Banking

The Competition and Markets Authority (CMA) has approved Nationwide Building Society's £2.9 billion acquisition of Virgin Money UK.

The UK's largest banks have become engaged in a fierce competition to attract borrowers, resulting in significant cuts to mortgage rates. Halifax, HSBC UK, Barclays, Santander, Natwest, and Yorkshire Building Society are among those who have lowered their fixed-rate deals this week.

Lloyds Banking Group has announced it is shutting down 60 more branches, with 15 of them being Bank of Scotland outlets. This is part of a larger plan to close 190 branches this year and 47 more in 2025. The bank attributes this to the increasing popularity of digital banking, stating that usage of

Revolut has posted a 95% surge in revenues to $2.2 billion (around £1.74bn), and a record profit before tax of $545 million (around £430m), marking the fintech's third consecutive year of profitability. The company attributed its success to a focus on core banking services in Europe, str

RBS-owner NatWest Group has agreed to buy a significant portion of Sainsbury's banking business. The banking group will acquire approximately £2.5 billion of gross customer assets, comprising £1.4bn of unsecured personal loans and £1.1bn of credit cards balances, together with appr

Nationwide Building Society members are being asked to approve a new pay deal for chief executive Debbie Crosbie, potentially tripling her maximum long-term bonus to £3.42 million. The proposal comes after Ms Crosbie's plan to acquire Virgin Money UK for £2.9 billion, significantly incre

Virgin Money, set to be acquired by Nationwide Building Society in a deal worth £2.9 billion, reported a half-year pre-tax profit of £279 million.

Starling Group, has marked its third consecutive year of profitability, posting a 54.7% surge in pre-tax profits to £301.1 million for the year ending 31 March. Revenue at the group – which comprises challenger bank Starling Bank, Engine by Starling and Fleet Mortgages – also saw a

Aberdeenshire’s Skoff Catering, a family-run food firm from Dyce, is set for expansion following six-figure funding from Royal Bank of Scotland.

Nearly nine in ten (87%) 16-24 year olds have a savings account – more than any other age group, according to new data from HSBC UK.

Digital bank Monzo has announced its first-ever annual profit, driven by higher interest rates and increased income from transaction fees and subscriptions.

The Co-operative Bank brand could disappear from UK high streets amid its acquisition by Coventry Building Society for £780 million.

The Financial Conduct Authority (FCA) has imposed a £6,280,100 fine on HSBC, adding to the already £185 million that the bank has paid out in compensation to 1.5 million customers.

Government plans to launch an offering of NatWest shares to the general public have been derailed by the imminent general election.

Unity Trust Bank, which supports organisations to deliver positive social impact, has been named by The Sunday Times in its annual Best Places to Work Awards. The list recognises and celebrates the UK’s best employers, based on feedback from employees and an independent assessment of six key a