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Virgin pull out of Co-op Bank sale

Virgin pull out of Co-op Bank sale

Virgin Money has become the latest potential buyer to pull out of the Co-operative Bank sale.

The Richard Branson backed lender has followed Banco Sabadell, Santander and TSB in quitting the auction sale of the Manchester based bank.Read More


Lloyds sale makes £894 million profit

Lloyds sale makes £894 million profit

Lloyds Bank has finally been re-privatised and the sale of the last few shares made them an £894 million profit on the deal.

The government sold its last block of taxpayer-owned shares nine years after Lloyds Banking Group (LBG) was bailed out with £20.3 billion for a 43.4% stake in the bank.Read More


CHARITY OF THE MONTH – Target Ovarian Cancer

Lynne Cliffe (left) accepts the £400 donation on behalf of the charity from Hayley McAteer

Our charity of the month for April was Target Ovarian Cancer, nominated by Hayley McAteer in memory of her friend Kerry Vincent wo died of the disease in March last year, aged just 27.

Kerry became engaged to her fiancé Adam in April 2015, three months before being given her cancer diagnosis after being rushed into hospital on return from a holiday in Malta.Read More


CYBG add another £150 million for PPI

CYBG add another £150 million for PPI

CYBG – the former Clydesdale Yorkshire Bank – has added a further £150 million to its PPI compensation provision, but has warned that it may not be enough to cover the final bill.

The bank was created when its parent company – National Australia Bank (NAB) – decided to divest itself of its UK business.  However, as part of the deal there is an indemnity clause which means CYBG will only be responsible for 9.7% of the increase. The rest will be paid by NAB.Read More


M&S PPI bill up by 35%

M&S PPI bill up by 35%

Marks & Spencer’s bill for the mis-selling of PPI rose by 35% in 2016 to £400 million, it has been revealed.

The bank set aside £128 million to pay out successful PPI claims, which was a marked rise on the £83 million of the previous year.Read More


Government to sell another £3 billion of B&B loans

Government to sell another £3 billion of B&B loans

The government is lining up the sale of another £3 billion worth of Bradford & Bingley loans after selling off a massive £11.8 billion worth in April.

The sale is the latest step in the government’s plan to recoup as much money as possible from the bail-outs they were forced into at the height of the financial crisis.Read More


FCA sees record number of complaints

FCA sees record number of complaints

Britain’s financial watchdog has reported a record 3.04 million complaints in the second half of 2016.

Claims for mis-sold PPI were still the largest group, accounting for 29% of the overall total.Read More


Lloyds confirms £350 million extra for PPI

Lloyds confirms £350 million extra for PPI

Lloyds Banking Group (LBG) has confirmed it has added another £350 million to its PPI compensation pot when it announced its 2017 first quarter performance figures.

In its review of its financial performance, the bank says the increase was ordered after the Financial Conduct Authority (FCA) pushed back the PPI deadline date to August 29th 2019.Read More


Another £32 million for Santander PPI

Another £32 million for Santander PPI

Santander has become the first of Britain’s high street banks to announce its first quarter financial results and has included an additional £32 million set aside for PPI claims.

The Spanish owned bank reported a 14% increase in profits over the same period last year at €1.87 billion (£1.59 billion).Read More


RBS could be sold at a loss – Hammond

RBS could be sold at a loss – Hammond

Chancellor Philip Hammond has admitted that the government could face a multi-billion pound loss by selling off its 73% stake in the Royal Bank Of Scotland (RBS).

Mr Hammond has told MPs that ‘we have to live in the real world’ in returning the taxpayer-owned bank to private ownership.Read More



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