British Business Bank says ‘social benefit’ is high as it swings to yearly loss September 25, 2023 The government-owned British Business Bank has said UK taxpayers will feel the long-term benefits of plugging billions of pounds into small firms after revealing it swung to a loss of more than £147m last year. The UK’s economic development bank said it was impacted by wider economic difficulties which led to a drop in the valuation of firms [...]
Westminster under water: Bank regulator suggests stress tests for sudden and extreme climate events September 24, 2023 The head of the UK’s banking regulator has suggested testing the country’s financial system to see if it could withstand extreme and sudden climate events, such as Westminster ending up under water.
Hunt’s mooted ISA reforms offer ‘a beacon of hope’ to struggling firms, business groups say September 24, 2023 Top City business groups have welcomed suggestions the Treasury could reform rules around ISAs in a bid to supercharge London-listed firms.
Investec expects strong UK performance to drive earnings growth – but flags credit losses September 22, 2023 Banking and wealth management group Investec expects its UK business to ensure earnings growth but warned that credit losses will be towards the higher end of expectations. In a trading update for the first half of the year, the bank forecasts its headline earnings per share to be between six per cent and 12 per [...]
NatWest says ‘no customer will be left out of pocket’ after cash deposit glitch September 22, 2023 NatWest said it has resolved an issue with its cash machines after some of the bank’s customers reported problems with their accounts. A number of people took to social media site X, formerly Twitter, throughout Thursday complaining money they had deposited in their NatWest accounts was missing. Others expressed concerns they would accrue fees after [...]
London-listed Georgian banks pressured to dodge US sanctions by central bank September 21, 2023 Two London-listed Georgian banks have been caught in the middle of a sanctions spat after the Georgian central bank told the lenders they don't need to comply with recently announced US sanctions.
Inside story: How Cavendish became the City’s newest bank September 21, 2023 In late January, two bankers sat across from each other at the 57-year-old Chelsea haunt La Famiglia for a tete-a-tete over wine and dinner. The traditional Tuscan eatery is something of a hotspot for celebs and off-duty City types – a pre-sanctions Roman Abrahamovic even used to entertain Jose Mourinho there over a bowl of [...]
Boutique bank Close Brothers expands in Ireland with Bluestone Motor Finance takeover September 20, 2023 The deal, announced this morning in a regulatory announcement, is expected to complete in the fourth quarter of this year. The value of the deal was not disclosed.
Revolut granted extension to file annual results for second year in a row September 19, 2023 The fintech's results had been due in September, nine months after the end of its financial year.
Banks not closing accounts due to political views, FCA finds September 19, 2023 Banks have not been closing customer accounts for political reasons, according to the initial findings of an investigation by the FCA.
