Manx Financial Group shares jump after subsidiary secures UK banking licence October 16, 2023 Manx Financial Group shares rose on Monday after the financial services company announced that its banking subsidiary Conister Bank received a licence to take deposits in the UK. The decision marks the first time an Isle of Man-based bank has been granted a UK branch deposit-taking licence. Manx said the bank can now accept deposits [...]
US banks Wells Fargo, Citi and JP Morgan continue to benefit from higher interest rates October 13, 2023 In results covering the three months to September, Wells Fargo, Citi and JP Morgan reported that net interest income - the difference between what banks pay out and earn on interest payments - climbed ever higher.
‘My banking issues are now over’: Brexit leader Nigel Farage announces new account with Lloyds October 13, 2023 Today, Farage took to X and wrote: "After being refused banking facilities by ten other banks, my banking issues are now over."
JP Morgan boss Jamie Dimon warns world is witnessing ‘most dangerous time in decades’ October 13, 2023 Jamie Dimon, chief executive of JP Morgan, said the early 2020s were shaping up to be "the most dangerous time the world has seen in decades" as the Wall Street banking giant reported another increase in profit.
‘Deutsche Numis’: Deutsche Bank completes acquisition of City broker October 13, 2023 The tie-up was one of the largest examples in the consolidation of smaller investment banks in the UK and around the world as smaller investment banks are rocked by a deals slowdown and an M&A drought.
Interest rates: Higher borrowing costs to dent mortgage lending further, banks report October 12, 2023 The rate of defaults is expected to increase as customers struggle under the weight of higher borrowing costs.
Jes Staley fined £1.8m over ‘reckless’ misleading statements on relationship with Jeffrey Epstein October 12, 2023 "The FCA has found that Mr Staley recklessly approved a letter sent by Barclays to the FCA, which contained two misleading statements about the nature of his relationship with Jeffrey Epstein", the FCA said.
Metro Bank founder: I told them branches wouldn’t work 10 years ago October 12, 2023 The founder of Metro Bank claims he warned the struggling lender against its sprawling network of branches some ten years ago - but the board failed to listen.
Metro Bank bondholders back refinancing plans despite significant haircut October 11, 2023 Metro Bank has secured approval from its bondholders to go ahead with major refinancing plans.
Why mortgage rates are still heading down despite rising bond yields October 11, 2023 Mortgage rates have continued falling in the UK even as yields on government bonds have increased.