Nationwide posts bumper year after stamp duty rush May 29, 2025 Nationwide Building Society bolstered its takings in the 12 months to March 31 2025, after a rush to beat the stamp duty deadline led to a surge in first-time buyers. The firm said it served more first-time buyers than any other lender in the UK, with 120,000 purchasing their first home. This was a significant leap from [...]
Investec rakes in £1bn profit after lending and deposit boost May 22, 2025 Investec’s profit soared to more than £1bn in its latest financial year after increased lending and deposits bolstered its revenue. The FTSE 250 bank recorded a 7.8 per cent annual jump in operating profit to just over £1bn for the year to 31 March, 2025. This beat the bank’s own upgraded forecast in March, where [...]
HSBC UK to slash bonuses for staff not turning up to office May 21, 2025 HSBC has told its UK-based retail workers that failing to show up to the office could see their bonuses slashed. Europe’s biggest bank informed staff in the retail and domestic commercial arm that if they are not following the firm’s three-day minimum requirement to work in office they could be paid less as a result. [...]
Reeves warned against bank tax raid May 21, 2025 Rachel Reeves has been warned of the growth consequences of upping tax on lenders after a leaked memo from Angela Rayner called for the Chancellor to launch a cash grab on banks. Reeves was sent a memo by the Deputy Prime Minister ahead of the spring Statement, which called for an annual £700m hike on [...]
Close Brothers shares drop as costs rise from motor finance threat May 21, 2025 Close Brothers said fees and expenses were still at an “elevated level” in a third-quarter update on Wednesday as motor finance troubles continued. The group’s net expenses hit £13.9m for the period, compared to £11.6m for the third-quarter in 2024. The lender said it continued to experience heightened “professional fees and expenses” following the Financial [...]
MPs grill Barclays on outages as HSBC raises cyber attack concerns May 20, 2025 Bank chiefs have said they are ramping up spend on cyber defences after a spate of attacks have blighted the retail sector. HSBC’s UK boss Ian Stuart told the Treasury Committee the bank’s work on cyber protection and IT infrastructure was the “biggest expense in the business”. “Cyber security is at the top of the [...]
Natwest and Lloyds to cash in as Reeves hints at ring-fencing reform May 19, 2025 Rachel Reeves has told top bank bosses she is “open-minded” to ditch the ring-fencing regime imposed on major banks. The Chancellor was lobbied by the chiefs of HSBC, Lloyds, Natwest and Santander to scrap the 15-year-old legislation last month. Lenders slammed the system – which requires firms to keep their retail bank operations separate from [...]
Natwest and Lloyds to rake in millions from a ring-fencing shakeup May 16, 2025 Natwest and Lloyds are set for a major cash bump if Chancellor Rachel Reeves rips up the ring-fencing regime imposed on lenders, fresh data shows. FTSE 100 banking giants have lobbied the Chancellor to axe the system, which they described as a “drag on banks”. The bosses of HSBC, Lloyds, Natwest and Santander slammed the [...]
Analysts say ‘Buy’ Vanquis shares after payday loan turnaround May 15, 2025 Vanquis shares could finally be about to turn a corner, according to one group of City analysts. The shares peaked at more than 2,600p in 2015, and have since fallen by more than 96 per cent as Vanquis has endured soaring complaints and regulatory backlash thanks to its sub-prime lending and payday loan market exposure. [...]
Natwest: Shares in FTSE 100 giant smash decade high May 15, 2025 Shares in banking giant Natwest notched a ten-year high on Thursday as the government continued to whittle down its stake in the lender. The FTSE 100 giant’s stock was up nearly one per cent during mid-day trading and touched highs of 498.8p. Natwest shares are up nearly 24 per cent since the beginning of 2025 [...]