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Banking & Finance

Santander º£½ÇÊÓƵ's strategic overhaul leads to job cuts and branch closures
By City AM
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 cent to €340m (£296m)
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Revolut mulls China launch as fintech giant faces º£½ÇÊÓƵ regulatory hell
By City AM
Revolut is considering a move into China as the fintech giant battles regulatory issues closer to home in a bid to become a fully fledged bank in the º£½ÇÊÓƵ
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Rathbones sees profit fall as it warns on first-half market turbulence
By City AM
Rathbones has reported a decline in profit over the first six months of the year, as market turbulence in the first quarter took its toll on the FTSE 250 wealth manager
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HSBC profit plunges 29% amid China business write-downs, missing market forecasts
By City AM
The FTSE 100 listed global bank saw its pre-tax profit come in at $6.3bn (£4.72bn) in the three months to May 31, down from $8.8bn a year ago and below analyst expectations of $6.99bn.
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Barclays CEO urges Rachel Reeves to reconsider bank tax hike amidst economic growth concerns
By City AM
Barclays boss CS Venkatakrishnan has warned against a bank tax hike as the Chancellor looks to maintain her fiscal headroom
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Development Bank of Wales reveals two new board members
Deals
Leading º£½ÇÊÓƵ finance specialists Annie Ropar and Paul Oldham have been appointed to the board of the Development Bank of Wales.
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What is the average house price in Wales
Housing
New quarterly figures from the Principality Building Society shows the average house price in Wales is up on a year earlier but down on the Q1
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NatWest upgrades guidance and announces £750m share buyback
By City AM
The bank has announced a 9.5p interim dividend and a £750m share buyback following "a strong H1 2025 performance" in first results since the bank returned to full private ownership.
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Lloyds Bank reports strong growth in first half of year as º£½ÇÊÓƵ economic conditions improve
By City AM
The FTSE 100-listed bank saw a 4 per cent year-on-year increase in statutory profit after tax to £2.5bn, with underlying profit of £3.6bn
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Natwest inks five-year cloud and AI deal with AWS and Accenture
By City AM
The bank has not disclosed the cost of the programme, but said the aim is to make its 20m customer relationships more responsive and data-driven.
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Business lender Shawbrook plots £2bn London IPO in vote of confidence for market
By City AM
Shawbrook, which is controlled by private equity firms BC Partners and Pollen Street Capital, is targeting a valuation of up to £2bn
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Natwest and Lloyds set to reveal earnings: What to expect amidst economic shifts
By City AM
Lloyds and Natwest will kick off earnings on July 24 and July 25 followed by peers Barclays, HSBC and Standard Chartered the following week
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Starling Bank considers US listing in blow to Rachel Reeves' fintech plans
By City AM
The company's finance chief has said the firm is open to a listing on the US stock market
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Ultimate Finance reports 'record' first half and moves into larger offices
Finance
The asset-based lender is seeing an increase in demand for its services
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Bank of England rate cut 'almost certain' after poor economic growth
By City AM
The Bank of England is "almost certain" to cut interest rates next month after the economy slumped for a second month in a row, according to economists.
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Future of º£½ÇÊÓƵ banking: Which specialist lenders are likely takeover targets?
By City AM
The º£½ÇÊÓƵ banking sector has seen a flurry of mergers and acquisitions in recent years, with the latest a landmark deal between Santander and TSB Bank
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Call for new º£½ÇÊÓƵ 'investment hub' to prevent financial services from losing global position
By City AM
A new report warns that the º£½ÇÊÓƵ risks losing its status as a leading financial centre unless it acts quickly to modernise and streamline investment services
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Jupiter snaps up º£½ÇÊÓƵ's largest investment manager for non-profits in £100m swoop
By City AM
The FTSE 250 fund manager said the deal to buy CCLA will deliver at least £16m in annual recurring cost savings as it seeks to streamline support functions and incorporate CCLA's technology to reduce duplication in systems.
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Close Brothers announces strategic shift in lending, prioritising commercial insurance over personal lines
By City AM
The lender said it would start to focus on insurance products designed for businesses, which the firm said offered better risk-adjusted returns and long-term growth potential
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The latest acquisition and equity investment deals in Wales
Banking & Finance
Firms featured include Amotio, Draig Therapeutics, Ceryx Medical, Pink Storage and B Fit Group.
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Revolut launches stocks and shares ISAs, partners with top fund managers for º£½ÇÊÓƵ customers
By City AM
The digital banking giant has expanded its investment offering into stocks and shares ISAs for º£½ÇÊÓƵ customers
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Monzo fined £21m by City watchdog for 'repeatedly' failing in crime control
By City AM
The Financial Conduct Authority (FCA) said Monzo failed to keep pace with the growth in its customer and product base, and onboarded thousands of high risk customers
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Financial services firms expect rapid rise in job losses amid waning optimism
By City AM
The financial services sector is facing a rapid rise in job losses as investment plans and optimism levels sink to fresh lows, according to the Confederation of British Industry (CBI)
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Lloyds boss warns Labour's pension funds deal risks making º£½ÇÊÓƵ more like China
By City AM
Chancellor Rachel Reeves secured the support of 17 pension funds ahead of the Mansion House speech, which is expected to feature reforms to pensions and investment
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