Tag: Financial Results

HSBC reportedly writes off remaining $5.8m stake in UK fintech Monese

Banking Laura M - October 4, 2024

HSBC Holdings has written off its remaining 5.4% stake in UK-based fintech Monese. HSBC acquired a minority interest...

Payments infrastructure start-up Kevin reportedly declared insolvent by court in Lithuania

Banking Laura M - September 27, 2024

The Vilnius District Court in Lithuania has declared the payments infrastructure start-up Kevin insolvent. A bankruptcy case has...

Revolut becomes Europe’s most valuable private tech firm after $500m employee share sale

Banking Laura M - August 20, 2024

New Valuation: Revolut has become Europe’s most valuable private tech company, now valued at $45 billion after a...

UK challenger Oxbury Bank announces first full year of profitability

Banking Laura M - July 4, 2024

Oxbury Bank Achieves Profitability: Key Points Profitability Milestone: Achieved profitability in under three years since launch. Reported a pre-tax...

Revolut announces record $545m profit for 2023

Banking Laura M - July 3, 2024

Revolut Annual Financial Report 2023: Key Points Record Financial Performance: Revenue Growth: Revenue surged by 95%, from $1.1 billion...

Allica Bank reports first full year of profitability after revenues double

Banking Laura M - April 26, 2024

Allica Bank's Financial Performance: Allica Bank, a UK challenger bank lending to SMEs since 2020, reported its first...

US neobank Dave achieves profitability over Q4 2023

AI Laura M - March 10, 2024

Dave Neobank Achieves First Quarterly Profit: Profitability Milestone: Los Angeles-based neobank Dave has achieved its first quarterly profit in...

New York Community Bancorp secures $1bn equity boost following Q4 2023 losses

Banking Laura M - March 10, 2024

New York Community Bancorp (NYCB) Raises $1.05 Billion: Equity Capital Raise: NYCB, the parent company of Flagstar Bank, is...

Deutsche Bank to cut 3,500 roles over two years amid €2.5bn savings drive

Banking Laura M - February 11, 2024

Deutsche Bank plans to cut approximately 3,500 jobs over the next two years as part of its €2.5...

Jack Dorsey’s Block lays off staff across Cash App, Square and foundational teams

Banking Laura M - February 5, 2024

Block, a San Francisco-based payment solutions specialist, is implementing job cuts across its Cash App, Square, and foundational...

Citigroup to cut 20,000 jobs over two years after Q4 downturn

Banking Laura M - January 20, 2024

Citigroup Job Cuts: Citigroup plans to cut around 20,000 jobs by 2026. Q4 2023 Performance: In the fourth...

UK fintech funding fell 63% in 2023, new Tracxn report finds

Banking Laura M - January 12, 2024

Funding Decline: Fintech funding in the UK experienced a significant decline for the second consecutive year, dropping by...

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