Swelling of ‘generation rent’ means many won’t be homeowners until 40s, 50s or even pension age rent for life Almost 15 per cent of renters think they may be picking up their pension before becoming homeowners, as the cost of living crisis continues to eat into savings. With so-called ‘Generation Rent’ continuing to be impacted by soaring house prices that prevents them from getting onto the property ladder, a new survey commissioned for NatWest [...]
Weekend Chat: Ex-banker turned GoCardless president Paul Stoddart talks fintech, Brexit, pandemic recovery and Russia Saturday sitdown At the start of this month, Paul Stoddart jumped ship to become the president of the newly-minted fintech unicorn GoCardless. Stoddart, who describes himself as a “banker by trade,” spent years at Natwest, Barclays, and was most recently the chairman of Mastercard’s VocaLink. In an exclusive interview with City A.M., Stoddart said that joining GoCardless [...]
NatWest offers customers chance to win £1,000 this summer via ’round up’ feature NatWest launches competition People saving with NatWest could win £1,000 this summer if they turn on a “round ups” feature on their account. The bank said it will award 10 customers £1,000 each. The round ups feature rounds up the cost of a purchase to the nearest pound and the spare change is automatically paid into a chosen [...]
Natwest’s profits soar as high interest rates boost bank’s mortgage business April 29, 2022 Natwest today said its profits had almost doubled since the previous quarter, despite inflation, the cost-of-living crisis, and the war in Ukraine. The bank said it had generated £841m in profits in the first quarter of 2022, up 93.8 per cent compared to the £434m in profits Natwest posted in Q4 2021. The first quarter [...]
NatWest examines £3bn bid for Tilney Smith & Williamson April 2, 2022 NatWest is reportedly examining a £3bn takeover proposal for UK wealth management powerhouse Tilney Smith & Williamson. Sources told Sky News the bank – which was rescued by the government in 2008 – is among several bidders who will make a play as the high street lender is expected to go on sale within the [...]
Govt reduces stake in NatWest to less than 50 per cent as Treasury sells £1.2bn of shares March 28, 2022 The Government has ceded its control of banking group NatWest Group for the first time since the bank – then known as Royal Bank of Scotland Group – was rescued by the Treasury during the financial crisis. The Treasury has sold off more than £1.2bn worth of shares, taking its stake to less than 50 [...]
New business growth in London at eight year high amid concern about inflation and input costs March 14, 2022 New business activity in the capital has reached an eight-year high, but optimism remains cautious with rising inflation and pressures on input costs. There has been a resurgence in trade across the London, with growth rising from 57.3 per cent in January to a three month high of 63 per cent, in February. Growth reported [...]
Natwest reveals £1bn cut in lending to oil and gas sector February 18, 2022 NatWest cut lending to the oil and gas sector by 21 per cent in 2021, with the bank pushing to decarbonise its loan book and hit net zero.
The Monzo effect: Challenger banks make life increasingly difficult for traditional high street rivals February 9, 2022 Challenger banks are outperforming traditional and established financial institutions more and more, with a growing number of Brits taking up accounts with Starling, Monzo or Triodos. According to new data shared with City A.M. this morning, the digital-only banks beat traditional institutions when it comes to customer service and mobile apps. Consumer group Which! asked [...]
Millions of banking app users exposed to security flaw: HSBC, NatWest, Monzo, Santander, Starling and Virgin Money customers all affected January 12, 2022 Millions of Brits who use online banking services are exposed to some worrying fraud risks, industry experts warned today. Following an investigation by security experts 6point6, testing the online and mobile app security of 15 major current account providers on a range of criteria, including encryption and protection, login, and account management and navigation, consumer [...]