Banking

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.

Brown Shipley, the Edinburgh-based private bank, has appointed Mark Flynn as a managing director and head of Scotland. Mr Flynn, who joins the business in June, will focus on leading the next stage of Brown Shipley’s strategy in Scotland. His arrival demonstrates the business’ continued

HSBC has seen its reported profits after tax drop by $1.1 billion to $3.4bn in the first quarter of 2022. The bank's reported profit before tax also plummeted by $1.6bn to $4.2bn. HSBC said that the decrease reflected a net charge for expected credit losses and other credit impairment charges in the

Fife-based International Testing Services (ITS), which specialises in non-destructive testing (NDT) has grown its headcount after winning a significant new international contract, with the support of a £100,000 funding package from Bank of Scotland. ITS has been providing NDT and inspection se

The British Business Bank has appointed a new Scottish representative to its UK Network team, with senior manager Barry McCulloch spearheading the Bank’s presence north of the border. Mr McCulloch takes over from Ian Mitchelmore who is stepping down due to retirement.

Caledonia Housing Association has secured a uniquely structured £75 million Private Placement, with support from NatWest, to further its commitment to both building sustainable housing and becoming a carbon-neutral organisation. Caledonia intends to use the proceeds from the transaction to con