{
}
The gender pay gap at Lloyds Banking Group and Nationwide widened last year, with Lloyds' median gap rising to 35.5% and Nationwide's to 29.2%. Despite a record low overall UK pay gap of 8.4%, men still out-earn women at 78% of large employers, highlighting ongoing disparities in the financial sector.
Metro Bank's plan to open three new branches in Gateshead, Chester, and Salford contrasts sharply with the impending closure of hundreds of UK bank branches in 2025, driven by a shift towards online banking. Major banks like Santander and NatWest are reducing their physical presence, impacting communities, especially in rural areas where access to digital services is limited. While some banks, like Nationwide, commit to maintaining branches, the overall trend raises concerns about accessibility to essential banking services for vulnerable populations.
Nationwide Building Society plans to issue covered bonds maturing in March 2032, with UBS AG London Branch serving as the Stabilising Manager. The stabilization period will start today and last until April 22, 2025, although stabilization activities are not guaranteed. The bonds will target professional investors in the UK and qualified investors in the EEA, and will not be registered under the US Securities Act of 1933.
Nationwide Building Society plans to issue covered bonds maturing in March 2032, with UBS AG London Branch as the stabilization manager. The stabilization period will begin today and may last until April 22, 2025, although details on the total nominal amount and offering price are still pending. The bonds will target professional investors and high net worth individuals in the UK and EEA, and will not be registered under the U.S. Securities Act of 1933.
Barclays has announced significant cuts to its mortgage rates, now offering the lowest five-year fixed rate at 3.96% for its Green Home mortgage, effective March 4. This move follows similar reductions by other lenders, including Nationwide and HSBC, in response to the Bank of England's base rate decrease to 4.5%. Borrowers are advised to evaluate the full terms of any mortgage deal before committing.
The Treasury Committee has requested information from nine banks and building societies, including Barclays, regarding IT failures over the past two years, following a significant outage that left customers unable to access services for up to three days. The Committee seeks details on the frequency and duration of these outages, the number of affected customers, compensation paid, and the reasons behind each incident. Chair Dame Meg Hillier emphasized the critical impact of such failures, particularly during peak times, and the need for accountability and improvement in banking services.
UK house prices experienced their largest increase since March 2022, rising by 1.2% to an average of £268,144 in November, as reported by Nationwide Building Society. This surge is attributed to a robust jobs market and rising wages, with prices now 3.7% higher than a year ago, surpassing economists' expectations of a 0.2% increase.
Clifford Abrahams has been appointed Chief Financial Officer of IG Group Holdings PLC, effective December 16, 2024. He transitions from his role at Virgin Money UK, which is currently being acquired by Nationwide Building Society. Abrahams brings extensive financial expertise from previous positions at ABN Amro Bank NV, Delta Lloyd Group, Aviva, and Morgan Stanley, and will focus on enhancing IG Group's financial strategies amid its global growth and digital trading expansion. Gergely Zaborszky will succeed him at Virgin Money.
UK house prices saw a minimal increase of just 0.1% in October, reaching an average of £265,738, according to Nationwide Building Society. This rise was below the expected 0.3% and follows a 0.6% increase in September, indicating a slowdown in the property market ahead of the recent budget announcement. Year-on-year, prices are up 2.4%, but remain below the peak levels recorded in summer 2022.
IG Group has appointed Clifford Abrahams as Chief Financial Officer, effective December 16, following his departure from Virgin Money UK, which was recently acquired by Nationwide Building Society for approximately £2.9 billion. Abrahams has served as CFO of Virgin Money since 2021 and previously held similar roles at ABN Amro Bank and Delta Lloyd Group. Gergely Zaborszky will succeed him at Virgin Money, currently overseeing financial planning and capital management.
Nationwide Building Society
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
gender pay gap widens at major uk banks despite overall improvements
British Pound Sterling
Revolution Medicines, Inc.
Barclays PLC
Lloyds Banking Group plc
Banco Santander, S.A.
Nationwide Building Society
NatWest Group plc
GBR
Anne Boden
Rachel Reeves
Yasmine Chinwala
Debbie Crosbie
Alison Rose
Show more
19:13 04.04.2025
uk banking landscape faces branch closures while some expand services
British Pound Sterling
Barclays PLC
Metro Bank PLC
The Royal Bank of Scotland N.V. Issuer Callable Fixed To Floating Fully Principally Protected Note AATIFXX
Banco Santander, S.A.
NatWest Group plc
Nationwide Building Society
Halifax Intl Gr C
GBR
Stuart Hall
Jess Asato
Sam Richardson
Show more
10:04 21.03.2025
nationwide building society plans covered bond offer with ubS as stabilizer
10:34 17.03.2025
nationwide building society plans seven year covered bond issue with ubs
10:24 17.03.2025
barclays leads mortgage rate cuts with lowest five year fixed deal
British Pound Sterling
Nationwide Building Society
GBR
Rachel Reeves
Sian Mcintyre
Rachel Springall
Show more
12:57 03.03.2025
Treasury Committee demands answers from banks after Barclays IT failure
British Pound Sterling
Nationwide Building Society
Banco Santander, S.A.
NatWest Group plc
Lloyds Banking Group plc
Barclays PLC
GBR
Meg Hillier
Show more
12:24 10.02.2025
UK house prices see largest increase since March 2022 according to Nationwide
08:11 02.12.2024
Clifford Abrahams appointed CFO of IG Group effective December 2024
British Pound Sterling
IG Group Holdings plc
ABN AMRO Bank N.V.
Virgin Money UK PLC
Delta Lloyd Group
Nationwide Building Society
NLD
GBR
Clifford Abrahams
Gergely Zaborszky
Show more
10:13 01.11.2024
UK house prices show minimal growth ahead of budget announcement
08:11 01.11.2024
ig group appoints clifford abrahams as new chief financial officer
British Pound Sterling
IG Group Holdings plc
ABN AMRO Bank N.V.
Delta Lloyd Group
Virgin Money UK plc
Nationwide Building Society
GBR
Clifford Abrahams
Gergely Zaborszky
Show more
12:14 30.10.2024
Trending
Subcategory
Corporate News
Industry Trends
Startups & Entrepreneurship
Retail and Consumer Goods
Supply Chain Management
Global Trade Developments
Industry Mergers & Acquisitions
Stock Market Updates
Government Economic Policies
Energy Sector Developments
AI Applications
Private Equity Deals
Funding Rounds & Investments
Fintech Startups
CEO Changes
AI Innovations
Emerging Startups
Workplace Trends
Global Financial Events
Central Bank Actions
Countries:
Companies:
Apple Inc.
Google Inc.
Tesla, Inc.
Amazon.com, Inc.
Microsoft Corporation
Tesmec S.p.A.
Alphabet Inc.
OpenAI ERC USD
Walmart Inc.
SWIGGY LIMITED
NVIDIA Corporation
Foxconn Technology Co., Ltd.
Hollywood Bowl Group PLC
NASDAQ Composite
Wise plc
Mastercard Inc
Mistral 1
TENCENT
Fast Retailing Co., Ltd.
Nippon Steel Corp
Currencies:
United States Dollar
Indian Rupee
Chinese Yuan
Euro
British Pound Sterling
Japanese Yen
United Arab Emirates Dirham
Vietnamese Đồng
New Zealand Dollar
Saudi Riyal
Thai Baht
Australian Dollar
Indonesian Rupiah
South Korean Won
Singapore Dollar
Omani Rial
Bahraini Dinar
Qatari Riyal
Algerian Dinar
Egyptian Pound
People: