Finance news, UK and Spain. Credit: Ali Bensoula, Pexels
This week’s round-up of finance news…
UK SME lending hits 3-year high
Business lending by UK high street banks rose to £4.6 billion in Q1 2025, a 14 per cent year-on-year increase, according to UK Finance cited by Financial Reporter. The biggest boost came from small businesses, with lending up nearly 30 per cent, and loan approvals up 37 per cent. Shawbrook’s Neil Rudge warned, “The real issue isn’t the availability of capital – it’s the appetite for it.”
Newable exits UK export scheme
Newable, the only non-bank lender in the UK’s Export Finance Guarantee Scheme, has halted new loans, delivering a blow to small exporters, according to GTR. A UKEF spokesperson confirmed: “Newable has informed customers that it has paused new applications to UKEF’s General Export Facility.” The firm was removed from UKEF’s participant list on June 9, despite having backed 529 SME deals worth £28 million (€33 million) since 2021. Will banks now step in?
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Revolut’s AI finance assistant
Revolut will soon roll out an AI-powered financial assistant to help users make smarter money decisions, according to Bloomberg. UK CEO Francesca Carlesi confirmed the launch at a Bloomberg event in Milan on June 17. The tool will offer personalised financial guidance, with a gradual rollout planned across 2025. Revolut’s user base hit 52.5 million in 2024, with CEO Nik Storonsky saying they’re “just getting started.”
WollettePay to launch in UK
Wollette will launch WollettePay, a direct account-to-account (A2A) payment system, in Q4 2025, according to Fintech News. The service aims to simplify open banking with instant, one-tap payments using biometric verification and encryption – no need for entering card details.
CEO Henry Orunkoya said, “We are giving consumers and merchants a payment experience that is finally as simple as it should be.”
Pre-registration opens in July 2025.
JPMorgan UK CEO
JPMorgan has appointed Maricé Brown as CEO of its UK private bank, effective Q3, following Oliver Gregson’s departure, FN London reports. Brown currently heads JPMorgan Private Bank Mexico. A spokesperson said she brings “deep experience and strong leadership skills to the UK market.” The move reflects broader leadership reshuffles across JPMorgan.
Spain’s bonds in demand
Spain’s government bonds are gaining popularity as the yield spread over German bunds narrows, reflecting renewed investor confidence, Investing.com reports. JP Morgan analyst Nikolaos Panigirtzoglou noted: “Peripheral bonds are now outperforming core bonds.” Spain’s 3.2 per cent GDP growth and stable fiscal outlook are fuelling the rally.
Spain–France power link
The European Investment Bank will invest €1.6 billion in a 400km subsea power line linking Spain and France, set to double electricity capacity by 2028, Euractiv reports. EIB Vice-President Ricardo Mourinho Félix said: “This project is key to strengthening Europe’s energy resilience and solidarity.”
Iberia expanding fleet
Spanish airline Iberia will expand its long-haul fleet from 45 to 70 aircraft by 2030, investing a huge €6 billion, mainly from its own funds, Investing.com reports. CEO Marco Sansavini said the move supports new direct routes to Toronto, Philadelphia, and Monterrey.
Zunder slams Spanish delays
Ultra-fast EV charging firm Zunder says building a hub in Spain can take “twice as long” as in France due to red tape, MobilityPlaza reports. B2B Director Alberto Herrero added: “We can’t afford mistakes… If we don’t sell energy, we close.”
Singapore lessons to the UK
A House of Lords committee urges the UK to emulate Singapore’s fast‑track fintech policies and low‑tax model to boost growth. While sandbox reforms exist, lawmakers say the UK needs more urgent implementation to stay competitive.
UK rate freeze
UK inflation held at 3.4 per cent in May, keeping core rates above target. Economists expect the Bank of England to hold interest rates at 4.25 per cent, with energy price volatility further complicating decisions, cited by The Times.
Cirsa IPO in Madrid
BLACKSTONE‑owned Spanish gaming group Cirsa plans a €460M IPO on Madrid’s stock exchange later this year. Proceeds aim to fuel expansion and reduce debt, with Morgan Stanley and Barclays as lead coordinators, as reported by Reuters.
UK Fintech dip
UK fintech deal numbers are set to drop by 28 per cent in 2025, as investors prefer fewer, larger deals. 58 deals were recorded in the first quarter of 2025, representing a 52 per cent drop from Q1 2024, as reported by Fintech Global.
Statistic of the week:
CaixaBank reveals that the blackout caused a 34 per cent fall in consumption spending by Spanish households that day.
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