Kalyeena Makortoff

Kalyeena Makortoff covers how banks intersect with everyday life, focusing on the way strategy decisions by major lenders shape the high street, customer access to money and the wider economy. As the Guardian’s banking correspondent, she tracks the power and behaviour of the UK’s biggest banks and challengers, highlighting the practical consequences of boardroom choices for ordinary savers, borrowers and small businesses. Her reporting links balance sheets to branch networks, regulation and public trust.

UK high street banks and branch closures

Much of Makortoff’s coverage follows the shifting presence of high street banks, from branch closures to rebranding drives. She reports on decisions by major groups such as Lloyds, NatWest, HSBC and Barclays to shut local outlets, trim opening hours or consolidate brands, as in her piece on the future of Halifax branches under a new Lloyds branding strategy. In these stories she consistently ties corporate plans to the geography of access to cash, pointing out which towns lose their last branch and how customers are pushed towards digital services.

Her articles often quantify the scale of change, detailing how many branches are affected in each wave of cuts and setting those figures against longer-term closures across the sector. She cites reasons given by banks, such as declining footfall or rising digital use, but also surface criticism from campaigners, unions and MPs about the impact on older people, vulnerable customers and cash-reliant businesses. When she covers branch-sharing schemes or banking hubs, she explains how they work in practice rather than treating them as abstract policy fixes.

Across this strand of coverage, Makortoff writes in straightforward, unadorned language that keeps the focus on what customers will notice: a rebranded fascia, a shuttered branch, an extra bus ride to deposit takings. She treats announcements about networks and signage as signals of deeper shifts in banks’ retail priorities.

Profits, interest rates and the cost of living

Makortoff frequently examines how rising interest rates and strong bank profits sit alongside a cost of living squeeze. She covers quarterly and annual results for the major UK banks, highlighting margins, net interest income and bonus pools, and sets those numbers against pressure over low savings rates and expensive mortgages. Her reporting tracks how quickly lenders pass on central bank rate rises to borrowers compared with savers, echoing criticism from regulators, MPs and consumer groups about so‑called “loyalty penalties”.

These pieces often pair headline profit figures with clear explanations of what they mean for customers, such as higher returns on cash ISAs, changes to overdraft charges or shifting mortgage offers. She follows interventions by watchdogs and committees pressing banks on their treatment of savers, and covers sector responses ranging from new fixed‑rate products to public hearings. When she writes about windfall accusations or calls for additional taxation, she focuses on evidence and impact rather than political rhetoric.

Makortoff also uses bank earnings season as a way to explore broader economic themes, such as the health of small business lending, trends in credit card use or rising impairment charges that signal stress among households. The through-line is a detailed, numbers‑driven account of how macroeconomic shifts are felt in people’s accounts.

Scandals, regulation and consumer protection

Another recurring focus is the friction between banks and their customers when things go wrong. Makortoff reports on mis-selling and debanking rows, regulator fines, and investigations into how banks handle complaints, politically exposed persons and vulnerable clients. She covers rule changes and consultations from bodies such as the Financial Conduct Authority and the Prudential Regulation Authority, explaining in plain terms how new requirements on fairness, duty of care or account access will alter bank behaviour.

Her stories often foreground individual or small business experiences as an entry point, then widen out to show how typical those cases are and what remedies exist. When she reports on fraud and scams, she looks at reimbursement rules, the division of responsibility between banks and payment providers, and the incentives created by any new framework. In coverage of sanctions or money‑laundering controls, she balances the compliance demands on banks with the risks of over‑zealous account closures.

Across regulatory and scandal coverage, Makortoff treats banks as powerful institutions that require scrutiny but also careful explanation. She avoids sensational framing in favour of documenting the process: who is investigating, what rules have allegedly been breached, what redress customers can expect and how the sector is lobbying to shape outcomes.

Digital banking, fintech and changing customer habits

Makortoff also tracks the rise of digital‑only banks and fintech firms, and how they challenge incumbents on service, technology and fees. She covers the growth and setbacks of app‑based players, from profitability milestones and funding rounds to product launches and regulatory criticism. Her pieces often compare features such as instant notifications, budgeting tools and savings “pots” with legacy offerings from established banks.

She reports on the broader shift away from cash and cheques towards contactless cards, mobile wallets and faster payments, noting where this creates convenience and where it excludes people. When new regulations or technical changes affect payment systems, she explains jargon and timelines so readers understand why a behind‑the‑scenes infrastructure tweak matters. Her fintech coverage sits alongside the high street beat rather than apart from it, treating both as parts of the same banking landscape that customers navigate every day.

Beyond straight news, Makortoff occasionally files explainers and analysis pieces that step back from a single announcement to answer bigger questions: how safe customer deposits are, what happens in a bank failure, or why particular lenders dominate certain markets. Across formats, her work is defined by a focus on tangible customer impact, clear explanation of financial mechanics and sustained scrutiny of banking power.