Northern Rock, the UK bank that famously imploded in 2007, only to be rescued by the government six months later, has posted its figures for the past half-year, revealing a surprising twist in the bank’s fortunes. Following the nationalisation of Northern Rock in February 2008, the bank was split into two distinct parts – a ‘good’ bank, which contains new savings, and generall...

Results from the European banking stress tests conducted by The Committee of European Banking Supervisors (CEBS) have revealed that seven out of 91 banks failed. The banks that failed included five Spanish banks - Diada, Espiga, Banca Civica, Unnim and Cajasur plus Germany's Hypo Real Estate and Greece's ATEbank. But of the four UK banks that were tested, Barclays, HSBC, Lloyd’s TSB ...

The same week that the new Business Secretary, Vince Cable, announced his intention to take on banks in order to create “a more competitive system where the customers are not ripped off”, research has emerged from Moneyfacts.co.uk which shows that bank margins are at record levels. Recent figures revealed by Moneyfacts.co.uk...

Citizens Advice has revealed that people who are in the process of going through bankruptcy are being denied the right to open a basic bank account. The organisation looked at 17 banks in total, and discovered that only two out of the lot provided bankrupts with basic accounts. A basic account does not provide the user wit...

It looks like interest rates are not set to rise for a while yet after the latest member to join the Bank of England’s MPC (Monetary Policy Committee), David Miles, announced that, according to his judgement, it was still too early to consider putting interest rates up. The MPC is responsible for setting interest rates, and Miles joined just over a year ago. He confirmed that there ...