Specialist lenders One Savings Bank and Charter Court both boost loan books ahead of merger May 15, 2019 Challenger banks One Savings Bank and Charter Court have both reported loan book growth ahead of their proposed merger. One Savings Bank reported five per cent loan book growth to £9.4bn in the first quarter of the year, due to strong commercial and residential lending. Read more: One Savings Bank and Charter Court confirm £1.6bn [...]
Bank of England warned prosecutors against charging Barclays over controversial Qatar payments May 15, 2019 The Bank of England warned fraud prosecutors against charging Barclays over Qatar payments made at the height of the financial crisis, it has emerged. The Bank’s top regulator Sam Woods told the Serious Fraud Office in 2017 that criminal charges could pose a threat to Barclays’ safety and soundness, the Financial Times reported. Woods, [...]
Metro Bank shares continue to soar ahead of £350m capital raise announcement May 15, 2019 Metro Bank shares have continued to climb this morning as investor confidence grows ahead of the challenger bank’s £350m capital raise. The embattled bank is expected to announce the results of its fundraising efforts later today after the market closes. Read more: Metro Bank shares sink to fresh all-time lows after Whatsapp rumours Shares have [...]
Clydesdale Bank owner CYBG shares jump as it hits profit after £1.7bn Virgin Money merger May 15, 2019 Clydesdale Bank owner CYBG reported a profit boost in its first set of results since combining with Virgin Money after a “resilient” performance in tough market conditions. Read more: CYBG raises business banking fees weeks after RBS competition fund snub Shares in the bank rose more than seven per cent in early trading after the results [...]
Dyson travels down new path, but are customers on board? May 15, 2019 Plans for Dyson’s “radically different” electric car have been revealed. Founder James Dyson said that the patents were deliberately light on specifics, but hinted towards unusual proportions and off-road potential. Most famous for their vacuum cleaners and fans, this diversion into the motoring industry is a bold move. James Dyson explained the concept in a [...]
Metro Bank shares rebound from all-time lows after Whatsapp rumours quashed May 14, 2019 Metro Bank shares have rebounded today after plunging to all-time lows following false Whatsapp rumours of fresh financial turmoil. The challenger bank’s share price has risen 7.7 per cent this morning, returning to 511p – similar levels as yesterday morning. Read more: Metro Bank denies rumours of financial trouble ahead of fundraising But the stock [...]
Nationwide scoops £50m prize for small business lending May 14, 2019 Nationwide has won the latest round of funding from a high-profile grant designed to boost small business lending in the UK, pocketing the top £50m prize. Read more: Nationwide invests in ex-Barclays CEO's firm to boost business banking Investec and the Co-operative Bank were also named as winners, taking home £15m each. The awards, handed [...]
Non-Standard Finance confident of winning competition watchdog approval for £1.3bn Provident bid May 13, 2019 Non-Standard Finance said it expected to alleviate the competition watchdog’s concerns over its proposed £1.3bn hostile takeover of rival subprime lender Provident. The Competition and Markets Authority (CMA) launched an investigation into the potential deal in February and prevented NSF from taking steps to integrate the two businesses. Read more: Sparks fly as Provident accused [...]
Swedbank proposes new board in bid to steady ship after money-laundering scandal May 13, 2019 Investors in under-fire Swedbank will vote on the future of the company within the next six weeks, as the company today formally proposed a new board headed by former Swedish Prime Minister Goran Persson. The bank’s five largest shareholders have called for an extraordinary general meeting to be held before the midsummer holiday on 21 [...]
Metro Bank shares sink to fresh all-time lows after Whatsapp rumours May 13, 2019 Metro Bank shares have plunged further to fresh all-time lows after the challenger bank was forced to quash fresh rumours of financial turmoil ahead of a £350m rights issue. Customers rushed to branches in west London over the weekend to withdraw money and items from safe deposit boxes following warnings on Whatsapp. Read more: Metro [...]