Banking

Clydesdale bank owner Virgin Money UK PLC's Q3 results have revealed a 45% increase in account sales keeping profitability strong. The bank saw roughly 45,000 digital personal and business current accounts opened in Q3, as well as 160,000 new credit cards opened. This follows a record 175,000 new cr

HSBC has released its 2022 H1 results and reported profit after tax of $9.2 billion (£7.5bn). Pre-tax profit has fallen but has come ahead of expectations. The bank has said it expects net interest income of at least $31bn (£25bn) for 2022 and at least $37bn (£30bn) for 2023,

Bank of Scotland-owner Lloyds Banking Group has announced that it will be closing 66 branches between October and January of next year. A total of 48 Lloyds Bank branches and 18 Halifax branches will be closing, none of which are in Scotland.

Leeds Building Society has announced that it will no longer lend money to people buying second homes.

UK banks have made initial claims worth £352mn from the government to cover losses on one of its flagship state-backed Covid-19 loan schemes, after recording default rates as high as 25%.

NatWest released its H1 results today reporting an operating pre-tax profit of £1.4 billion.

New research from Barclaycard Payments has found that cost of living increases are set to impact Business-to-Business (B2B) subscriptions in the UK as nearly half (49%) are considering reducing the number of services they subscribe to, as they tackle rising costs.

Barclays Bank Group has reported a profit of £3.7 billion for H1 in its interim report.

TSB Bank plc announced its 2022 half-year results reporting a £102.9 million statutory pre-tax profit for H1. TSB's statutory pre-tax £102.9m profit increased from £42.9m for the same period in 2021. This comes during an economically challenging time for many of its customers.

The Competition and Markets Authority (CMA) has ordered Monzo to comply with banking rules. This latest action by the CMA comes after Monzo breached the Retail Banking Market Investigation Order between May 2021 and March 2022.

Lloyds group has reported a pre-tax profit of £3.7 billion for the first half of 2022, a result that beat expectations.

Clydesdale Bank owner Virgin Money has announced a new credit card product that will allow customers to buy now, pay better.

The Competition and Markets Authority (CMA) has taken action against Royal Bank of Scotland-owner NatWest for breaking parts 2 and 10 of the Retail Banking Order 2017. The CMA wrote a letter to the banking giant, which has agreed to take action to put things in order for customers.

Starling Bank has reported a pre-tax profit of £32.1 million in its first full year of profitability. £32.1m pre-tax profit for the financial year ending 31 March 2022 comes after a pre-tax loss of £31.5m for the previous period to 31 March 2021. Revenue for the same period to 31 M

A Freedom of Information request to the British Business Bank by Purbeck Personal Guarantee Insurance, has revealed that one in ten firms who borrowed money under the Bounce Back Loan Scheme (BBLS) are in arrears by over ninety days, with £29.357 owed in total.