Banking

HSBC shares fell to their lowest level since 2020, after the bank announced a 80% drop in its quarterly profit. It also took a $3bn hit on the value of a stake it holds in a Chinese Bank. HSBC announced on Wednesday that the pre-tax…

Monzo, the British digital bank, is close to a new funding round that will value it at around £4bn. This would be a sign that investors are confident in the company's expansion. People said that the UK fintech may finalise an agreement…

Barclays' chief executive has revealed a plan for reviving the bank's share price, which is currently in decline. The plan is to invest £30 billion in Britain in order to stimulate growth and deliver £10 billion to shareholders over three…

The Bank of England's ex-chief economist has cautioned policymakers about the risk of damaging the economy by maintaining high interest rates for an extended period. Andy Haldane, who was chief economist for seven years until 2021, said…

Barclays will give its shareholders up to £9 billion in the next three year as part of its turnaround plan, which its chief executive is set to unveil on Tuesday. C S Venkatakrishnan (Venkat) is under pressure to increase the share price…

The Bank of England governor has welcomed the "good news" about inflation but warned that it will not cut rates immediately if, as expected, prices fall to just 2 percent this spring. Andrew Bailey responded to figures that showed the…

Private equity owners at Shawbrook want to revive their plans to float the bank to boost the London Stock Exchange. Shawbrook was purchased by BC Partners and Pollen Street Capital in 2017 for £868million. Private equity firms had…

More than £1 trillion of the nation's savings is sitting in accounts earning less than 2 per cent, while the base interest rate is 5.25 per cent, according to an analysis of Bank of England credit data. The figures, which include money…

Over 80 percent of British firms expect to raise the prices of their products and services in the next two-year period, raising concerns that inflation won't fall back to Bank of England target. PwC conducted a survey on companies and…

Iran used two of Britain's largest banks to move money covertly around the globe as part of an extensive sanctions-evasion plan backed by Tehran’s intelligence services. Documents show that Lloyds and Santander UK opened accounts for…

The government wants to convince up to 2 million people to buy NatWest shares when it sells its stake in the bank. The company has asked marketing firms to pitch to run the publicity campaign for the sale to create buzz similar to John…

The Bank of England said that borrowing costs had peaked, and inflation would fall to the target of 2% in the spring. Andrew Bailey, governor of the state, stated that the "key" question was now when to reduce rates. This could provide…

Mortgages requiring a 1pc down payment can increase risks for banks, and distort financial incentives for homeowners. The government is looking into plans to introduce a mortgage of 99 percent for first-time home buyers. Jeremy Hunt…

The Bank of England is likely to acknowledge this week that it is seeing unexpectedly rapid progress in getting inflation down, analysts said, but the central bank is not expected to begin cutting interest rates yet. The BoE’s Monetary…

In a dispute between Lloyds Banking Group and a businessman worth £1.3 billion, the High Court will hear claims that the Bank of England encouraged manipulation of Libor. Ardeshir Naghshineh is suing Lloyds for allegedly "fraudulently…

CPI on track to reach Andrew Bailey's spring target - when will interest rate drop? Andrew Bailey is being pressed. Andrew Bailey is under pressure. Bailey warned that the last mile in the battle against inflation was the most…

The number of businesses on the verge of bankruptcy has increased by a quarter over the last three months due to a "perfect storm" that includes higher interest rates, increasing costs and a downbeat consumer market. According to Begbies…

After suffering a second consecutive annual loss, the Bank of London, which is a newly formed clearing bank with Lord Mandelson as its chairman, raised £25m in investment funds. After winning a banking license, the company was launched…