RBS launches digital bank Bo in bid to rival fintechs November 27, 2019 Royal Bank of Scotland (RBS) has officially launched its digital bank as it looks to rival a group of fast-growing fintechs and hoover up more online customers. The state-backed lender has created Bó, its new digital, cloud-based bank featuring a bright yellow Visa card and a mobile app. Read more: LSE hires fintech to widen [...]
Coronavirus: UK house prices growth ‘grinding to a halt’ April 2, 2020 UK house prices rose three per cent last month just before the coronavirus outbreak hit, according to Nationwide figures released today. But the bank warned housing market activity is “grinding to a halt” as the coronavirus lockdown stops buyers and sellers from viewing properties. Banks have also withdrawn mortgages or made it tougher to secure [...]
Metro Bank losses widen as it takes £124m hit from Covid, sending shares lower February 24, 2021 Metro Bank loss widens as it takes £124m hit from Covid pandemic
Lloyds found to have failed customers hit by HBOS Reading branch fraudsters December 10, 2019 Lloyds Banking Group was found today to have failed in its compensation of customers who were hit by fraudsters in the Reading office of HBOS. A report by Sir Ross Cranston assessing the bank’s customer review, which was set up to compensate victims of the HBOS Reading fraud, found the review “did not achieve the [...]
TSB Bank facing heavy criticism after investigation into IT meltdown November 9, 2019 TSB Bank is set to be criticised for failing to prepare for a systems migration in a report on the malfunction that left 2m customers unable to access their current accounts. City law firm Slaughter and May has submitted its final report on the incident to the bank and regulators, according to Sky News, with [...]
Ex-Terra Firma boss poised to join Heylo September 11, 2019 The former boss of private equity house Terra Firma is set to be announced as the next chief executive of Heylo, a British provider of affordable housing. Andrew Geczy will be tasked with accelerating Heylo’s expansion, Sky News reported. It owns Home Reach which has delivered 4,000 properties and has raised hundreds of millions of [...]
Lloyds shareholders lose £385m HBOS High Court case November 15, 2019 Lloyds shareholders today lost a £385m High Court case against the bank’s acquisition of HBOS at the height of the financial crisis. England’s highest court rejected a claim from a group of 5,803 investors that they were “mugged” when the bank recommended the 2009 deal without revealing the state of HBOS’ finances. Read more: First [...]
Skills in the City: financial services sector looks to the future October 18, 2021 To what extent should organisations that compete fiercely to attract new recruits (and for business overall) be collaborating when it comes to enhancing their workforces’ skillsets? It’s tricky to imagine many of the Square Mile’s biggest names freely sharing their training programmes outside their own four walls. ‘Sure, we’ll just send you what we do [...]
Banks struggle with PPI claims after deadline surge October 16, 2019 Customers who lodged complaints over the mis-selling of payment protection insurance (PPI) may have to wait until next summer for a final response. Read more: PPI costs account for over half of all conduct and litigation in UK banks Britain’s competition watchdog has said it is challenging banks to deal with complaints as quickly as [...]
Natwest and Lloyds signal willingness to bring back dividends September 27, 2020 Two of the UK’s largest banks have indicated that they are ready to restart paying dividends as the Bank of England prepares to review its ban on shareholder payouts. Executives at Natwest and Lloyds have hinted at the strength of their balance sheets, with Natwest chairman Howard Davies saying lenders would resume paying dividends if [...]