Banking

Bank of Scotland-owner Lloyds Banking Group has reported a pre-tax profit of £1.6 billion for the first quarter of 2024, marking a 28% decrease from the same period last year when it reported £2.3bn in profits. This decline follows the banking giant's record-breaking annual pre-tax profi

The Scottish National Investment Bank (SNIB) has committed a further £20 million to the mid-market rent strategy managed by Thriving Investments, the social value and ESG-focused real estate fund manager. The bank’s follow-on investment will support the development of up to 100 new homes

Coventry Building Society has reached an agreement for a potential acquisition of The Co-operative Bank. The deal, valued at up to £780 million, follows exclusive talks between the two entities since mid-December. Pending definitive agreements, the acquisition is poised to reshape both institu

Ahead of the UK's biggest lenders reporting first quarter results, research from KPMG UK has shown that while banking executives in Scotland are optimistic about overall business growth and profitability in the quarter, inflation, interest rates and cost pressures are the biggest challenges that co

The Royal Bank of Scotland (RBS) has revealed plans to close a further 18 out of its 86 branches, including three in Edinburgh.

Edinburgh-based private bank Hampden & Co has experienced a nearly 20% increase in new client numbers during the financial year 2023, reaching a record high of 5,598. Client growth was driven by demand for personalised banking and bespoke lending following introductions from existing clients, pr

Leith-headquartered Castle Community Bank has reported a year of strong growth for 2023 at its AGM, with total membership figures up to over 46,000 in September. Chief executive Adrian Sargent said: “I’m proud of our team, and the growth that we have achieved this year.

Unity Trust Bank, which supports organisations delivering positive social impact across the UK, has reported record lending of over £1 billion in its 2023 annual results. This marks the first time the 40-year-old bank has exceeded this milestone, with nearly half (48.2%) of its financing in Sc

Nationwide Building Society and Clydesdale Bank-owner Virgin Money have formally agreed on the £2.9 billion acquisition deal proposed earlier this month.

Pete Wishart, MP for Perth and North Perthshire, visited the Nationwide Building Society branch in Perth this week to celebrate 60 years on the high street. During the visit, Mr Wishart met the branch team and the branch manager Anthony Nicholson to discuss the importance of face-to-face financial s

Nationwide, the UK's largest building society, has proposed to offer of 218p per share in cash for the takeover of Clydesdale Bank-owner Virgin Money UK, valuing the deal at £2.9 billion.

Bank of Scotland-owner Lloyds Banking Group has earmarked £450 million to cover potential fines and compensation related to an ongoing investigation by the Financial Conduct Authority (FCA). The FCA is scrutinising whether consumers were charged inflated prices for car loans, focusing on loan

HSBC Group has increased its CEO Noel Quinn's pay package to £10.6 million, almost doubling his earnings from the previous year, despite a Q4 profit drop. The hit came from the bank's exposure to China's real estate downturn, resulting in a 78% decline in quarterly profits, falling to $1 billi

Barclays, in its first strategy update in a decade, has revealed plans to cut £2 billion in costs as part of a corporate shake-up aimed at boosting shareholder payouts by £10bn within the next three years.

J.P. Morgan Private Bank has announced it is expanding its footprint in Scotland with the addition of a new team of dedicated advisors in Edinburgh. The new team of dedicated advisors will join the existing team based in Edinburgh and will provide wealth management services to individuals, family of