The Treasury wants to change plans for Royal Bank of Scotland to sell Williams & Glyn February 20, 2017 Royal Bank of Scotland confirmed today that it will no longer be required to sell the 307 branches that make up its Williams & Glyn network, after the Treasury stepped in to seek changes to its State Aid obligations. Shares in the lender were up by more than five per cent at the open, and [...]
In the shadow of the Lehman Brothers collapse: A decade of change in the City of London September 14, 2018 The collapse of Lehman Brothers remains shorthand for the start of the global financial crisis and a period when the foundations of capitalism shook. A decade on the Western financial system is still struggling to move out of the shadow of the events of 15 September 2008. Political events around the world today are still [...]
In the shadow of the Lehman Brothers collapse: A decade of change in the City of London September 14, 2018 The collapse of Lehman Brothers remains shorthand for the start of the global financial crisis and a period when the foundations of capitalism shook. A decade on the Western financial system is still struggling to move out of the shadow of the events of 15 September 2008. Political events around the world today are still [...]
Lloyds Bank, Halifax and Bank of Scotland online banking customers will soon be able to use facial recognition technology for login instead of passwords with Microsoft Hello April 17, 2017 Lloyds is the latest bank to jump on the biometric bandwagon with new plans to let users login simply by showing their face to a camera. Online banking for customers of Lloyds, Halifax and Bank of Scotland will now come with a new security option that replaces a password with a selfie or a fingerprint. [...]
UK bank HSBC holds on to the title of Europe’s largest – but Barclays and RBS slip down the ranks May 16, 2018 HSBC has held on to the title of Europe’s largest bank once again, according to new data, as the top four remained unchanged. Ranked by total assets, HSBC tops the chart with €2.1 trillion (£1.8 trillion), research from S&P Global Market Intelligence showed. Unchanged from last year, the UK institution was followed by France’s BNP [...]
Royal Bank of Scotland’s losses widen to £7bn for 2016 as mis-selling charges take their toll February 24, 2017 Royal Bank of Scotland (RBS) has announced a multi-billion pound loss for the year to the end of December due to misconduct charges and restructuring costs, making 2016 its ninth straight year of losses. The figures The 73 per cent state-owned bank posted an attributable loss of £6.96bn, after a loss of £1.98bn in 2015 due to litigation and [...]
Banking bigwigs appointed to decide bank winners of £425m RBS competition fund May 2, 2018 Banking bigwigs Godfrey Cromwell and Brendan Peilow were today appointed to head the body which will decide which small business challenger banks receive chunks of a £425m cash pot put up for grabs by Royal Bank of Scotland (RBS). Banking Competition Remedies Ltd (BCR) will judge the applications from lenders such as Metro Bank, Virgin [...]
Challenger bank Starling launches business accounts as it eyes £120m RBS competition pot | City A.M. March 29, 2018 Challenger bank Starling is launching business accounts as it targets a pot of cash being paid out by RBS. The product will make Starling the first mobile-only bank to have business accounts. It comes as the company targets “Pool A” of grants worth up to £120m for the development of business current accounts. The grant [...]
RBS boss Ross McEwan is ‘confident’ the bank will pass stress tests and could have news on a dividend by August June 7, 2018 Royal Bank of Scotland (RBS)’s chief executive Ross McEwan has today given a strong hint that the bank will be able to resume paying dividends within just a few months. McEwan, who took the helm of the bailed-out bank in 2013, said at a conference organised by Goldman Sachs in Frankfurt today that he is [...]
Barclays Qatari loan fraud charges thrown out by Crown Court May 22, 2018 Barclays celebrated a significant victory over the Serious Fraud Office (SFO) yesterday when the Crown Court dismissed charges surrounding the bank’s huge capital raising during the financial crisis a decade ago. The SFO alleged that a $3bn (£2.2bn) loan Barclays gave Qatari investors led to the Qatari acquisition of shares in a Barclays fundraising, an [...]