Arbuthnot sees surge in profit after SME deposit growth and ‘helpful’ interest rate hikes March 28, 2024 Arbuthnot Banking Group has reported a surge in annual profit on the back of growth in its small business offering and higher interest rates.
Bank of England rate-setter Haskel: Interest rate cuts are still ‘a long way off’ March 28, 2024 "Although the fall in headline inflation is very good news, it is not informative about what we really care about: what we really care about is the persistent and the underlying inflation," Haskel told the Financial Times.
Shawbrook delivers jump in profit on higher interest rates and lending growth March 28, 2024 Challenger bank Shawbrook has posted a jump in annual profit on the back of interest rate hikes and higher lending.
Natwest boss drops third of executive committee after government slashes stake March 27, 2024 New Natwest boss Paul Thwaite, who formally became chief of the bank in Febraury, has restructured the group's management team.
Tom Hayes: Court upholds Libor conviction as top MP warns London now an ‘outlier’ March 27, 2024 The Court of Appeal has upheld the conviction of former Libor trader Tom Hayes today after he spent years in prison for rate-rigging – with one MP saying the decision made the capital an “outlier” compared to other financial capitals. On Wednesday, Lord Justice Bean read out a press summary at the Court of Appeal, [...]
As savers chase better returns from online-only accounts, bank branches wither March 27, 2024 Banks and savers alike are increasingly pulling back from branches, according to new research, as digital services offer lower operational costs for firms and better deals for customers.
FCA warns insurers to stop undervaluing cars when settling claims March 27, 2024 The Financial Conduct Authority (FCA) has issued a fresh warning that some insurance firms may be undervaluing written-off or stolen vehicles when settling claims.
UBS seals deal to sell $8bn in loans to Apollo as it presses on with Credit Suisse integration March 27, 2024 UBS and private equity giant Apollo Global Management have finalised a deal to sell $8bn worth of Credit Suisse's securitised products as the bank winds down non-core businesses of its former rival after acquiring it last year.
Vanquis Bank swings to annual loss and slashes dividend after jump in impairment charges March 27, 2024 Vanquis Banking Group has swung to an annual loss and slashed its dividend after the specialist lender saw a jump in impairment charges, following a profit warning for 2024 earlier this month.
Buy now, fail later? Banks struggle to cash in on Klarna’s success March 27, 2024 Natwest recently confirmed it would axe its buy-now pay-later scheme. Industry experts suggest the move could be a sign of things to come as traditional lenders struggle to gain a foothold in the market.
