Banking

The Scottish National Investment Bank (SNIB) has committed £9 million to fund the development of Circularity Scotland Limited, to help people recycle billions of single-use drinks containers every year. The Bank’s investment was key to securing an additional £9m capital from Bank o

The Scottish National Investment Bank (SNIB) has a key strategic part to play in helping to deliver Scotland’s low carbon heating systems. A new insight paper, ‘Scotland’s transition to net zero heat’ released today sets out the bank’s role in tackling the issue and bui

According to the Scottish National Investment Bank (SNIB), the first full year of operations for the Scottish Government-owned bank has been one of significant progress. According to the lender, the bank’s team has been substantively recruited, many of its operational systems have been put in

Business activity improved for the fourteenth consecutive month in April, according to the latest Royal Bank of Scotland PMI, as the seasonally adjusted headline Royal Bank of Scotland Business Activity Index rose to 58.9 in April, up from 58.4 in March and indicating a faster increase in private se

Royal Bank of Scotland-owner NatWest Group has signed agreements with TrueLayer, GoCardless and Crezco to offer Variable Recurring Payments (VRP) as a new payment option for businesses and consumers. The announcement means that NatWest Group will be the first UK bank to go beyond the requirement for

The Bank of England (BoE) has raised interest rates from 0.75% to 1%, in an attempt to fight rising inflation. The bank's Monetary Policy Committee (MPC) by a majority of 6-3 to increase the bank rate by 0.25 percentage points. Those members in the minority preferred to increase the rate by 0.5 perc

Cumbernauld-based developer McKernan Homes has broken ground on a new sustainable development in Airdrie facilitated by a £2.8 million loan from Bank of Scotland.

Jonathan Peake has joined UK private bank Hampden & Co from Standard Bank International as chief financial officer (CFO). Mr Peake spent more than six years as CFO and executive director at Standard Bank International, the banking and wealth management group, which has approximately £6 bil

The life sciences sector became the most popular destination for equity investment into tech-focussed smaller businesses in Scotland, as the Covid-19 pandemic increased interest in healthcare technology, according to new analysis from the British Business Bank. Using Beauhurst data that tracks equit

Willie Watt, the chair of the Scottish Government-owned Scottish National Investment Bank (SNIB) has refused to answer questions from MSPs on why Eilidh Mactaggart, the former chief executive of the bank, quit with a £117,500 exit payment. Mr Watt said he was unable “to provide any furth

The Scottish Building Society has launched a new partnership with digital legacy vault and planning tool, Biscuit Tin, which will be offered free to its members for the first three months after they sign up. Launched by entrepreneur Sheila Hogan in 2020, Biscuit Tin provides a simple and stress-free

Halifax has apologised to customers after sending incorrect emails informing them that the Bank of England base rate had changed. The emails, which said “the Bank of England base rate has changed today”, were distributed ahead of the Bank’s next interest rate decision tomorrow.

NatWest Group has posted its first-quarter results, revealing operating profits before tax of £1.24 billion, compared to the £885m reported in the first quarter of 2021. The bank also announced a £38m impairment release, compared to a £98 release in the same period of 2021.

Business confidence in Scotland rose 11 points during April to 28%, according to the latest Business Barometer from Bank of Scotland Commercial Banking. Companies in Scotland reported higher confidence in their own business prospects month-on-month, up 16 points at 34%. When taken alongside their op

The board of TSB has announced the permanent appointment of Robin Bulloch as CEO. Mr Bulloch has led TSB on an interim basis for the past four months, and prior to that was chief customer officer. He has a strong track record in retail banking spanning over four decades.