Close Brothers and First Rand look to park motor finance row April 8, 2026 After countless speed bumps, sharp handbreak turns and a fair few false starts, the two banks that took the motor finance scandal to the top finally look to put it in the rearview mirror. Close Brothers and Aldermore owner First Rand have sought to wrap up the over two-year long saga after the financial watchdog [...]
‘Make the process look less scary’: UK banking licence applications hit zero in 2025 April 8, 2026 The number of applicants for UK banking licences plummeted to zero in 2025, raising questions over the government and regulators’ capacity to foster competition and attract overseas investment. The fresh figures – revealed in a Freedom of Information request by financial regulation consultancy Pathlight Associates – show a steep fall from the 11 licence bids [...]
Barclays and Lloyds shares pop as FTSE 100 banks rally on ceasefire April 8, 2026 A whopping surge from Barclays and Lloyds led a rally across banking stocks on Wednesday morning as the City welcomed news of a ceasefire in the Middle East. Barclays soared eight per cent as trading in London kicked off, hitting highs of 438p, helping the firm claw back losses made since the start of the [...]
Barclays’ high street U-turn exposes a divide in British banking April 8, 2026 Bank have ditched the high street over the last decade but is a comeback on the horizon? Samuel Norman explores the changes in this week’s column. In Westminster, the news cycle is never short of drama over U-turns. Subtle tweaks or direct bait-and-switches on policy are batted away by government spokespeople as mere “pivots” as [...]
Virgin Money swallowed up by Nationwide as top boss exits April 7, 2026 The boss of Virgin Money is set to depart the firm later this years as the UK bank fully consolidates into the Nationwide umbrella. Chris Rhodes took the reins at Virgin Money following its acquisition by Nationwide in late 2024. Before this post, Rhodes served as finance boss at the UK’s largest building society for [...]
Monzo and Revolut take banking battle to the playground April 1, 2026 Banks are turning their attention to the younger generation and in this week’s column Samuel Norman takes a look at the money to be made with Gen Alpha. The Tooth Fairy is losing her magic touch. After centuries of cultural dominance in the under-the-pillow money market, the primary dealer of calcium-for-cash faces a hostile takeover. [...]
Motor finance compensation to ‘to fire starting gun’ on banking M&A March 31, 2026 The financial watchdog’s long-awaited motor finance redress scheme is predicted to “fire the starting gun” on a wave of deals throughout the banking sector. The Financial Conduct Authority (FCA) launched the final rules for its redress programme on Monday, with the bill for lenders expected to come in at just north of £9bn, down from [...]
Lloyds and Close Brothers shares rally as banks ‘assess’ impact of motor finance redress March 31, 2026 Shares in UK motor finance lenders had a volatile opening this morning as markets digested the final rules of the financial watchdog’s industry-wide redress scheme. Lloyds Banking Group – the owner of the nation’s largest motor finance lender Black Horse – crept up over one per cent in early trading to tip over the 92p [...]
Revolut profit booms after poaching record customers from high street banks March 24, 2026 Revolut revealed a major boom in its bottom line on Tuesday morning after the fintech giant poached a record amount of customers from its high street rivals. The $75bn digital banking titan posted a 57 per cent surge in group-wide profit to £1.7bn. It came as retail customers expanded by a record 16m as the [...]
Revolut poised to hit Natwest and Lloyds in deposit war March 20, 2026 Revolut’s long-awaited UK banking licence approval is set to trigger a “deposit war” that could hand a major blow to incumbent giants Natwest and Lloyds. The $75bn fintech juggernaut finally bagged its full-fat UK banking permit earlier this month after a four-year tussle with regulators. Analysts are expecting the move to send ripples across the [...]