Banking And Finance NEWS

UK credit card debt up 9.7%

The amount owed on UK credit cards increased last year as household finances came under pressure from high inflation. Outstanding balances on credit card accounts grew by 9.7% in the 12 months to … Continue reading “UK credit card debt up 9.7%”


Ozan Electronic Money in 2023: A Year of Innovative Growth

Ozan Elektronik Para (Ozan Electronic Money), one of Türkiye’s leading fintechs, has achieved remarkable expansion for the second year straight. The company reported a 5.5 times growth at Ozan SuperApp and a 2.5 … Continue reading “Ozan Electronic Money in 2023: A Year of Innovative Growth”


Efforts to tackle sexism in City moving at ‘snail’s pace’

A new report by MPs has uncovered a “shocking” prevalence of sexual harassment and bullying in London’s financial district. The culture in the City is “holding women back” in their careers, the Treasury … Continue reading “Efforts to tackle sexism in City moving at ‘snail’s pace’”


Nationwide agrees acquisition of Virgin Money

Nationwide Building Society has agreed terms of a possible acquisition of Virgin Money UK plc. Under the preliminary agreement Nationwide will pay 220p in cash per Virgin Money share, representing a premium of … Continue reading “Nationwide agrees acquisition of Virgin Money”


Lending to UK firms set to remain weak this year

Continued high interest rates are expected to limit banks’ lending to businesses in 2024, before a rebound in 2025. Economic forecasting group the EY ITEM Club said on Monday that it expects bank-to-business … Continue reading “Lending to UK firms set to remain weak this year”


HSBC fined £57m over deposit protection

HSBC has been fined £57.4m for failing to protect customer deposits. The Bank of England’s Prudential Regulation Authority (PRA) ruled that between 2015 and 2022 the bank had failed to accurately identify deposits … Continue reading “HSBC fined £57m over deposit protection”


Metro Bank to review seven-day opening

Metro Bank will review its opening hours and cut 20% of its workforce as part of a wide-ranging cost reduction plan. Since its launch in 2010, the challenger bank has offered extended opening … Continue reading “Metro Bank to review seven-day opening”


High-street banks in ‘red’ warning category over green policies

Some of the UK’s biggest high-street banks have been put in a “red” warning category based on their fossil fuel investments and policies on tackling climate change. Consumer group Which? examined the environmental … Continue reading “High-street banks in ‘red’ warning category over green policies”


Average five-year mortgage rate falls below 6%

The average rate on a five-year fixed mortgage has dropped below 6% for the first time in nearly three months. Financial information service Moneyfacts said that as of Thursday, the typical rate stood … Continue reading “Average five-year mortgage rate falls below 6%”


Ultimate Traders Grants Funded Trading Accounts of up to $400,000

Ultimate Traders is a prop firm giving traders the opportunity to work with funded trading accounts, ranging from $10,000 to $400,000. Rather than go the usual route of depositing funds directly into a … Continue reading “Ultimate Traders Grants Funded Trading Accounts of up to $400,000”


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