Banking And Finance NEWS

Bank of England’s Monetary Policy Committee votes to keeps UK Bank Rate at record low of 0.5%

Britain’s central bank, the Bank of England, announced on Thursday that its Monetary Policy Committee (MPC) has declared that the Bank Rate will be kept at a record low of 0.5% and will … Continue reading “Bank of England’s Monetary Policy Committee votes to keeps UK Bank Rate at record low of 0.5%”


UK government to sell remaining 12% stake in Lloyds

HM Treasury revealed on Monday that the UK government plans to divest the rest of its stake in Lloyds Banking Group, with the launch of a retail sale of Lloyds shares in spring … Continue reading “UK government to sell remaining 12% stake in Lloyds”


FCA plans deadline for PPI complaints

The Financial Conduct Authority (FCA), which is responsible for the conduct supervision of all UK regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA), announced on Friday … Continue reading “FCA plans deadline for PPI complaints”


Bank of England’s Monetary Policy Committee votes to keep Bank Rate at 0.5%

UK central bank the Bank of England announced on Thursday that its Monetary Policy Committee (MPC) meeting, held on 9 September 2015, the committee voted by a majority of 8-1 to maintain the Bank Rate … Continue reading “Bank of England’s Monetary Policy Committee votes to keep Bank Rate at 0.5%”


Financial Ombudsman Service reveals 8% increase in complaints relating to UK financial service providers

The UK’s Financial Ombudsman Service has published its latest figures on complaints about banks, insurers and other financial businesses over first half of 2015, which show an overall increase of 8% on the previous … Continue reading “Financial Ombudsman Service reveals 8% increase in complaints relating to UK financial service providers”


Legacy issues continue to challenge Co-operative Bank ‘s recovery

Retail banking company the Co-operative Bank, which almost collapsed in 2013 following the discovery of a black hole in its accounts, has revealed that it does not expect to make a profit for … Continue reading “Legacy issues continue to challenge Co-operative Bank ‘s recovery”


Remortgaging activity jumps 22% in June

Mortgage lending in the UK was 22% higher in June, with remortgage activity rising by over a third month-on-month and year-on-year, the Council of Mortgage Lenders (CML) revealed on Tuesday. The rise in remortgage activity … Continue reading “Remortgaging activity jumps 22% in June”


UK Government sells off RBS shares for £2.1 billion

The UK government has commenced the sale of its shares in majority state-owned retail bank, the Royal Bank of Scotland (RBS), which was bailed out by the government during the financial crisis in … Continue reading “UK Government sells off RBS shares for £2.1 billion”


Lloyds profits increases to £1.2 billion while PPI compensation costs rise by £1.4 billion

Lloyds Banking Group has set aside a further £1.4bn to cover compensation claims by customers who were mis-sold payment protection insurance (PPI), but has declared a 38% rise in half year profits to … Continue reading “Lloyds profits increases to £1.2 billion while PPI compensation costs rise by £1.4 billion”


Co-operative Group suffers heavy losses of £2.5bn in 2013

The Co-operative Group, a British consumer cooperative that operates a range of retail businesses, announced its final results for the 52 weeks ended 4 January 2014 on Thursday, which showed losses of GBP2.5bn … Continue reading “Co-operative Group suffers heavy losses of £2.5bn in 2013”


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