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Women in the UK in the banking and finance industry are paid 9.3 per cent less than men working in a similar position, according to PwC’s annual Women in Work Index report published in February.  The report assesses progress made towards achieving gender equality at work across 33 countries from the OECD. Considering the “gender pay penalty” by industry, the gap in banking and finance is higher than the 7 per cent average across all industries, but lower than in areas such as manufacturing. The gender pay penalty differs from the gender...

Wholesale banking experienced a period of expansion between 2019 and 2022 with a compound annual growth rate of around eight per cent, according to a Bain & Company report, “Five themes that will fundamentally change wholesale banking”, which predicts the ratio will be reduced to only 2 per cent in the most positive scenario between 2022 and 2025 (projections use 2022 as base year due to incomplete data available for 2023).During the period, different areas within wholesale banking expanded at varying rates. Corporate lending income soared as net interest margins...

Changes in Basel 3.1, as it is known in the UK, represent complex regulatory challenges for banks, but most seem to have started work on it well ahead of the July 2025 implementation date. According to a survey published by Grant Thornton this month, 60.6 per cent of British lenders have begun working on impact assessments and planning.  The consultancy surveyed 33 banks and building societies of different sizes and complexities. Around 43 per cent of surveyed firms said credit risk is the element most affected by the new rules. Disclosure and reporting is...