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Is HBOS In Play?
In a move which looks likely to bail out those underwriters left with billions of pounds of stock after the recent fund raising, HBOS shares have motored past the 275p fund raising price and moved on to the 310p level. There are strong rumours in the City that a consortium is being put together to launch a breakup bid and take apart one of the UKs premier financial organisations.
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Mobile banking set to be most popular form of banking
15/06/2015 Mobile banking is set to take over computer banking as the most popular way to bank, according to the British Bankers Association. Research has found that customers throughout the UK are set to check their current account a record 895 million times on their mobiles in 2015, which will beat the 705 million predicted for computers, 427 million branch visits and 64 million telephon...
Read MoreBank branch closures on the rise
The number of bank and building society branches has fallen by around 11 per cent in the past five years, according to a report by local information website Locallife.com. Closures mean that the number of branches in the UK has fallen from 11,640 five years ago to 10,423 today, a ratio of just 1.88 branches per 10,000 people. Banks are, in part, closing branches to cut costs, but a rise in popular...
Read MoreAre we set to see the end of free banking in the UK?
While the term "free banking" is something of a mystery to many in the UK, there is a suggestion it arose from the UK banking sector itself. In effect there is no such thing as "free banking" because even if you have a savings account with your bank, they will be using your deposits to bolster their own business and increase their ability to loan money. So the demise of "free banking" is something...
Read MoreMixed information regarding cheque clearance
The Banking Code Standards Board has released a damning report on the UK banking industry and cheque clearance. After carrying out a mystery shopper exercise the board revealed that more than half of UK bank staff were giving out misleading information regarding the clearance of funds transferred by cheque. The results of the survey are worse than those seen in 2008 and are causing great concerns...
Read MoreAlistair Darling asks investment banks to plan for doomsday scenario
In a bizarre exercise it is believed Alistair Darling has requested that all UK investment companies should be made to plan for their future demise. This is on the back of the Lehman Bros collapse which caused significant problems in a number of investment markets with over 1.5 million positions left open. The idea is that UK banks will be asked to draw up plans in the event of their demise which...
Read MoreNumber of customers switching current accounts improves
27/04/2015 The Payments Council has announced that they have see a 7% increase in the number of customers switching their current account over the past 12 months. They Payments Council announced that they had recorded 1.14 million switches in the year up to March 2015. The year before that there had been 1.06 million switches, so there has been an improvement. Rules intending to make the sw...
Read MoreBanks accused of scare tactics over charges
The UK's banks have been accused of trying to 'frighten' their customers into abandoning attempts to reclaim money they paid in unauthorised overdraft charges.Consumer group Which? is urging people to continue reclaiming their bank charges despite a county court ruling earlier this month which rejected the attempt of a Lloyds TSB customer to recoup £2,545 he had paid the bank for exceeding his ov...
Read MoreBuilding societies look to fill compensation gap
It has been revealed that 6 out of 10 building societies in the UK feel they will need to increase their mortgage rates and reduce savings rates to fill the gap left by their contribution to the financial services compensation scheme. This is a scheme set up by the financial regulators to ensure there is sufficient capital to compensate customers of failed UK banks although one which many feel has...
Read MoreThe history of Lloyds Bank
Lloyds Bank has a history which can be traced directly back to 1765 when button maker John Taylor and iron dealer Samson Lloyd set up a private banking operation in Birmingham. However, despite having a history which goes back to 1765 it was not until 1864 that the first branch of Lloyds Bank was opened in Oldbury. Over the years the company has acquired various banking operations around the world...
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