Coronavirus: TSB to axe a third of branches and over 900 jobs September 30, 2020 TSB has announced plans to close 164 branches and cut over 900 jobs as the British lender grapples with the impact of the coronavirus pandemic. The lender said the cuts – which represent a 10 per cent reduction in the bank’s workforce and the loss of a third of its branches – were part of [...]
UK bank staff numbers see biggest jump in a decade as sector outperforms Europe July 10, 2024 The number of staff employed by UK banks saw its biggest increase in a decade last year, new data shows, as headcount returned to pre-pandemic levels and lenders enjoyed record profits.
Challenger banks pip high street rivals again as Monzo tops league table February 15, 2024 The UK's digital challenger banks have once again outperformed their high street rivals in a league table on customer satisfaction from the competition watchdog.
Mortgage options reach 16-year high as banks offer lowest rates since June January 8, 2024 The number of mortgage options for borrowers has reached its highest level in almost 16 years, according to financial information website Moneyfacts, as banks slash rates to compete for business in a smaller market.
Natwest boss open to acquisitions as he predicts more consolidation in UK banking June 6, 2024 The chief executive of Natwest has said the state-backed lender is open to acquisitions as he predicts more consolidation in the UK banking market over the coming years.
TSB swings to a loss due to rise in impairment charges July 31, 2020 TSB has reported a £66m pre-tax loss as credit impairment charges increased by £87.5m in the first half of the year. The figures TSB reported a statutory loss before tax of £65.5m, compared to a pre-tax profit of £21.1m in the first half of 2019. The bank said credit impairment charges increased by £87.5m, which [...]
Co-operative Bank picks up £479m Sainsbury mortgage portfolio amid speculation over banking M&A August 11, 2023 The Co-operative Bank has bought the mortgage portfolio of Sainsbury’s Bank for £464m as speculation over the future of the UK’s mid-sized lenders continues. The portfolio contains around 3,500 customers and is worth nearly £480m. The deal’s completion comes after months of negotiations, with reports earlier in the year suggesting talks between the two had [...]
Mortgage rates are going back UP – but where will they end up? February 23, 2024 A number of mortgage lenders are raising their costs again in a move which will “bring further tears to the eyes of the general public”.
TSB to phase out branch cashier roles in job cuts August 10, 2020 TSB has told cashiers that their jobs will be phased out at the start of 2021, following a steep decline in customers banking in its branches due to the pandemic. Those affected by the cuts will have to retrain, change roles or take voluntary redundancy, according to a staff memo seen by Reuters. A total [...]
Mortgage and rent payments ‘difficult’ for almost 40 per cent of Brits August 11, 2023 Some 38 per cent of Brits have confessed to finding it difficult to afford their rent or mortgage payments over the past month, as the cost of living crisis continues to wreak havoc on the public’s personal finances. This figure was around 29 per cent in early August 2022, new figures from the ONS show, [...]