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Banking & Finance

Near £3bn high street bank funding gap to Welsh SMEs identified by report
Banking & Finance
Fintech Allica Bank said if deployed it would have had a huge economic impact
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Klarna gears up for New York IPO revival in autumn amidst market recovery
By City AM
Klarna's US listing plans were put on hold after President Trump's 'Liberation Day' levies
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Supreme Court ruling sparks crackdown on 'bad practice' by dodgy claims firms
By City AM
The Solicitors Regulation Authority (SRA) and Financial Conduct Authority (FCA) have teamed up to issue a warning to law firms and claims management companies (CMCs)
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Nationwide smashes big banks in mass customer exodus as 'The Big Thankyou' pays off
By City AM
Nationwide was the runaway winner for current account switches in the first quarter of 2025 as the mutual's billions of pounds returned to customers in 2024 paid off.
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Chetwood Bank sees saver deposits exceed £5bn
Banking & Finance
The challenger bank is headquartered in Wrexham
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Klarna secures º£½ÇÊÓƵ banking licence to take on Monzo and Revolut
By City AM
The buy now, pay later firm has been granted regulatory approval to offer savings accounts to its 11 million º£½ÇÊÓƵ customers, with a debit card on the horizon
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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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