Natwest to launch new fintech accelerator in London in April February 26, 2018 Natwest bank will launch new fintech accelerators in four cities across the UK in April, including one in the capital, it announced today. The bank will launch units in London, Manchester, Bristol and Edinburgh, supporting up to 80 fintech firms with a "technology team mentor" and access to government contacts. The six- to 18-month acceleration [...]
Goldman Sachs mulling sale and leaseback of new London headquarters February 26, 2018 Goldman Sachs is considering selling its massive new headquarters in London and leasing it back. The investment bank’s new London office, which functions as its European headquarters, could fetch as much as £1bn, Bloomberg first reported. Goldman currently employs more than 6,000 staff in London, and has not announced how many, if any, jobs will [...]
Now Lloyds Bank has published its gender pay gap with women earning 33 per cent less than men February 23, 2018 Lloyds Banking Group has become the latest UK lender to reveal its gender pay gap. Britain's biggest bank said on average it pays women in the company 32.8 per cent less than men. Its median gender pay gap was also 32.8 per cent. The lender said this was due to a larger proportion of men [...]
Lloyds share price rises after profits increase: Here’s how the analysts reacted February 21, 2018 Lloyds Banking Group today bombarded investors with a rise in profits which nevertheless missed estimates, a £1bn share buyback, and a £3bn investment programme as it unveiled its new three-year strategy. Shares rose by two per cent at the time of writing. Read more: Lloyds profits jump despite increased PPI bill Read more: Lloyds announces [...]
Metro Bank reveals first ever annual profit as deposits grow by almost half February 21, 2018 Metro Bank today announced its first ever full-year profit, with a strong expansion seeing its assets and loans both grow by more than 60 per cent. The challenger bank reported a statutory profit before tax of £18.7m, while the underlying figure was £20.8m compared to an £11.7m loss the year before. Shares fell by more [...]
Treasury Select Committee publishes full “disgraceful” report into RBS’ restructuring unit and “profit centre” GRG February 20, 2018 The Treasury Select Committee has published the FCA's unredacted report into Royal Bank of Scotland's restructuring unit GRG after MPs agreed to do so this afternoon. The full report, which is available here, appears to be the same as others that have been widely circulated having been leaked in recent weeks. It makes clear that [...]
Royal Bank of Scotland teeters on edge of profit for first time in a decade as British big bank results season begins February 18, 2018 Investors will be on tenterhooks this week to see if Royal Bank of Scotland (RBS) has returned to profit for the first time after a decade in the cold, as Britain’s biggest banks report their full-year results. City analysts expect a net income loss of £984m, according to an average of estimates from S&P Global [...]
Starling Bank announces partnerships with mortgage broker, investment and pensions firms and insurer in open banking push February 13, 2018 Starling Bank will today unveil four new partners for its in-app marketplace, raising the prospect of customers buying insurance and even gaining a mortgage through the bank's app within weeks. The digital-only bank will launch an integration with Pensionbee in its app from today, with digital investing service Wealthsimple, mortgage broker Habito and Kasko travel [...]
Serious Fraud Office slaps Barclays with new charge over Qatar capital raising scandal February 12, 2018 The UK's fraud watchdog has today hefted a new charge onto BarclaysBank, in relation to an emergency fundraising it conducted in the summer of 2008. The Serious Fraud Office (SFO) today charged Barclays with giving "unlawful financial assistance", after it raised £4.5bn in June 2008 and £7.3bn that October from investors including Qatar Holding and [...]
Metro Bank says it will create 900 new jobs in 2018 February 9, 2018 Metro Bank today said it will create almost 900 new jobs over the course of 2018 as it swims against the tide of big bank branch closures. The challenger bank's plans contrast with those of Lloyds, the largest UK retail banking operation, which this week said it will cut 900 jobs, moving half that number [...]
