S&U shares slump after motor finance drags profits down April 15, 2025 Shares in specialist lender S&U dropped nearly two per cent on Tuesday after annual profits tumbled due to challenges from the motor finance scandal. Pre-tax profit for the financial year ending January 31 2025 fell to £24m, compared to £33.6m in the previous period. Impairment charges rose to £35.6m for the group, reflecting a near [...]
Financial Conduct Authority: Lenders ‘unclear’ on bereavement policy April 14, 2025 Lenders “can improve” their treatment of bereaved customers, the Financial Conduct Authority has said. The City watchdog has published a framework outlining good and poor practice to help firms “provide the right support” to consumers who are facing difficult times. The FCA said the introduction of the Consumer Duty in July 2023 has helped provide [...]
Barclays shares explode higher as FTSE 100 rebounds April 10, 2025 Shares in FTSE 100 giant Barclays rocketed in early trading after Trump rolled back his ‘Liberation Day’ levies. The bank’s stock shot up over 20 per cent as markets opened, before falling back to a 15 per cent gain. The firm topped the blue-chip index’s risers. The gains helped reverse the lender’s losses in the [...]
Billions on the line: Legal showdown over motor finance set to decide lenders’ fate March 28, 2025 Lenders sit in shark-filled waters with their fate in the hands of five Lord Justices as parties prepare for a showdown over motor finance on Tuesday
Shawbrook Bank reports profit slump despite loan book growth March 27, 2025 Shawbrook Bank announced a boost to its deposit and loan book in its annual results, driven by commercial and retail markets. The bank’s loan book grew 16 per cent to £15.2bn in 2024, compared to the £13.3bn recorded in 2023. Despite this, profit before tax dipped to £294m, a minor drop from the £302m booked [...]
Stamp duty: TSB and Shawbrook join mortgage lender call for reform before Budget October 15, 2024 A group of mortgage lenders and brokers have called on the government to refund stamp duty for homeowners in a bid to accelerate energy efficiency improvements in UK housing and reduce national emissions. TSB, along with Shawbrook, the Mortgage Advice Bureau (MAB) and Leeds Building Society, have called on the government to provide more support [...]
TSB Bank handed huge fine for failing customers in arrears October 10, 2024 The financial watchdog has fined bank TSB almost £11m over its treatment of customers, but the penalty could have been even worse. TSB Bank will have to pay £10,910,500 after the Financial Conduct Authority (FCA) found it had failed to ensure customers in arrears were treated fairly. The FCA said it also didn’t have sufficient [...]
Onesavings Bank chief’s pay slashed by 40 per cent after slump in profit April 16, 2024 The chief executive of Onesavings Bank has seen his remuneration for last year slashed by 40 per cent after the specialist lender posted a slump in annual profit.