Banking

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

Over 8,000 Royal Bank of Scotland bank staff could lose tens of thousands of pounds in inflation-secured pension payments due to what has been labelled an executive 'error'.

According to the latest Royal Bank of Scotland PMI data, the Scottish private sector saw a second successive monthly rise in business activity, with underlying data showing quicker growth across both the manufacturing and service sectors.

Carlos Abarca, former chief information officer (CIO) at TSB Bank, has been personally fined £81,620 in an unusual move by the Bank of England's Prudential Regulation Authority (PRA) for inadequately managing an IT migration that led to massive disruptions for millions of customers.

Governor Andrew Bailey has revealed that the Bank of England is contemplating reforms to the UK's bank deposit insurance guarantee scheme, which may result in increased protection for customers.