Today's SFN: 1st November 2026

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29th October 2026

The leading independent financial news service for Scotland's financial sector

Lloyds Banking Group nearly doubles third-quarter profit to £2.3bn as transformation pays off

Lloyds Banking Group is finally reaping the rewards of its transformation over the past five years as the lender reported a near doubling of pre-tax profits over the third quarter to £2.3bn.

uk government

Bank surcharge rise “manageable” but UK lenders most exposed, say credit analysts

Morningstar DBRS has said the Chancellor’s decision to double the bank surcharge to 6% will be “manageable” for the sector, though UK-focused lenders will feel the greatest impact.

scottish budget

Banking levy ‘treats the niggles, not the underlying problems, warns SFE boss Sandy Begbie

Sandy Begbie has blasted Chancellor John Healey over the temporary increase in the bank surcharge announced in his maiden Budget, warning it prioritised short-term politics over the UK’s long-term economic health.

city of london corporation

City body says bank tax rise ‘must end as scheduled” as industry reacts to John Healey’s maiden Budget

banking

Christine Lagarde to step down early as European Central Bank president

st james's place

St James’s Place net inflows slump to £570m, but funds under management hit record high

regulatory

Zumo teams up with Quantum Chain to guard digital assets against quantum threat

In Case You Missed It...

	banking Banks set to report hike in profits
	uk government Cash ISA allowance to stay at £20,000 as John Healey ‘set to ditch’ Reeves’ Reforms
	wbg Wbg expands with Dunedin acquisition
	scottish national investment bank Scottish National Investment Bank appoints three new directors
	st james's place St James’s Place net inflows slump to £570m, but funds under management hit record high
	regulatory Santander UK profits slip 6% as motor finance and TSB restructuring costs Bite

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