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Santander UK successfully dismissed a lawsuit claiming banks have a duty to recover funds lost to push payment fraud. The High Court ruled that banks are not obligated to take action on behalf of non-customers, highlighting the potential burden this would place on financial institutions. The case stemmed from a £415,000 fraud involving CCP Graduate School, which had previously seen its lawsuit against Natwest also dismissed.
The UK Government's stake in NatWest has now fallen below 4%. This marks a significant reduction in government ownership of the bank, reflecting ongoing changes in its financial strategy and market position.
The Bank of England has launched the 2025 Bank Capital Stress Test for the top seven UK banks and building societies, assessing their resilience against severe economic downturns, including a 5% fall in UK GDP and a peak Bank Rate of 8%. This test, which replaces the Annual Cyclical Scenario, will inform capital buffer settings and financial system risks, with results expected in Q4 2025. The exercise is part of a biennial stress-testing approach and aims to ensure banks can withstand significant financial shocks.
Santander is set to cut opening hours by half at 36 high street branches, reducing operations to three days a week as part of a restructuring plan that includes closing 95 branches and converting 18 to counter-free service desks. The changes, effective from June 30, are attributed to shifting customer behavior and a rise in digital transactions. Customers can still access banking services through Post Office branches, mobile banking services, and new super ATMs being rolled out across the UK.
Lloyds' share price has surged 47% from its 12-month low, yet concerns about its valuation persist, with a price-to-earnings ratio of 10.8 compared to competitors' average of 8.9. Despite a projected 13% annual earnings growth through 2027, the bank's underlying profit fell 19% in 2024, raising questions about its future performance and dividend appeal.
The Bank of England has initiated the 2025 Bank Capital Stress Test, involving seven major banks that account for 75% of UK lending, to evaluate their resilience against severe economic downturns, including a 28% drop in property prices. This test, which replaces the Annual Cyclical Scenario, will assess the impact of simultaneous recessions, asset price declines, and increased misconduct costs. Results will inform capital buffer requirements and enhance risk management strategies within the banking sector, with findings expected later this year.
Customers of Halifax, NatWest, Lloyds, and Barclays are facing branch closures in April, with Halifax closing eight branches, NatWest five, Lloyds two, and Bank of Scotland two. Since 2015, over 6,293 UK bank branches have shut down, with NatWest Group and Lloyds Banking Group leading in closures. Starting January 2025, customers of Lloyds, Halifax, and Bank of Scotland will be able to use any of their branches for regular transactions.
The Bank of England has initiated its 2025 bank capital stress test for the UK's seven largest banks and building societies, assessing their ability to withstand severe economic shocks. Results will be released in Q4 2025, evaluating resilience against deep recessions, asset price declines, and increased misconduct costs. The participating institutions, including Barclays and HSBC, account for 75% of lending to the real economy.
A warning has been issued to customers of Halifax, NatWest, Barclays, and Lloyds due to significant branch closures, with over 6,293 branches shut since January 2015. NatWest Group leads with 1,431 closures, followed by Lloyds Banking Group with 1,321 and Barclays with 1,236. Customers are advised to consider switching banks or using nearby post offices for banking needs.
Barclays leads UK bank branch closures with 1,236 sites shut, followed by NatWest (904) and Lloyds (821). In April 2025, 18 branches, including those of Halifax and NatWest, will close, contributing to a total of 88 closures in the first quarter. Since 2015, over 6,293 branches have closed, with 282 more planned for 2025, as online banking usage rises.
NatWest Group plc
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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