Banking

Lloyds Banking Group, owner of the Bank of Scotland, has reported a surge in half-year profit despite facing a slowdown in the second quarter due to increased competition for mortgages and savings, as well as higher provisions for bad loans.

Barclays has posted its half-year results, showing a 22% increase in pretax profit to £4.6 billion, for the six months ending 30 June 2023.

Alison Rose, CEO of NatWest, has resigned following a row involving Nigel Farage, the former UK Independence Party leader and current GB News host. The row centred around the decision of Coutts, NatWest's private banking business, to close Mr Farage's account, allegedly due to his political vie

Virgin Money has revealed it will shut six Scottish branches as part of its broader strategy to respond to changes in consumer banking behaviour.

The Royal Bank of Scotland is inviting ambitious entrepreneurs and business owners to apply for a place on its Entrepreneur Accelerator Hub. The bank is currently accepting applications to its fully funded support programme for Scottish businesses looking to scale and succeed.

The Financial Conduct Authority (FCA) has urged banks to improve the savings rates they offer their customers at a faster pace.

At a time when other banks are increasingly prioritising digital banking and closing many of their branches, the Scottish Building Society has opened its new Edinburgh relationship centre reaffirming its commitment to high street banking.

New data from financial mutual Scottish Friendly has revealed the number of newly opened stocks and shares ISA policies dipped -7% in Q1 2023 compared with Q4 2022. Meanwhile, the value of those new policies also dipped -6% over the same period.

Private bank Hampden & Co has appointed Patrick Preece as a banking director at its London office. Prior to joining the Edinburgh-headquartered bank, Mr Preece was at Investec where he worked in their city professionals team. He has also worked at C. Hoare & Co, where he was a rela

The Royal Bank of Scotland owner, NatWest Group, and the University of Edinburgh have announced a five-year strategic partnership establishing the Centre for Purpose-Driven Innovation in Banking.

Bank of Scotland owner Lloyds Banking Group and Barclays have announced the closure of 63 branches across the UK, 18 of which are located in Scotland.

A third (36%) of UK businesses plan to adapt their strategies to navigate financial challenges over the next six months, according to new research from HSBC UK.

Anne Boden, the founder of Starling Bank, is to step down from her role as CEO, effective from 30 June, transitioning to a non-executive role on the board. John Mountain, the current COO, will assume interim CEO responsibilities, steering the digital bank into its forthcoming growth phase.

NatWest Group plc has agreed to an off-market purchase of 469.2 million of its shares from HM Treasury, amounting to £1.26 billion in consideration.

In a move for customer rewards, Nationwide Building Society has announced a significant redistribution of profit to its customers, strengthening the appeal of its mutual structure. This action follows a 40% rise in annual profit, amounting to £2.2 billion, resulting from a succession of intere