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Pin to quick picksLloyds Share News (LLOY)

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Share Price: 52.48
Bid: 52.48
Ask: 52.50
Change: 0.28 (0.54%)
Spread: 0.02 (0.038%)
Open: 52.00
High: 52.74
Low: 52.00
Prev. Close: 52.20
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Metro Bank founder to launch online bank Atom

Wed, 09th Apr 2014 12:22

Anthony Thomson, the founder and former Chairman of Metro Bank has unveiled plans to launch Atom, the first 'truly digital' retail and business bank. The new online bank, which is due to open in 2015, will offer both consumer and business banking. Thompson, who will take on the role of Chairman, said: "The use of branch banking has fallen off a cliff and even telephony banking is in decline. The explosive growth is in digital and particularly mobile banking."The role of Chief Operating Officer will be taken on by Mark Direct, who in March resigned as the Chief Executive of HSBC-operated online lender, First Direct. The launch comes as a number of existing banks are opting to close branches on the back of significant declines in the number of clients visiting branches. RBS recently revealed that there had been a 30% drop in the number of customers visiting its branches over the past three years, which according to sources cited by Reuters has been an industry-wide trend. Thomson himself commented that the industry has undergone a radical change since 2010.He is reportedly currently applying for a banking licence, although is said to have been in discussions with regulators for some time. He is believed to be utilising the fast-track licensing scheme operated by the Prudential Regulation Authority. Atom is believed to already have gained the support of a number of both private and institutional investors, all none has so far been identified. Thomson said there is a "significant market for a new bank", saying Atom "can deliver better service and better value digitally", according to Bloomberg. Metro, which started operating in mid-2010, was the first new UK consumer bank to open in more than 10 years. Thomson has retained a "significant" stake in the group. The UK banking industry is currently dominated by Lloyds, RBS, HSBC and Barclays. Both Tesco Bank and Virgin Money are currently building their online current accounts, while both Aldermore and Shawbrook are creating offerings directed at small to medium sized firms. NR
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5 Oct 2023 16:54

LONDON MARKET CLOSE: FTSE 100 rises but banks struggle on Metro woe

(Alliance News) - Stock prices in Europe ended mixed on Thursday, with the FTSE 100 outperforming despite some pressure on its banking shares, which suffered in a negative read-across amid worries for Metro Bank.

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22 Sep 2023 09:33

LONDON BROKER RATINGS: BoA likes Dowlais; JPMorgan cuts Phoenix Group

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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5 Sep 2023 15:48

UK dividends calendar - next 7 days

Wednesday 6 September 
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Thursday 7 September 
Admiral Group PLCex-dividend payment date
Alpha Financial Markets Consulting PLCex-dividend payment date
Anglo-Eastern Plantations PLCex-dividend payment date
Assura PLCex-dividend payment date
Athelney Trust PLCex-dividend payment date
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Pollen Street PLCex-dividend payment date
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RM Infrastructure Income PLCex-dividend payment date
Serco Group PLCex-dividend payment date
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Zotefoams PLCex-dividend payment date
Friday 8 September 
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Monday 11 September 
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Tuesday 12 September 
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1 Sep 2023 00:01

Some UK banks improving interest rates for savers, says watchdog

LONDON, Sept 1 (Reuters) - More savings accounts are offering higher interest rates as a more competitive market emerges, though regulatory intervention may still be needed to ensure customers are getting fair value, Britain's Financial Conduct Authority (FCA) said on Friday.

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18 Aug 2023 10:22

UK banking stocks are undervalued, says Shore Capital

(Sharecast News) - Shore Capital has reiterated its 'buy' ratings on six UK-listed banking stocks, saying the market is currently pricing in a "far worse outlook".

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17 Aug 2023 22:30

Britain makes access to fee-free cash machine a legal right

LONDON, Aug 17 (Reuters) - Nearly everyone in Britain will remain within three miles (4.8 km) of a cash machine that does not charge fees despite the dwindling use of notes and coins, the finance ministry said on Thursday.

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14 Aug 2023 17:18

UK watchdog kicks off 'politically-exposed persons' review

LONDON, Aug 14 (Reuters) - Britain's Financial Conduct Authority said on Monday it will ask lawmakers to report any problems they have opening or maintaining a bank account ahead of a formal investigation.

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12 Aug 2023 20:08

Daily Mail in talks with investors over potential bid for Britain's Telegraph

Aug 12 (Reuters) - The Daily Mail and General Trust has registered its interest with British bank Lloyds for a potential bid for The Telegraph, a spokesperson told Reuters on Saturday.

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10 Aug 2023 15:08

National World sizes up possible bid for Telegraph Media Group

(Alliance News) - National World PLC on Thursday said it is considering making an offer for the Telegraph Media Group, the up for sale operator of the Daily Telegraph newspaper in the UK and Spectator magazine.

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9 Aug 2023 16:16

FTSE 100 movers: Commodity stocks rise, Hiscox sinks

(Sharecast News) - Mining stocks were up across the board on Wednesday, clawing back losses after a poor showing the previous session as weak economic data from China fuelled concerns over demand.

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4 Aug 2023 08:14

TOP NEWS: WPP cuts outlook as US tech customers keep lid on spending

(Alliance News) - WPP PLC on Friday cut its yearly guidance, as the advertising company's second-quarter was hurt by weaker spend in its US technology clients.

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3 Aug 2023 19:13

UK's Hunt asks financial watchdog to urgently review 'debanking' concerns

LONDON, Aug 3 (Reuters) - British finance minister Jeremy Hunt said on Thursday he had asked the country's financial services watchdog to urgently investigate terminations of bank accounts and suggested that lenders who have broken the law should be fined.

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3 Aug 2023 18:35

Britain's banks told to give data on terminating customer accounts

LONDON, Aug 3 (Reuters) - Britain's Financial Conduct Authority said on Thursday it will ask banks and building societies for data on customer account terminations to check if they were justified or break the law.

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3 Aug 2023 12:17

LONDON MARKET MIDDAY: Pound under pressure after BoE hike

(Alliance News) - European equities went into Thursday afternoon on the back foot, extending losses suffered on Wednesday following a US credit rating cut from Fitch, while the pound struggled to make headway after the Bank of England raised rates by 25 basis points, as expected.

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31 Jul 2023 21:47

IN BRIEF: Lloyds corporate affairs chief sells GBP150,350 shares

Lloyds Banking Group PLC - Edinburgh, Scotland-based bank - Chief Corporate Affairs Officer Andrew Walton sells 333,333 shares at 45.105 pence each on Thursday last week. Total aggregate value is GBP150,350.

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