Banking

Metro Bank will soon sell a significant portion of its mortgage portfolio to Barclays, after shareholders approved a £925m bailout deal. The troubled lender has been in discussions with potential buyers to offload about £3bn of homeowner…

Lloyds Banking Group is preparing to restructure their business in order to focus more on digital services. A person with knowledge of the situation says that the bank will be reviewing thousands of middle management positions. This…

The European Central Bank warned that bank losses in the Eurozone will continue to rise as high rates of interest hit households, businesses and companies. ECB Vice-President Luis de Guindos stated that lenders are beginning to…

Andrew Bailey warned the markets not to underestimate the UK's persistent inflation, and emphasized that he expects the Bank of England to keep interest rates at high levels for a long time. The BoE Governor told MPs Tuesday that…

A top investment bank warned that the Bank of England’s decision to sell off government bonds costs taxpayers £15bn a yearly and limits Jeremy Hunt’s ability to reduce taxes. Deutsche Bank stated that Threadneedle's decision to…

The scale of the interest rate hikes has not yet been fully felt, so optimism may be short lived. The British economy seems to have escaped a bullet. is not in a recession despite a massive energy price spike last winter,…

A cash crunch has hit the main supplier of print to Britain's high-street banks. The future for the paper bank statement could be at risk. Lloyds is leading a rescue effort led by the finance industry to save Leeds' Communisis, but this…

As part of its post Brexit push to boost London's City, the UK announced it would scrap the EU-inherited cap on bankers bonuses. This move comes after a consultation in this year about whether to repeal a rule from 2014 that limited…

Revolut was everywhere during the recent UK political party conference season. Fintech company Revolut co-sponsored Labour’s opening reception in early this month, and also hosted events at Conservatives' convention a week earlier. The…

Goldman Sachs reported a 36% drop in its third quarter profits. This is the eighth consecutive quarter that earnings have fallen. The bank has been struggling with losses after its withdrawal from retail banking, and writing downs on real…

Conister Bank is the first Isle of Man lender to receive a UK deposit licence. The Prudential Regulation Authority has approved the branch of Manx Financial in Basingstoke in Hampshire to accept deposits. This will further increase…

Lloyds Banking Group will auction the Telegraph and Spectator magazines as soon as this week despite a new attempt by the Barclay Family to stall the process with a higher offer of £1bn. Barclays has made several attempts over the summer…

Santander is investing $250mn over the next two-years to expand its Corporate and Investment Bank, while Wall Street rivals prepare for the largest job cuts since financial crisis. This year, the Spanish lender has hired over 100…

Metro Bank won the support from 75 percent of its bondholders for a debt refinancing agreement of £600mn that was hastily agreed on the weekend to fill a hole in capital. The UK high street lender was under pressure to strengthen its…

The Bank of England is pushing for money market funds to be able to hold twice as much easily-sellable assets. This is the latest step taken by financial watchdogs around the world to reduce Shadow Banking risk. Experts on financial…

Ireland is the latest European nation to increase taxes on banks, targeting the higher profits that lenders made from the rising interest rate. Dublin announced that as part of its Irish Budget, which was released on Tuesday morning, the…

Metro Bank secured a funding deal worth £925 million last night. The deal will help the struggling lender, but it will also hurt its investors. It is likely to leave the group with high borrowing costs. After a weekend filled with…

Europe's money printing spree could trigger bailouts on the Continent, as governments are forced to pay for a decade of cheap currency. BNP Paribas has warned that the European Central Bank's (ECB) continued shrinkage of its balance…