Banking

Revolut CEO Nik Storonsky stands to gain a multi-billion dollar payout if the fintech company achieves a valuation of approximately $150 billion (c. £112bn), under a pay package similar to Elon Musk's deal with Tesla. Mr Storonsky, who founded Revolut in 2015, currently leads a company valued

The Treasury has sold its final shares in Royal Bank of Scotland-owner NatWest Group, concluding 17 years of public ownership that began with a £45 billion taxpayer bailout during the 2008 financial crisis. This full privatisation marks a symbolic moment for the bank, formerly Royal Bank of Sc

Business confidence in Scotland rose 12 points during May to 52%, according to the latest Business Barometer from Bank of Scotland. While companies in Scotland reported lower confidence in their own business prospects month-on-month, down four points at 57%, firms’ optimism in the economy rose

A lack of access to critical resources is placing Edinburgh start-up businesses at risk, according to new research from HSBC UK.    The data, taken from a survey of 1,000 UK entrepreneurs, found that 30% of Edinburgh founders lack the resources and support they need to start their business

The Financial Conduct Authority (FCA) has banned Detelina Subeva from the UK financial services industry. Ms Subeva is the third former Credit Suisse employee banned for lacking integrity, following their US convictions for conspiracy to commit money laundering connected to corrupt loans to the Repu

NatWest Group is on the verge of returning to full private ownership for the first time in nearly 17 years, following a significant reduction in the UK government's shareholding. The Treasury has recently sold a further tranche of shares, decreasing its stake from 1.98% to just 0.9%.

NatWest Group posted a strong start to the year, with first-quarter operating profits before tax jumping 36% to £1.8 billion, significantly beating analyst expectations. This performance was driven by increased deposits and mortgage lending, the latter boosted by buyers finalising purchases be

HSBC has announced that its group chairman, Sir Mark Tucker, will retire before the end of 2025, concluding an eight-year tenure that began in October 2017. During his leadership, HSBC navigated significant global challenges, including the Covid-19 pandemic, rising living costs, and increased US-Chi

Lloyds Banking Group has reported a 7% fall in pre-tax profits to £1.52 billion for the first quarter, despite a 4% increase in net income to £4.39bn. The decline was primarily driven by higher costs and increased impairment charges for potential bad debts.

Barclays reported a strong start to 2025, with first-quarter pre-tax profits reaching £2.7 billion, comfortably exceeding analyst expectations of £2.5bn. The bank's shares rose over 1.5% following the announcement, but have since retraced during the day's trading.

HSBC reported first-quarter financial results for 2025 that surpassed analyst expectations, despite showing year-on-year declines primarily due to the impact of prior-year business disposals. Alongside the results, HSBC unveiled plans for a new share buyback programme of up to $3 billion (c. £

The Bank of Lithuania has imposed a €3.5 million (c. £3m) fine on Revolut for deficiencies in its anti-money laundering (AML) processes, marking the UK-founded fintech's largest financial penalty to date. The Lithuanian central bank, which oversees Revolut's European banking operations al

Lloyds Banking Group has announced it is strategically enhancing its artificial intelligence (AI) capabilities by training 200 senior leaders through an intensive 80-hour programme – "Leading with AI". Delivered in partnership with training provider Cambridge Spark and experts from Cambridge U

Hampden Bank has announced strong growth in its 2024 annual results, alongside significant expansion plans and the retirement of its chair, Simon Miller. The Edinburgh-headquartered bank saw double-digit increases in both deposits and lending. Deposits grew by 16% year-on-year to £991 million,

As part of HSBC's stringent cost-cutting strategy under chief executive Georges Elhedery, the bank has dismissed London-based investment bankers on their bonus announcement day, with many receiving no payout. The move, following the bank's January decision to shutter its mergers and acquisitions and