Banking

The Joint Regulatory Oversight Committee (JROC) has appointed Bryan Zhang as independent chair of the newly set-up strategic working group (SWG). The committee, led by the Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) and including the CMA and HM Treasury, announced the forma

NatWest Group has announced that Scott Marcar will join its executive committee as chief information officer from 5 September 2022, subject to regulatory approval. Mr Marcar joins the group from Deutsche Bank where he was CIO. Scott has over 25 years of technology experience having led teams across

The Post Office has posted figures showing that a record £801 million in personal cash withdrawals were made in July.

Business activity across the Scottish private sector increased at only a fractional pace during July, according to the latest Royal Bank of Scotland PMI data. The seasonally adjusted headline Royal Bank of Scotland Business Activity Index - a measure of combined manufacturing and service sector outp

Edinburgh-based private bank Hampden & Co has hired Gill Sanders from Adam & Co as a banking director. Ms Sanders spent over 20 years with Adam & Co, most recently as associate director, private banking.

The Bank of England’s Monetary Policy Committee (MPC) has announced an interest rate hike of 0.5% today in the face of rising inflation. At its meeting ending on 3 August 2022, the MPC voted by a majority of 8-1 to increase Bank Rate by 0.5 percentage points, to 1.75%. One member preferre

Nationwide Building Society is extending the maximum loan size available to £5 million for mortgages with a loan-to-value ratio (LTV) of up to 75%. The following are the maximum loan sizes now available:

Clydesdale bank owner Virgin Money UK PLC's Q3 results have revealed a 45% increase in account sales keeping profitability strong. The bank saw roughly 45,000 digital personal and business current accounts opened in Q3, as well as 160,000 new credit cards opened. This follows a record 175,000 new cr

HSBC has released its 2022 H1 results and reported profit after tax of $9.2 billion (£7.5bn). Pre-tax profit has fallen but has come ahead of expectations. The bank has said it expects net interest income of at least $31bn (£25bn) for 2022 and at least $37bn (£30bn) for 2023,

Bank of Scotland-owner Lloyds Banking Group has announced that it will be closing 66 branches between October and January of next year. A total of 48 Lloyds Bank branches and 18 Halifax branches will be closing, none of which are in Scotland.

Leeds Building Society has announced that it will no longer lend money to people buying second homes.

UK banks have made initial claims worth £352mn from the government to cover losses on one of its flagship state-backed Covid-19 loan schemes, after recording default rates as high as 25%.

NatWest released its H1 results today reporting an operating pre-tax profit of £1.4 billion.

New research from Barclaycard Payments has found that cost of living increases are set to impact Business-to-Business (B2B) subscriptions in the UK as nearly half (49%) are considering reducing the number of services they subscribe to, as they tackle rising costs.

Barclays Bank Group has reported a profit of £3.7 billion for H1 in its interim report.