Banking

Lloyds Banking Group, owner of Bank of Scotland and the UK's largest retail lender, is set to axe hundreds of jobs, as part of a major restructuring effort. The bank aims to cut costs and digitise its operations, leading to changes affecting over 1,000 roles.

Bank of Scotland-owner Lloyds Banking Group has announced it will allow customers of its three brands – Lloyds, Halifax, and Bank of Scotland – to use any branch regardless of which brand they bank with. The group claims the move will offer greater choice and flexibility, although it has

Coventry Building Society's acquisition of the Co-operative Bank has been approved by regulators, paving the way for the creation of a major banking force with combined assets of £89 billion. The £780 million deal, announced in May, will see the Co-op Bank return to its roots as a mutual

Nationwide Building Society has announced a £2.3 billion gain from its recent acquisition of Virgin Money, exceeding its initial forecast of £1.5bn. This substantial gain comes as Nationwide reveals its final set of results as a standalone brand.

Barclays has been fined £40 million by the Financial Conduct Authority (FCA) for failing to disclose payments made to Qatari investors during the 2008 financial crisis. The bank was due to challenge the FCA's decision in court but dropped the appeal at the last minute.

OakNorth Bank has appointed Michael McGregor as director of debt finance at its Glasgow office in a move to boost corporate lending across Scotland. Mr McGregor brings over 12 years of banking and finance experience, most recently serving as relationship director for high-growth businesses at Santan

Weatherbys Private Bank has appointed Hannah Law as a private banker to its Edinburgh office as it continues to attract new Scottish clients. Ms Law joins Weatherbys after having spent the past decade at Citi in London, latterly working for its professional services group advising clients from large

NatWest has banned employees from using WhatsApp and other messaging apps like Skype and Facebook Messenger on work devices.

The Financial Conduct Authority (FCA) has fined Metro Bank PLC (Metro) £16,675,200. The regulator found that, between June 2016 and December 2020, Metro failed to have the right systems and controls to adequately monitor over 60 million transactions, with a value of over £51 billion, for

Coinciding with its announcement of a better-than-expected 10% rise in pre-tax profits to $8.5 billion (c. £6.6bn) during Q3 2024, HSBC's CEO, Georges Elhedery, has dismissed speculation that the bank's recent restructuring signals a potential breakup. The restructuring, announced last week, w

NatWest Group has posted a 26% jump in third-quarter profits to £1.7bn, exceeding expectations and raising its income forecast for the year. This strong performance comes despite a challenging UK economic outlook and follows a trend of positive results from other major UK banks.

Barclays has exceeded profit forecasts for the third quarter of 2024, driven by strong performance in its investment banking division.

Lloyds Banking Group has exceeded profit expectations, reporting pre-tax profits of £1.8 billion for the third quarter.

Handelsbanken has strengthened its position in Edinburgh with a move to new branch premises in the city’s west end. This supports the bank’s continued growth in the city, and follows recent appointments bolstering the team’s presence.

The Financial Conduct Authority (FCA) has fined TSB Bank plc (TSB) £10,910,500 for failing to ensure customers who were in arrears were treated fairly.