Banking

HM Revenue & Customs (HMRC) is set to replace Barclays with Bank of Scotland-owner Lloyds Banking Group in a significant government banking contract, ending a ten-year agreement. The move, worth £99 million to Lloyds, comes as HMRC awards a new £334m, 12-year contract to a consortium

Thousands of Nationwide, TSB, and Bank of Scotland-owner Lloyds Banking Group customers across the UK experienced significant disruption on Friday morning as a technical fault rendered their mobile banking apps inaccessible. Downdector recorded a surge of over 4,000 reports of issues, affecting user

Lloyds Bank's top executives are set to receive substantial bonuses, despite the lender's recent financial results and ongoing branch closures. Chief executive Charlie Nunn will receive a £1.1m bonus, with finance boss William Chalmers set for £812,014, according to the bank's annual rep

St Andrews-born Jane Fraser, CEO of Citigroup, has become the world's highest-paid female banker, with her total compensation exceeding $100 million. The 57-year-old, the only woman leading a major global bank, earned $34.5 million (c. £27.4m) in 2024, bringing her earnings since taking the he

Standard Chartered PLC has announced a further $1.5 billion (c. £1.2bn) share buyback following a 20% jump in underlying pre-tax profit to $6.8bn (c. £5.4bn) for the year ending 31 December 2024. This surge was driven by a 13% increase in operating income to $19.7bn (c. £15.6bn), w

Bank of Scotland-owner Lloyds Banking Group has reported a significant 20.4% drop in annual pre-tax profit, falling short of market expectations. The UK's largest mortgage lender posted a profit of £5.97 billion for 2024, down from £7.5bn in 2023, missing analysts' forecasts of £6.

HSBC has announced plans to save $300 million (c. £240m) in 2025 and cut $1.5 billion (c. £1.2bn) from its annual cost base by the end of next year. This comes as the bank details the impact of Group CEO Georges Elhedery’s restructuring. The bank also aims to redeploy $1.5bn from n

NatWest has announced a rise in annual profits, boosted by loan growth, improved margins, and low default rates, despite a weakening UK economy in the latter half of the year. The bank reported net income of £4.8 billion, up from £4.6bn the previous year.

Lloyds Banking Group has put thousands of IT jobs under review as it seeks to modernise its digital banking services and compete with fintech rivals. The bank informed around 6,000 tech and engineering staff that their roles are at risk of redundancy, but will increase by 1,200, City AM reports.

A new survey from HSBC UK explores how people in the UK are managing their finances, shedding light on a variety of spending priorities, saving habits, and barriers to saving and investing.

Bank of Scotland-owner Lloyds Banking Group has confirmed it will close a further 136 branches by March next year, citing a significant shift towards digital banking among its customers.

The biggest banks’ most flexible easy access accounts now sit in the bottom quartiles of the market, while, in contrast, some of their fixed rate bonds on offer sit in the top quartile, according Moneyfacts. The analysis from Moneyfacts Consumer Duty Audit Tool for Savings shows that, despite

Lloyds Banking Group, owner of Bank of Scotland and the UK's largest retail lender, has announced plans to transform its Edinburgh city centre site into a state-of-the-art innovation hub.

Lloyds Banking Group, owner of Bank of Scotland and the UK's largest retail lender, is set to axe hundreds of jobs, as part of a major restructuring effort. The bank aims to cut costs and digitise its operations, leading to changes affecting over 1,000 roles.

Bank of Scotland-owner Lloyds Banking Group has announced it will allow customers of its three brands – Lloyds, Halifax, and Bank of Scotland – to use any branch regardless of which brand they bank with. The group claims the move will offer greater choice and flexibility, although it has