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Business Banking News

  • Proofreading gaffs prove pricey for organizations

    To many it is a most tedious task, but proofreading has been highlighted as an essential process in the organizational communication process, after a series of high-profile gaffs resulted in costly losses. For example, Comet, the UK electronics retailer that … Read more »

  • Strong business growth maintained across England and Wales

    The combined business activity of the English regions continued to increase strongly in September, according to new research from Lloyds Bank, with a similar pattern seen in Wales, where the rate of growth in activity reached a four-year high. While … Read more »

  • Half of finance professional lose faith in company forecasts

    UK companies need to overhaul their finance functions or suffer competitive disadvantage as the economy recovers and growth opportunities return, according to PricewaterhouseCoopers (PwC’s) latest Finance Effectiveness Benchmark study. The annual review of over 200 companies’ finance functions shows how … Read more »

  • Church of England confirms RBS branches bid

    The Church of England has confirmed that it is part of a consortium that includes the Corsair Capital investment fund and Centerbridge, which is bidding for the 314 Royal Bank of Scotland (RBS) branches currently up for sale. The confirmation … Read more »

  • Dramatic improvement in funding conditions for UK growth companies

    ECI has reported a “dramatic improvement” in funding conditions for UK growth companies – in a recent poll, the private equity firm’s key findings were as follows: • 54% said they expected it to be “easy” or “very easy” to … Read more »

  • Shawbrook exceeds £1bn in lending

    Challenger bank, Shawbrook, says it has exceeded £1 billion in lending to the UK’s small and medium-sized enterprises (SMEs) and personal customers since its launch in 2011: £766 million has been lent to SMEs and almost £369 million to individuals. … Read more »

  • UK economic growth in danger of flat-lining at 1%

    Leading economists are warning that the long-term, sustainable growth rate in the UK may be only 1% compared with the 2.5% that HM Treasury thought standard from the 1980s to the 2000s. According to the Institute for Economic Affairs (IEA), … Read more »

  • SME funding myths exploded

    A report published today by Demos has added to the heated debate over the willingness of banks to lend to small and medium-sized businesses (SMEs) and the importance of SMEs in the UK’s economic recovery. According to the think-tank, repeated … Read more »

  • Shawbrook launches wholesale division

    Specialist lender, Shawbrook Bank, says it has appointed three of the UK’s leading experts in structured finance to set up a new wholesale lending division. Kieran McSweeney, Marc Sefton and Michael Katramados all join from Royal Bank of Scotland where … Read more »

  • Business lending to bounce back in 2014

    Lending to UK businesses is expected to begin its recovery next year, having bottomed out at £422 billion in 2013 (2008: £608 billion). According to Ernst & Young’s ITEM Club, lending to firms will shoot up by 7% next year … Read more »

  • Banks publish local SME lending data

    For the first time, the British Bankers’ Association (BBA) has published figures showing SME borrowing and saving, broken down by postcode areas. The data reveals that the majority of regions are net depositors, with SMEs in London, the South East, … Read more »

  • RBS reviews SME lending

    Royal Bank of Scotland (RBS) is about to undertake a “thorough and independent” review of its lending practices for small and medium-sized businesses (SMEs). Sir Andrew Large and management consultant firm, Oliver Wyman, have been appointed to undertake the task … Read more »

  • FCA highlights risks in trade finance

    Following a review of trade finance in UK banks, the Financial Conduct Authority (FCA) found that most of the 17 banks under scrutiny failed to adequately consider money laundering and terrorist financing risk. Trade finance is internationally recognised as posing … Read more »

  • OFT seeks views on SME banking

    The Office of Fair Trading (OFT) is to undertake a market study on competition in banking for small and medium-sized businesses (SMEs). The watchdog is currently seeking views on the scope of its study, which will cover all regions of … Read more »

  • Banks improve EFG lending to SMEs

    Figures published today show that bank lending to small and medium-sized businesses (SMEs) through the Enterprise Finance Guarantee (EFG) scheme is showing improvement. The scheme provides vital funding to SMEs that lack the collateral or credit history to secure a … Read more »

  • Barclays makes oil & gas appointment

    Barclays has reaffirmed its commitment to the oil and gas sector with the appointment of Colin Couchman as a relationship director within its oil & gas team. In his new role, Mr Couchman will be responsible for the management of … Read more »

  • Scotiabank fund management in China is approved

    Scotiabank has announced that together with its joint venture partner Bank of Beijing, the Bank of Beijing Scotiabank Asset Management Co. Ltd. has been given the regulatory green light to operate as a fund management company in China. It is … Read more »

  • SMEs helped to highlight financial services issues

    The Government wants to make it easier for small and medium-sized businesses (SMEs) to highlight consumer and competition problems in the financial services sector. In a new initiative, consumer groups representing SMEs will be able to bring “super complaints” to … Read more »

  • Proofreading mistakes costly to banks, businesses

    Proofreading mistakes and spelling errors are costing British banks and businesses millions in revenue, according to internet entrepreneur, Charles Duncombe. Mr Duncombe owns a diverse potfolio of online businesses, including travel, mobile phones and clothing e-tailers. His company’s testing found … Read more »