Global Banking Directory
Press Release Distribution Service
Add Bank | Banking Forum | Scam emails!
Advertise Your Business Here
BanksDaily Twitter BanksDaily FaceBook BanksDaily LinkedIn

Financial and Banking News

Lloyds Banking Group to slash almost 1000 jobs

Lloyds Banking Group has confirmed it is to axe 985 jobs over the next two years at its motor finance unit, after a detailed review established that the division was "no longer financially viable".

The move comes as Lloyds looks to cut costs after the bank was created following the merger of Lloyds TSB and HBOS. The merged group is the largest provider of car finance in the UK and operates under several brands, including the Bank of Scotland and the Black Horse.

Unions believe that Lloyds Banking Group, which is 43% owned by the Government, will be axing more jobs and closing branches, due to the level of overlap between the two merged banks. The bank has a workforce of 140,000.

Returning to today's announcement, it is understood that 200 jobs in Speke, Merseyside, could be affected, as well as 340 jobs in Chester.

According to the banking giant, some of the losses will arise from combining the two sales forces but the union Unite said it was in talks with the bank and hopes that compulsory redundancies will be a "last resort".

The news comes shortly after insurer Royal Sun Alliance announced 500 job losses.

Source: Financemarkets
Date: 28.04.2009 [224]

Financial and Banking News
 Trump blasts Bitcoin, Libra, demands they face banking regulations

U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank." 11.07.2019 | Source: Reuters

 25th World Islamic Banking Conference announces 4th series of WIBC Leaderboard

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. 28.10.2018 | Source: MEGA

 Financial technologies are need of the hour for Banks in India

The Indian FinTech space is expected to reach $2.4 billion by 2020 and 2018 will be a critical year in that journey because 52 % of India's digitally active consumers are adopting FinTech and are the driving force for new technology adoptions. 02.03.2018 | Source: Explore Exhibitions and Conference

 📰 News Archive

2019 © Global Bank Directory