Banking

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.

TSB Bank plc announced its 2022 half-year results reporting a £102.9 million statutory pre-tax profit for H1. TSB's statutory pre-tax £102.9m profit increased from £42.9m for the same period in 2021. This comes during an economically challenging time for many of its customers.

The Competition and Markets Authority (CMA) has ordered Monzo to comply with banking rules. This latest action by the CMA comes after Monzo breached the Retail Banking Market Investigation Order between May 2021 and March 2022.

Lloyds group has reported a pre-tax profit of £3.7 billion for the first half of 2022, a result that beat expectations.

Clydesdale Bank owner Virgin Money has announced a new credit card product that will allow customers to buy now, pay better.