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City

Record mortgage lending helps TSB swing back to profit

High street bank TSB has revealed it returned to profit in 2021 thanks to record mortgage lending and a bounceback in the wider economy. The Spanish-owned lender posted annual pre-tax profits of £157.5 million against losses of £204.6 million in ...

27 Jan 2022 at 09:55

City

Co-op Bank bolstered by higher interest rates as it hails turnaround progress

The Co-operative Bank has surpassed £100 million in profits after its turnaround plans gathered steam and higher mortgage rates boosted its margins. The once-flailing bank reported its seventh consecutive quarter of profits after being rescued ...

10 Nov 2022 at 14:20

Personal Finance

Current account switching picks up pace in July before interest rates cut

More than 100,000 current account switches took place in July as people locked into better savings deals before the Bank of England cut interest rates, new data has shown. However, the total number of switches slowed between July and ...

31 Oct 2024 at 00:01

City

Co-operative Bank plans to slash around 400 roles in cost-cutting drive

The Co-operative Bank has said it plans to cut around one in 10 of its workforce, shedding approximately 400 jobs, in a bid to cut costs. The bank said that it was embarking on a consultation and restructure which will lead to a net ...

26 Mar 2024 at 20:15

Personal Finance

Which? urges banks to address online security ‘loopholes’

Some banks need to urgently address potential loopholes in their online security arrangements which could leave people vulnerable to scammers, according to Which?. The consumer group assessed the apps and websites of 13 current ...

24 Apr 2024 at 00:01

City

Co-op Bank transformation ‘materially complete’ ahead of merger deal

The Co-operative Bank has said its transformation plan is “materially complete” ahead of its agreed merger with Coventry Building Society. The banking firm said discussions over the deal, which will see the building society ...

02 May 2024 at 08:00

City

Vodafone completes £6.6bn deal to offload Italian arm

Vodafone has completed the eight billion euro (£6.6 billion) sale of its Italian business to Switzerland’s Swisscom as a flurry of deals are sewn up for the start of the new year. The mobile phone giant – which last month ...

02 Jan 2025 at 09:14

City

TSB swings to back to profit but warns over inflation hit to borrowers

High street bank TSB has revealed that record mortgage lending helped it returned to profit in 2021, but warned over pressure on households and businesses from soaring inflation. The Spanish-owned lender posted annual ...

27 Jan 2022 at 14:55

City

TSB swings to back to profit, but cautions over inflation hit to borrowers

High street bank TSB has revealed record mortgage lending helped it returned to profit in 2021, but warned over pressure on households and businesses from soaring inflation. The Spanish-owned lender posted annual ...

27 Jan 2022 at 11:55

Co-op Bank apologises after payments taken twice from business accounts

City

Co-op Bank apologises after payments appear to be taken twice from some accounts

The Co-operative Bank has apologised after customers said a glitch had taken payments twice from some small business account holders. One person on X, formerly Twitter, complained that they are “almost £5k down ...

12 Jun 2024 at 15:18

Ex-bank chairman to be sentenced for fraud after handing himself in

Disgraced former Co-operative Bank chairman Paul Flowers will be sentenced for fraud after he handed himself in to the police following a warrant for his arrest. In July last year, Flowers, 74, pleaded guilty ...

26 Feb 2025 at 19:23

Former Co-op Bank boss jailed for three years over £100,000 fraud

Former Co-operative Bank chairman Paul Flowers – who stole nearly £100,000 from an elderly spinster to spend on drugs, holidays and gifts for himself – has been jailed for three years. Flowers, 74, had ...

27 Feb 2025 at 14:33

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