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The Latest Breaking News on Financial Services

Private sector growth quickening as year goes on, report suggests

The growth of new business also accelerated during the month, according to the Bank of Scotland’s latest Purchasing Managers’ Index (PMI)

The Independent UK

South West sees ‘disappointing’ drop in business activity, NatWest reports

A survey by the bank found that despite a drop in new business, firms in the region were ‘upbeat’ about the year ahead

Birmingham Post

Sustained expansion across services supports Scottish private sector growth

Latest RBS research finds accelerated growth in new business, while cost burdens rise at the softest pace in 25 months

Insider UK

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Jeremy Hunt reveals he was refused Monzo bank account

Chancellor says barriers to careers in public life must be removed after being refused account ‘as a politically exposed person’

The Guardian - UK

Natwest branches closing across Greater Manchester

One of the closures left a town without a bank.

Manchester Evening News

The full list of banks in Wales closing in 2023 and 2024

Dozens of banks across Wales are closing in the next 18 months

Wales Online

Man with a mission

Household debt should be a national agenda item and legal support is required to manage the problem comprehensively, says Piti Tantakasem, chief executive of TMBThanachart Bank (ttb), in an exclusive interview with the Bangkok Post.

Bangkok Post

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SCB X says virtual bank will meet BoT's requirements

SCB X, the financial technology conglomerate and holding company of Siam Commercial Bank (SCB), believes its planned virtual bank will comply with the central bank's requirements amid competition for the new banking licence.

Bangkok Post

Greater and Perm's $20bn merger carrot scrapped

Newcastle Greater Mutual Group's new cloud-based banking system plan ditched.

Newcastle Herald

Digested week: Farage is off the Coutts books and Orkney’s off altogether

Plus, the delights of the Deliveroo dinner party and dealing with the carnage of an SAS-style plumbing refit

The Guardian - UK

Four Reasons Credit Unions Are a Good Bet in Unsettled Times

Credit unions’ member-focused benefits, lower rates and fees and more can help you strengthen your financial future.

Kiplinger

After years of ups and downs, LA moves forward on creation of a public bank

Los Angeles is taking another step toward opening a city-owned public bank that would support projects driven by public interest.

Los Angeles Times

China-based development bank rejects claims of CCP control

Asian Infrastructure Investment Bank says internal review shows lender follows ‘highest standards’ of governance.

Al Jazeera

Big bank won't leave bush bare by lopping more branches

Commonwealth Bank has committed to no regional closures until 2026, but has flagged more "multi-channel" branches with reduced in-person banking hours.

AAP

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Bangkok Post

SET stumbles on domestic, external risks

Concerns over rising global interest rates and domestic political uncertainties dragged down the Thai bourse to below 1,500 points again on Thursday, say analysts.

Liverpool Echo

Natwest and RBS closing 36 more branches including one in Merseyside

The banking giant said "closing a branch is a decision we take very seriously"

The Guardian - UK

UK banks urged to ‘accelerate’ savings rates by financial regulator

FCA tells NatWest, Lloyds, HSBC and Barclays to act more quickly to support consumers after profiteering claims

Manchester Evening News

Town completely abandoned by banks could be handed a lifeline

Six years ago, Radcliffe - which has a population of around 30,000 - had three banks and a building society... now there are none

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Birmingham Post

Big Interview: British Business Bank launches South West Investment Fund

BusinessLive spoke with chief executive Louis Taylor about how this will work across the different counties of the South West

Bangkok Post

SEC pushes for regional green finance

The Securities and Exchange Commission (SEC) is working with other Southeast Asian countries to develop green financial products, including sustainability-linked bonds and "Asean Transition" guidelines regarding taxes, according to the Thai regulator.

Bangkok Post

Thai Credit banks $105m IFC loan

International Finance Corp (IFC), a unit of the World Bank Group, is providing a US$105-million loan to Thai Credit Retail Bank Plc (Thai Credit) to support female entrepreneurs in Thailand.

Bangkok Post

BoT considers rate cuts amid debt crisis

The Bank of Thailand is mulling cutting interest rates to help people struggling with debt to exit from a pernicious cycle, says a central bank executive.

Daily Record

RBS and Natwest announce closure of 36 branches across UK - check the full list

NatWest will close 34 additional branches between September 2023 and July 2024, with their sister bank, RBS, shutting down two more branches by November this year.

The Guardian - UK

Stubborn UK inflation may lead to 7% interest rates, economists warn

JP Morgan says risk of ‘hard landing’ for economy heightened, with higher borrowing costs hitting business

Nottingham Post

Natwest and RBS announce 36 branches to close - full list

Move means many communities will lose their access to high street banking

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