Royal Bank of Scotland issues customer charter
In a bid to try and regain the trust of the UK public Royal Bank of Scotland has today issued a 14 point customer charter. While the charter contains a number of relevant and interesting points it is the promise that where Royal Bank of Scotland is the "last bank in town" it will ensure that the operation remains open thereby ensuring banking facilities for people in the area.
Amongst the other pledges issued today is a promise are at least 200 branches will open earlier through the week and close later on weekends with more branches set to open on Saturdays. Custom waiting times will also be addressed within branches, as well as annual reviews for customers, an early warning system for customers facing financial difficulties and more focus on customer services and customer requirements.
This would appear to be stage one of a fightback by the UK banking industry after a period when the sector has been tarred as the "devil incarnate" but as we have seen before, the proof is in the pudding. It will take some time to regain the trust of customers in the UK who never for a second believed that the UK banking system could ever have been on the verge of collapse.
UK banking sector continues to grow
A survey by the Confederation of British Industry and PricewaterhouseCoopers has confirmed that the UK financial sector continues to improve with profitability increasing for the fifth quarter in a row. However, despite the fact that the growth figure was the fastest quarterly increase since June 2007 it would appear to have fallen short of forecasts from analysts. So what does this mean for the f...Read More
EU approves changes at Lloyds bank
The European Union Commission has today approved the UK government state aid invested into Lloyds bank which will be rubberstamped in exchange for an agreement that 600 Lloyds branches will be sold off. This now leaves the way open for the £21.5 billion refinancing which Lloyds bank announced some days ago and which had been subject to speculation regarding potential EU approval. So what next?
'Robin Hood' banker goes to jail
A "Robin Hood" bank worker diverted £7 million of his corporate clients' money to help out other businesses who were struggling financially, it has emerged.Benedict Hancock, 39, was sentenced to 18 months in jail at Blackfriars Crown Court for his false accounting.The court also heard that the majority of clients who had money transferred away from their accounts did not notice that it was missin...Read More
Is Santander the bright light of the UK banking sector?
Santander, the Spanish financial conglomerate, has today issued a statement confirming the creation of 600 jobs in its UK division with plans afoot to significantly grow the UK operation. This comes only hours after the company confirmed it was in final talks to acquire the 300+ Royal Bank of Scotland branches which the company was forced to put up for sale by the European Union. At a time when...Read More
Virgin Money in rumoured bank expansion
Richard Branson is rumoured to be on the lookout for "a small UK bank" which he can bring into his Virgin Money operation and expand his banking services. The company has confirmed it is exploring "a number of strategic options" although the strongest rumours in the market currently relate to Virgin Money acquiring the "good bank" of Northern Rock. Those who have followed the story will be well...Read More