Mark Kleinman: Un-Wise handling of US listing move July 31, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly Morning Wire column Wise fails its name in handling of US listing move If only Wise was as smooth at transferring its stock market listing as it is moving its customers’ money. The company founded by Taavet Hinrikus and [...]
Nationwide wins big in mass switch from FTSE 100 banks July 30, 2025 Nationwide has raided the customer base of Britain’s banking titans as current account switchers flocked away from legacy firms. The building society welcomed nearly 73,000 switchers in the first three months of the year, compared to 17,000 outflows, according to Pay.uk data. This comes after the mutual returned billions to customers in 2024, whilst the [...]
Santander UK axes jobs and branches in transformation overhaul July 30, 2025 Santander UK recorded a surge in provisions as the bank powered forward with its transformation strategy slashing its branch network and shedding workers. The bank said provisions for other liabilities and charges were up 74 per cent to £249m driven by “higher transformation related charges”. The lender listed losses and provisions as rising 119.8 per [...]
Motor finance: ‘Nothing is certain’ as banks await historic ruling July 30, 2025 The Supreme Court will hand down what could be the “most consequential ruling for lenders” in recent history on Friday in the dramatic culmination of the motor finance saga. In a twist, the highest court in the land surprised the market last Friday evening after updating its system with the information that it will announce [...]
Banks shut eight branches a week since 2016 July 10, 2025 British banks have accelerated their retreat from the high street, shutting an average of eight branches a week since 2016 in a dash to bulk up digital offerings. Nearly 3,700 sites closed between 2016 and 2024, creating 41 ‘banking deserts,’ which refer to local authorities where at least one branch shut for every 10,000 residents. [...]
Labour’s Mansion House will be lift-off or letdown for banks July 9, 2025 Britain’s banking sector will be keeping a close eye on Rachel Reeves’ Mansion House speech on July 15 in which the Chancellor will lay out Labour’s roadmap for financial services. Banks are set to take centre stage in the Treasury’s Financial Services Growth & Competitiveness Strategy as Reeves looks to harness the sector to power [...]
Rachel Reeves urged to rip up ring-fencing in banking growth push July 7, 2025 Rachel Reeves is facing renewed pressure to scrap the ring-fencing regime imposed on British banking giants in a bid to bolster the sector’s international competitiveness and bolster economic growth. The Chancellor has been lobbied by top banking chiefs to ditch the “redundant” 15-year-old legislation, which requires major banks to separate their retail banking operations from [...]
Meet the Self-Mades: the high earners who aren’t investing July 4, 2025 High earners from lower socio-economic backgrounds are significantly less likely to invest. We should change that, writes Kitty McCormick.
Why did Santander buy TSB? July 3, 2025 Santander might have hoped its takeover of TSB would make waves across the banking industry, but analysts have dubbed it a more modest splash. The deal, which is set to be worth £2.9bn when closed in 2026, will add TSB’s five million customers, £34bn in mortgages and £35bn in deposits to Santander’s portfolio as well [...]
Santander snaps up TSB Bank for £2.9bn July 1, 2025 Santander UK has acquired high street bank TSB in a landmark £2.9bn deal that will significantly beef up the lender’s market share. The bank’s bid for an all-cash takeover from its Spanish peer Banco Sabadell values TSB at five times its expected 2026 net income. TSB will add five million customers, £34bn in mortgages and [...]