The Cooperative Bank is hoping to make steps towards digging itself out of a deep hole by recruiting Niall Booker as its new chief executive. Niall Booker was chief executive of HSBC‘s North American arm of the business but was axed in 2011 as part of the banks restructuring measures. He is expected to join…

The Co-operative Bank has had its credit rating downgraded by credit ratings agency Moody’s. Moody’s warned that the bank could need external support after it reported that is made losses of £600million during March. The bank is also reeling from a failed deal with Lloyds TSB who was going to sell 632 branches to them.…

The Bank of England has shown that it is considering something that, previously, would have been thought utterly ludicrous, as the deputy governor for financial stability, Paul Tucker, suggested that the Bank might consider setting the base interest rate in the negatives. The reasoning behind it is that, with a negative interest rate, lenders would…

The amount that the Royal Bank of Scotland (RBS) will have to pay out in fines due to the bank’s role in the Libor rigging scandal has finally been revealed, and it stands at a massive £390million. This is a big jump from the £290million that Barclays was required to pay, and shows that the…

Despite rumours emerging that RBS was about to settle its Libor rigging fines, it looks like the negotiations with the Financial Services Authority (FSA) will continue for a while yet, and concrete figures still haven’t emerged. Whereas the highest estimates tend to be around £350million (and some people estimate it could even reach £400million), it…

In what has been viewed as a major part of the rescue of the Spanish economy, Europe finally handed over the money to bail out Spain’s ailing banks, giving out billions of euros in exchange for a sweeping series of cuts and restructuring throughout the banks’ businesses. The bank that’s been grabbing most headlines due…

Nationwide has stuck its neck out today by launching an interest-earning current account, the first time that the bank has changed the line up of products it offers in over twenty-five years. This just goes to demonstrate the changes that are being felt throughout the banking industry and the struggle traditional providers are having to…

The chairman of the Independent Commission on Banking has said that he will not back down from breaking up the banks if the current proposition to ring fence their retail and investment sections does not appear to work. The biggest banks in Britain operate on two different platforms. The first is their retail sector, which…