Co-op bank turns corner as net lending tops £2bn November 5, 2021 The Co-operative bank has published a healthy set of financials for the first nine months of the year after turning a loss in 2020. The bank reported statutory profit before tax of £28.5m and underlying profit of £24.9m, a marked improvement on last year when the bank saw a loss of £68.1m before tax. The [...]
UK economy: ‘No one has any clue what’s going to happen,’ says boss of Britain’s fastest-growing business August 23, 2024 The chief executive of Britain's fastest-growing company has warned that poor access to finance for small firms risks hamstringing the UK's economic growth, as business owners already struggle with "really high uncertainity in the world".
Mark Kleinman: Will Barclays be able to explain their backing for Staley? November 4, 2021 Sky News’ Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Barclays in the headlines again What is it about Barclays and rough-Diamond bosses? In the end, the surprise was not so much that Jes Staley left the British bank mired [...]
Brits lost more than £1bn to fraudsters last year as purchase scams hit record high May 22, 2024 Brits lost more than £1bn to fraudsters last year, new figures show, as purchase scams surge to a new record and social media firms face tough questions over the high levels of fraud originating on their platforms.
Virgin Money faces potential shareholder revolt over £2.9bn Nationwide deal May 14, 2024 Virgin Money shareholders could be getting a better deal as part of the £2.9bn takeover bid from Nationwide, analysts have said ahead of a vote on the offer next week.
Almost £180m lost to impersonation scams as 45,000 cases reported April 18, 2023 Some £177.6 million was lost to impersonation scams last year, with more than 45,000 cases reported, according to a finance industry trade body. UK Finance, which leads the Take Five campaign, highlighting the dangers of fraud, said there were 45,367 cases of this type of fraud in 2022. The figures were released during Take Five [...]
Millions of banking app users exposed to security flaw: HSBC, NatWest, Monzo, Santander, Starling and Virgin Money customers all affected January 12, 2022 Millions of Brits who use online banking services are exposed to some worrying fraud risks, industry experts warned today. Following an investigation by security experts 6point6, testing the online and mobile app security of 15 major current account providers on a range of criteria, including encryption and protection, login, and account management and navigation, consumer [...]
Savings rates: Nine big banks face ‘robust’ action if they can’t prove fair value July 31, 2023 The nine largest banks have passed on just 28 per cent of base rate increases in easy access savings accounts since the beginning of last year, as the City watchdog issued a new set of rules to ensure savers get a fair deal. Under new rules coming into place, the Financial Conduct Authority (FCA) said [...]
Half of all Brits would struggle to afford food if they lost £1,000 October 7, 2021 Around half of all Brits would struggle to pay for food if they lost less about £1,000, with one in three ending up in financial difficulty if this figure was £500, according to a new survey, shared with City A.M. this morning. Moreover, just over a quarter of people said their mental health would be [...]
TSB books €7m loss in the first quarter as impact of coronavirus hits April 30, 2020 TSB booked a loss of €7m loss in the first quarter after a €40m in the previous quarter, as parent company Sabadell’s net profit shrinks on coronavirus-related provisions. Sabadell said its first quarter net profit shrunk by almost two-thirds after it braced for coronavirus-led defaults and suspended its guidance for the full year. It reported [...]