HSBC to sell German private banking arm to BNP Paribas September 23, 2024 BNP Paribas has struck a deal to acquire HSBC's German private banking arm as the French lender looks to expand in wealth management and the London-based giant continues its pivot to Asian markets.
Investec set for profit boost despite challenges in the UK September 20, 2024 Investec delivered an upbeat trading update for the first half, with profit on track to increase compared to last year despite challenges in the UK. The bank expects adjusted operating pretax profit in the six months to September to be between £450m and £482m, up from £441m in the same period last year. Headline earnings [...]
FCA chief encourages more risk-taking among firms to boost financial inclusion September 19, 2024 The chief executive of the Financial Conduct Authority has said more risk-taking among firms is needed to push a "step change" in the UK's financial inclusion, which could also boost economic growth.
UK lenders must do more to support people in debt, ombudsman chief says September 19, 2024 The head of the UK's financial ombudsman has urged lenders to do more to help consumers struggling with debt after a surge in official complaints.
Close Brothers to sell asset management arm as motor finance bill looms September 19, 2024 Close Brothers' shares are down by around a third since the Financial Conduct Authority announced in January that it would review whether customers were overcharged via now-banned discretionary commission arrangements on car loans.
UK banks giving savers better value but still ‘room for improvement’, FCA says September 18, 2024 The City regulator has said savers are an estimated £4bn better off following improvements to easy access rates in recent months, but still put pressure on banks to offer more value.
The departure of the super rich is an early warning siren for the rest of us September 18, 2024 Marcelo Goulart, managing partner at the Zurich-based wealth advisor First Alliance, has been so busy helping his clients leave the UK that he’s had no summer holiday. He tells City PM that 80 per cent of his “UK exposed” clients have either left the country or are in the final stages of doing so. He [...]
UK bank compensation scheme faces leadership vacuum after recruitment delays September 18, 2024 The institution that protects government-guaranteed deposits in failed banks is facing questions over its future leadership after multiple setbacks to recruiting a new chair and permanent chief executive, City PM can reveal.
New access to cash rules kick in for UK banks and building societies September 18, 2024 New rules from the UK's financial regulator to ensure access to cash have come into force, handing new powers to local communities and placing stricter requirements on banks looking to close branches.
Revolut readies for India launch in 2025 amid aggressive expansion September 17, 2024 Revolut is planning to launch in India next year, targeting top-tier consumers in the world’s most populous nation as part of aggressive expansion efforts. The London-based banking app is eyeing up a slice of India’s lucrative fintech market, which serves millions of consumers within its growing middle class who previously had limited access to financial [...]
