Bank Closures
Lloyds to cut 15,000 jobsThe chief executive of Lloyds Banking Group, Antonio Horta-Osorio has announced that a further 15,000 jobs will go at Lloyds as part of a strategic review of the banks operations. |
MPs call for radical reform of bankingThe banking system needs radical, wide-ranging reform to curb irrational risk-taking and to dismantle the "assumption" that systematically important institutions will be rescued by the taxpayer if they are at risk of failure, a panel of MPs has said. |
Credit Suisse cuts 5,300 postsCredit Suisse is cutting another 5,300 jobs from its workforce as it announces further losses. |
Lloyds TSB adds just one HBOS exec to boardOnly one HBOS executive has been appointed to the board of Lloyds TSB following the merger. |
Co-op and Britannia to get into bedBritannia Building Society has entered into talks with the Co-operate Bank with a view to a merger. |
Russia lends Iceland ?4bnRussia is to lend Iceland ?4 billion to aid the country through its banking crisis. |
Icesave failure expectedThe Financial Services Authority (FSA) has reported Icesave is now expected to go into insolvency in Iceland, triggering compensation claims from 300,000 British savers. |
Germany rescues failing bankGermany has moved to rescue one of its biggest banks, Hypo Real Estate, to protect the financial system. |
Bradford & Bingley: Final ex-building society goesThe failure of Bradford & Bingley draws to a close the chapter of 1990s demutualised building societies. |
Washington Mutual sold to JPMorgan ChaseWashington Mutual has become the biggest US bank failure to date. |
HSBC slashes 1,100 jobsHSBC has cut 1,100 jobs worldwide following write-downs due to the credit crisis. |
Morgan Stanley and HSBC rumoured to be in talksHSBC has been named as a potential suitor for Morgan Stanley as fears grow for the future of the Wall Street bank. |
Northern Rock: One bidder in, one outInvestment group Olivant has outlined its plans for a Northern Rock deal, while another is reportedly stepping out of the fray. |
High street banks become endangered speciesThe traditional high-street bank is under threat as Britons increasingly migrate to telephone and internet banking. |
NatWest launches mobile banking in south WalesNatWest is extending its Welsh service with a mobile bank in South Wales. |
Britons want to bank in personTwo Britons in three want their banks to ditch foreign call centres and almost half would like to have a branch near them so they can bank face to face. |
Bank branches closeOne in five bank branches have closed in the last ten years, while profits hit record levels. |
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