Financial

Financial

Barclays profits almost treble as overhaul nears end

Barclays boss Jes Staley said the bank is “just months away” from completing an overhaul as he unveiled a surge in annual profits.

Financial
Taxpayers now own less than 4% of Lloyds. Picture: Jane Barlow

Lloyds taxpayer stake cut below 4% after profits soar

The UK government has reduced its stake in Lloyds Banking Group to less than 4 per cent as the lender moves a step closer to full private ownership.

Financial
Lloyds is in 'renewed health after a long time in intensive care', writes Martin Flanagan. Picture: Andrew Matthews/PA Wire

Martin Flanagan: Lloyds emerges from shadow of crash

Lloyds Banking Group has emerged from its HBOS-induced nightmare, with levels of profit – at £4.24 billion – last seen before the financial crash.

Financial
Every RBS branch will get a specialist 'TechXpert'. Picture: John Devlin

RBS to spend £100,000 training up digital experts

Royal Bank of Scotland is to spend £100,000 training up almost 200 technology experts, one for each of its branches, to help customers use online and mobile banking.

Financial
The BoE, led by governor Mark Carney, has admitted to being overly pessimistic about the impact of Brexit, writes Martin Flanagan. Picture: PA Wire

Martin Flanagan: BoE tries to tell it like it is

Candour in public life is always welcome, and sometimes even useful.

Markets Economy 1
HSBC also warned that growth was under threat from Brexit and Donald Trump's presidency. Picture: Danny Lawson/PA Wire

HSBC voices fears on protectionism as profits slump

HSBC has cast a shadow over the start of the banks’ reporting season as Europe’s biggest lender unveiled a 62 per cent slump in 2016 profits, and warned of the risks of political protectionism.

Financial 1
MSPs will examine how Airdrie Savings Bank was hit by the financial crisis. Picture: Alan Watson

Holyrood to probe demise of Airdrie Savings Bank

The chief executive of ­Airdrie Savings Bank will appear before MSPs today as they examine the impact of the decision to close its doors for good.

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Analysts expect RBS to report more heavy losses. Picture: John Devlin

RBS to put brave face on multi-billion pound loss

Royal Bank of Scotland is likely to take the shine off solid progress elsewhere in the banking sector this week as it unveils further cost-cutting and losses for the ninth year running.

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Chancellor Philip Hammond has already said the Government does not expect to offload its 72 per cent stake in RBS until after 2020. Picture: John Devlin

Treasury plan to spare RBS from having to sell 300 branches

THE Treasury has put forward plans to the European Union which could spare Royal Bank of Scotland from being forced to sell off Williams & Glyn.

News 4
Adrian Grace said Amazon was a 'prime example' of success because it understands its customers. Picture: Jane Barlow

Pension firms must learn from Amazon, says Aegon boss

Aegon UK chief executive Adrian Grace has called for the pensions industry to take a leaf out of Amazon’s book and make life easier for customers.

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Cloud technology is also key to a number of new industries. Picture: John Devlin

Yvonne Dunn: Helping finance giants navigate the cloud

Cloud technology, cloud ­computing or just simply cloud, has been treated with caution by the banking sector – and for good reason.

Financial
The Ethical Finance Hub and Heriot-Watt's Centre for Finance & Investment staged the debate. Picture: Contributed

Time to take an ethical approach to investments

A debate held at Heriot-Watt’s Centre for Finance & Investment examines how such a perspective can sit with the need for profitable shareholder returns.

Financial
First Minister Nicola Sturgeon with RBS chief executive Ross McEwan. Picture: Warren Media

Fintech opportunity knocks but risks are also rising

Scotland is well-placed to be a winner from the huge technology shifts under way but the pace of change means it can’t be complacent, writes Perry Gourley.

Tech 1
Lloyds of London announced the change in an internal staff memo. Picture: Getty Images

Workers hit back at Lloyd’s over daytime drinking ban

It is an iconic image of the City of London: booze-fuelled financial workers knocking back a liquid lunch before a busy afternoon making deals on the trading floor.

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Jim Duffy says the big banks can learn a lot from fintech start-ups. Ian Howarth

Jim Duffy: Consigning the cheque book to museum relic

I’m still one of these people who proudly owns a cheque book. Although I have one, I haven’t used it for more than a year.

Tech 2
Credit Suisse is planning to cut thousands of jobs as it seeks to reduce costs. Picture: Peter Klaunzer/Keystone via AP

Credit Suisse chief plans to axe 5,500 further jobs

Banking giant Credit Suisse intends to cut more than 5,500 jobs this year as it extends its cost-cutting drive under chief executive Tidjane Thiam.

Financial 1
Bank of Scotland is owned by Lloyds Banking Group. Picture: Jane Barlow

Lloyds closing in on Berlin for EU offshoot

Lloyds Banking Group is reportedly on course to turn its Berlin branch into an EU subsidiary in order to secure its European business after Brexit.

Financial
The Co-operative Bank is putting itself up for sale as it struggles to meet capital requirements designed to ensure financial institutions can survive hard times. Picture: Alastair Grant/AP

The stretched ethical bank puts itself up for sale

Years of losses, boardroom upheaval and a takeover by bondholders and hedge funds could end in an outright sale of the group, writes Martin Flanagan.

Financial 1
The Co-op Bank is up for sale as concerns mount over its capital position. Picture: Nick Ansell/PA Wire

City sceptical as Co-operative Bank put up for sale

The board of the Co-operative Bank has hoisted a for sale sign over the troubled lender as concerns mount over its capital position.

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Royal Bank of Scotland's base at Gogarburn in Edinburgh. Picture: Greg Macvean

RBS to set up financial tech accelerator at HQ

A boost for Scotland’s burgeoning financial technology sector was announced today by Royal Bank of Scotland amid plaudits from First Minister Nicola Sturgeon and the head of the Scottish Financial Enterprise trade body.

Tech 2
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