Banking

The Financial Conduct Authority (FCA) has urged banks to improve the savings rates they offer their customers at a faster pace.

At a time when other banks are increasingly prioritising digital banking and closing many of their branches, the Scottish Building Society has opened its new Edinburgh relationship centre reaffirming its commitment to high street banking.

New data from financial mutual Scottish Friendly has revealed the number of newly opened stocks and shares ISA policies dipped -7% in Q1 2023 compared with Q4 2022. Meanwhile, the value of those new policies also dipped -6% over the same period.

Private bank Hampden & Co has appointed Patrick Preece as a banking director at its London office. Prior to joining the Edinburgh-headquartered bank, Mr Preece was at Investec where he worked in their city professionals team. He has also worked at C. Hoare & Co, where he was a rela

The Royal Bank of Scotland owner, NatWest Group, and the University of Edinburgh have announced a five-year strategic partnership establishing the Centre for Purpose-Driven Innovation in Banking.

Bank of Scotland owner Lloyds Banking Group and Barclays have announced the closure of 63 branches across the UK, 18 of which are located in Scotland.

A third (36%) of UK businesses plan to adapt their strategies to navigate financial challenges over the next six months, according to new research from HSBC UK.

Anne Boden, the founder of Starling Bank, is to step down from her role as CEO, effective from 30 June, transitioning to a non-executive role on the board. John Mountain, the current COO, will assume interim CEO responsibilities, steering the digital bank into its forthcoming growth phase.

NatWest Group plc has agreed to an off-market purchase of 469.2 million of its shares from HM Treasury, amounting to £1.26 billion in consideration.

In a move for customer rewards, Nationwide Building Society has announced a significant redistribution of profit to its customers, strengthening the appeal of its mutual structure. This action follows a 40% rise in annual profit, amounting to £2.2 billion, resulting from a succession of intere

Virgin Money's pretax profit for the six months to 31 March 2023 dropped 25% to £236 million, exceeding analysts' estimates of £226m.

Lloyds Banking Group has reported a pretax profit of £2.3 billion for Q1 2023, surpassing analyst expectations and marking a significant increase from the £1.5bn in Q1 2022.

Natwest Group has reported a Q1 pretax operating profit of £1.8 billion, significantly surpassing analysts' expectations of £1.6bn and marking a more than 50% increase from the £1.2bn recorded during the same period last year.

Edinburgh-headquartered private bank Hampden & Co has appointed Mark Plummer as Head of Private Banking for its London office. One of the most experienced professionals in UK private banking, Mark began his career at Coutts, spending 12 years there before spending a further 13 years at C. Hoare

The Scottish Building Society has reaffirmed its commitment to Scotland's high streets by unveiling its revamped Galashiels relationship centre on Bank Street, part of a nationwide investment in its physical branches. CEO Paul Denton joined staff and local members in celebrating the refurbishment, w