Banking

The Payment Systems Regulator (PSR) has imposed a fine of £3,779,300 on Bank of Ireland UK for failing to implement the confirmation of payee (CoP) anti-fraud system by the required deadline.

The House of Commons Committee of Public Accounts has published a scathing assessment of National Savings & Investments’ (NS&I) Business Transformation Programme, labelling the multi-billion-pound initiative a "full-spectrum disaster". Originally launched in 2020 as Project Rainbow to

UK bank executives are set to convene this Thursday for their first meeting to establish a domestic alternative to Visa and Mastercard. Chaired by Barclays UK chief executive Vim Maru, the group of City funders aims to develop a sovereign payment infrastructure to safeguard the UK economy against po

NatWest Group has reported its strongest financial performance since the 2008 crash, with 2025 pre-tax profits surging to £7.7 billion. This represents a significant climb from the £6.2bn recorded the previous year, driven by broad-based growth across its retail and commercial divisions.

The Financial Conduct Authority (FCA) has confirmed the appointment of KPMG as the independent assessor responsible for evaluating proposals to establish a new standards-setting body for UK open banking APIs. This 12-week assessment is designed to identify which organisation is best positioned to le

Barclays has reported a 13% increase in annual pre-tax profit to £9.1 billion for 2025, a performance that has fuelled a major hike in executive pay and staff bonuses. The UK bank increased CEO C.S. Venkatakrishnan’s total pay package to £15 million for 2025, up from £11.6m t

Santander has announced it plans to close a further two of its branches in Scotland, as part of a total 44 closures across the UK in 2026 and into early 2027. The two Scottish locations include the Kirkintilloch branch in East Dunbartonshire, set to shut on 29 April, and the Stranraer site in Dumfri

Lloyds Banking Group has announced a fresh £1.8 billion share buyback after a robust performance in the 2025 financial year, where pre-tax profits jumped 12% to £6.7bn. The banking giant surpassed internal expectations of £6.4bn, demonstrating resilience despite the Bank of England

Edinburgh-headquartered Hampden Bank has made three senior hires as it continues to scale up its personal banking service south of the border. Liz Williamson, Ian Noke and Claire Lattin have joined as banking directors to serve the banking needs of clients across the North & Midlands.

The Post Office has finalised a new five-year agreement with Cash Access UK to continue operating and expanding Banking Hubs across the nation. The deal reinforces the Post Office's central role in maintaining financial inclusion, building upon the 200 hubs already in operation. The partnership is a

Banks and payment providers are set to gain the freedom to establish their own contactless transaction limits under new rules introduced by the Financial Conduct Authority (FCA). Effective from March 2026, this regulatory shift moves away from the current uniform industry cap, allowing institutions

HSBC has pledged to keep all 327 of its UK branches, including seven in Scotland, open until at least 2027. Underpinning this promise is a substantial £55.8 million investment earmarked for the coming year, representing a 30% increase on the £42m spent in 2025.

The FCA has fined Nationwide Building Society £44 million for inadequate anti-financial crime systems and controls between October 2016 to July 2021. During this period, Nationwide had ineffective systems for keeping up-to-date due diligence and risk assessments for all its personal current ac

The people of Annan have enthusiastically welcomed the return of the Cumberland Building Society to the High Street following a three-month closure for extensive refurbishment. The reopening on Tuesday reaffirmed the society's commitment to the town, where it will soon stand as the sole provider of

HSBC Holdings has confirmed Brendan Nelson as its permanent chairman, concluding a seven-month search to replace Mark Tucker. The appointment has surprised the market, coming just one day after CEO Georges Elhedery stated that Mr Nelson, 76, had expressed a desire not to commit to the role for the t