United Kingdom

Iain Withers

Small British banks want softer rules to help them compete

11 Dec 2019

LONDON Britain's mid-tier banks have asked the Bank of England to ease rules introduced after the financial crisis that they say hamper their efforts to compete with bigger rivals that have a tight grip on the market.

Britain's Lloyds criticized for mistreating victims of major fraud

10 Dec 2019

LONDON Lloyds Banking Group has been heavily criticized for mishandling a compensation scheme for victims of one of Britain's biggest banking scandals in a report published on Tuesday.

UPDATE 2-Metro Bank CEO Donaldson follows chairman out of door

04 Dec 2019

Dec 4 Metro Bank chief executive Craig Donaldson is leaving after a torrid year in which the British lender was engulfed in a damaging accounting scandal that has also cost it its chairman and wiped 90% off its market value.

Britain's RBS launches digital bank Bó to take on start-ups

27 Nov 2019

LONDON Royal Bank of Scotland has launched its standalone digital bank Bó in a plan to fend off competition from fast-growing online start-ups including Monzo and Starling. | Video

TSB and parent Sabadell heavily criticised for IT crash that locked 2 million out of accounts

19 Nov 2019

LONDON An IT crash at Britain's TSB bank that locked out nearly 2 million customers and halved parent Sabadell's profits last year was caused by moving to a new banking platform before it had been properly tested, an investigation has found.

HSBC and RBS set to launch new digital banking platforms

11 Nov 2019

LONDON British banking heavyweights HSBC and RBS are launching new digital banking platforms, as competition for digitally savvy customers steps up in the face of a wave of online startups.

StanChart bows to investor ire by cutting pension of CEO Winters

08 Nov 2019

LONDON Standard Chartered joined some of its British rivals in cutting its chief executive's pension allowance on Friday after protests from shareholders, putting pressure on other banks such as Lloyds to follow suit.

Lloyds profit slumps after PPI hit and bad loan surge

31 Oct 2019

LONDON Lloyds Banking Group came close to suffering a shock third-quarter pretax loss on Thursday after an increase in bad loans and a fresh 1.8 billion pounds provision for mis-sold loan insurance payouts.

Barclays cautions on profit targets despite third-quarter trading boost

25 Oct 2019

LONDON Britain's Barclays said a worsening global economic outlook means it may be hard to meet its profit targets, despite reporting better-than-expected results at its under-pressure investment bank in the third quarter. | Video

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