Tag: Financial Results
UK challenger Oxbury Bank announces first full year of profitability
Oxbury Bank Achieves Profitability: Key PointsProfitability Milestone:Achieved profitability in under three years since launch.
Reported a pre-tax...
Revolut announces record $545m profit for 2023
Revolut Annual Financial Report 2023: Key PointsRecord Financial Performance:Revenue Growth: Revenue surged by 95%, from $1.1 billion...
Allica Bank reports first full year of profitability after revenues double
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
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
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
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
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
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
Funding Decline: Fintech funding in the UK experienced a significant decline for the second consecutive year, dropping by...
Monese aims to secure fresh funding after recording £30.5m annual loss for 2022
Monese records £30.5 million loss for 2022, seeks new funding
Generated revenues of £27.7 million, attributing the increase...
UK financial services firms cautious but keen to adopt GenAI, new survey says
GenAI Adoption in UK Financial Services:70% of UK Finance members are currently piloting generative AI (GenAI) use...
FCA places embattled Metro Bank on financial crime watchlist as rescue deal continues
Metro Bank's Situation:Â The bank is on the Financial Conduct Authority's (FCA) financial crime watchlist, confirmed on June 6.
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