Banking

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.

Royal Bank of Scotland, part of NatWest Group, has announced a progress update on its ambition to provide £5 billion in new lending to the UK social housing sector, with the bank confirming £2.8bn has already been provided up to 31 August 2024.

Nationwide Building Society has completed its £2.9 billion acquisition of Virgin Money, creating one of the UK's largest banking groups with 24.5 million customers and nearly 700 branches. The deal, approved by Virgin Money shareholders and a specialist court, will see the Virgin Money brand d

The Financial Conduct Authority (FCA) has fined Starling Bank Limited £28,959,426 for financial crime failings related to its financial sanctions screening. It also said Starling repeatedly breached a requirement not to open accounts for high-risk customers.

Revolut, Chase and Modulr are set to join the 159 short-code phone service available to people who are worried about a potential banking scam. 

The Financial Conduct Authority (FCA) has called on banks and other financial institutions to enhance their efforts in aiding individuals struggling to obtain a bank account.

Unity Trust Bank has posted strong half-year results as it celebrates its 40th anniversary. Net lending increased to £1.032 billion, with 40% of loans allocated to organisations in areas of high deprivation, 57% specifically supporting disadvantaged or marginalised groups, and 59% going to org

Edinburgh-headquartered private bank Hampden & Co has reported significant demand for personalised banking over the first half of 2024 as deposits, lending and client numbers all grew by double-digits. Total deposits across current, call, notice and term accounts increased by 15.8% year-on-year

The Cumberland Building Society has joined the National Association of Commercial Finance Brokers (NACFB) as a patron. This partnership aims to strengthen support for hospitality businesses, particularly those offering room-led accommodation. The society specialises in mortgages for a variety of bus

HSBC Group has announced a further $4.8 billion (c. £3.7bn) payout to shareholders, comprising a $3bn (c. £2.3bn) share buyback and $1.8bn (c. £1.4bn) in dividends. This comes as the bank reported a 1.5% increase in pre-tax profit to $8.9bn (c. £6.9bn) for the second quarter.

Four major UK banks, HSBC, Lloyds, TSB, and AIB, are under scrutiny by the Competition and Markets Authority (CMA) for breaching a 2017 order designed to ensure fair competition in the retail banking sector. The order mandates accurate information on products and services, including interest rates a

NatWest Group's shares surged to 7.5% in Friday's morning trading after the bank reported positive first-half results, raised its annual outlook, and announced a £2.5 billion mortgage portfolio acquisition from Metro Bank. Despite a 7.7% drop in total income to £7.13 billion, NatWest's p

FinTech and challenger bank Revolut has announced today that it has received its UK banking licence with restrictions from the Prudential Regulation Authority (PRA). Revolut now enters the ‘mobilisation’ stage, sometimes referred to as ‘Authorisation with Restrictions’, a com