NatWest chief warns supply chain crisis curtails growth among army of small firms October 18, 2021 NatWest’s business banking boss has said the supply chain crisis is holding back growth among Britain’s army of small firms and warned over mounting problems if shortages persist. Andrew Harrison said poor availability of key goods and materials was “curtailing” growth in the sector, which comes at a vital time for small firms as they [...]
FCA chairman Charles Randell to leave post after over three years in the job October 15, 2021 The chairman of the City watchdog is stepping down from his post next year after over three years heading up the regulator. Charles Randell has asked chancellor Rishi Sunak to start looking for his replacement as chairman of the Financial Conduct Authority (FCA). Randell intends to leave his post in the spring of next year. [...]
NatWest to spend £100bn on climate and sustainable finance October 13, 2021 Banking giant NatWest has announced plans to provide £100bn of climate and sustainable funding by 2025 to support the transition to net zero. Natwest previously announced a target of spending £20bn on climate and sustainable finance between 2020 and 2022 which the bank already exceeded with the early delivery of £21.5bn in the first half [...]
NatWest to launch first eco-friendly loans as part of new £100bn green funding pot October 13, 2021 NatWest said this morning it plans to bring £100bn to green funding to the market by the end of 2025 and the City bank will also roll out its first eco-friendly business loans. The bank stressed its strategy is to help small firms capitalise on the drive to tackle climate change. The pledge sees the [...]
A slice of the pie: UK financial firms target booming fintech market October 11, 2021 As banks and financial services firms in the UK switch their attention from pandemic survival to driving growth, they are increasingly tapping into the booming fintech space as a way to future-proof their business, according to new research. Almost half (46 per cent) of the UK’s financial services firms are targeting acquisitions and partnerships with [...]
UK’s big five banks set to pay out £7bn in dividends as their earnings soar October 10, 2021 The UK’s largest banks are preparing to hand out a collective £7bn in dividends this year, on the back of earnings hitting their highest level for the sector since 2008. The £7bn payout would be more than double the £3.3bn handed out in dividends by the UK’s big five in 2020. The UK’s five largest [...]
‘FCA claimed a big scalp’: NatWest’s £320m money laundering fine sends message to the entire City October 8, 2021 NatWest is this morning staring at the prospect of a fine of up to £320m following the bank’s admission of guilt yesterday in relation to three charges of money laundering. The banking giant admitted it had failed to properly monitor £365m when it was deposited into a customer’s account. The case is widely seen as [...]
Dirty money in the City: NatWest pleads guilty to money laundering charges as CEO apologises October 7, 2021 NatWest pleaded guilty this morning at Westminster Magistrates’ Court to three counts of failing to comply with anti-money laundering legislation. The bank admitted failing to comply with laws over “large cash deposits” into a sole customer’s accounts. The firm pleaded guilty at Westminster Magistrates’ Court on Thursday to three counts under regulation 45(1) of the [...]
NatWest snaps up children’s pocket money app RoosterMoney October 6, 2021 NatWest has acquired children’s pocket money app RoosterMoney. The bank plans to offer Rooster as part of its existing products and services in the coming months and said the acquisition is part of its strategy to help families and young people manage their cash more easily. The app currently has more than 130,000 UK users [...]
PM aiming to schmooze globe’s top finance brass at green summit October 5, 2021 The chiefs of the globe’s top finance brass will attend a green summit hosted by Prime Minister Boris Johnson. The bosses of Wall Street behemoths JPMorgan and Goldman Sachs and asset manager big beasts BlackRock and Blackstone will be among those Johnson is hoping to schmooze to generate billions of pounds of investment for the [...]