The impact of the mass resignations that have beleaguered many businesses in the country is starting to impact the succession plan of many commercial banks in the country. Many Nigerians, in a bid to escape the economic downturn, have opted to relocate from the country to mainly Canada and EuropeanRead More →
Despite the rainy season, accompanied by high winds and giant waves, crab fishing continues to meet consumer demand across Cambodia. On average, more than five tonnes of blue swimmer crabs (Portunus pelagicus), known locally as Kdam Ses, are caught by fishermen off the coast every day to be sold toRead More →
RIYADH: The entrepreneurial ecosystem has been on the rise in the Middle East and North Africa region for some time, with technology-based sectors starting to dominate the business landscape. Financial technology, known as fintech, has been a promising sector for businesspeople and investors, with startups entering and exiting the industryRead More →
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STAMFORD, Conn.–(BUSINESS WIRE)–Based on a new research report released today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The 2022 ISG Provider Lens™ Digital Banking Technology Platforms Global Report reveals that consumers are increasingly demanding fast online banking experiences rather than traditional bankRead More →
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Banks from Spain to Britain get a lift After years of ultra-low interest rates Germany’s Commerzbank benefits from higher rates FRANKFURT/MADRID/LONDON, Aug 3 (Reuters) – European banks are hoping higher interest rates will be sustainable for their businesses as they grapple with the economic fallout from war, soaring inflation andRead More →
By Tom Sims, Jesús Aguado and Lawrence White FRANKFURT/MADRID/LONDON (Reuters) – European banks are hoping higher interest rates for their businesses will be sustainable as they grapple with the economic fallout from war, soaring inflation and a looming energy crisis. German lender Commerzbank on Wednesday reported stronger-than-expected second-quarter net profitRead More →
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Britain’s financial watchdog said on Tuesday that the cost of living crisis, meeting climate targets and improving diversity should be reflected in how banks set salaries and bonuses. “Your role is essential in ensuring that your company’s compensation policies support your company’s purpose, long-term strategy and values, while reflecting theRead More →
The central banks of the major economies expected only a few months ago to tighten their monetary policy very gradually. Inflation appeared to be fueled by an unusual mix of supply shocks associated with the pandemic and later Russia’s invasion of Ukraine, and was expected to decline rapidly once theseRead More →
TBT INITIATIVE: The new activity would facilitate trading, reduce risk and eliminate the need for expensive brokers, the futures exchange said. Eleven domestic financial institutions have signed up as members of a new over-the-counter (OTC) derivatives clearing business that the Taiwan Futures Exchange (TAIFEX) launched on Monday last week toRead More →
By HP Ranina Published: Sat 30 Jul 2022, 5:28 PM Non-resident Indians will now earn a higher return for deposits in non-resident foreign currency accounts as well as on non-resident (external) deposits. Reuters file photo The rupee has weakened significantly in recent weeks. Are measures taken to reduce volatility? TheRead More →
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FRANKFURT/LONDON, July 27 (Reuters) – European banks reported surprisingly good earnings news this week, but some executives spoke of bleak prospects for the rest of the year amid runaway inflation, war and energy shortages. Deutsche Bank (DBKGn.DE), the German lender to Europe’s largest economy, reported stronger-than-expected second-quarter profit on Wednesday,Read More →
The French investment banking start-up Qonto started modestly in 2017 with the aim of facilitating banking for the self-employed and Small and Medium Enterprises (SMEs). In five short years, he reached unicorn status with a valuation of 5 billion dollars (4.4 billion euros) and became a European champion. With officesRead More →
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FRANKFURT, July 22 (Reuters) – European banks, facing a potential economic storm and rising borrowing costs for the first time in more than a decade, are expected to show their weak spots as they brief investors on how their business fared. year. They have already had to deal with soaringRead More →
Francis Opiyo, owner of Green Park Estate in Athi River, shows a notice of demolition mark from the Water Resource Authority (WRA). [David Njaaga,Standard] Banks cited the duplication of roles between national and county governments as one of the barriers to businesses when dealing with environmental issues. A report thatRead More →
The NZX 50 index gained 0.7% Asian stock markets soared Auckland Airport up 2.2% The stock market rose on optimism. Aggressive increases in interest rates would bring the spiral of inflation under control. The benchmark S&P/NZX 50 index advanced 0.7%, or 77.638 points, to 11,187.97 on Thursday. In the broaderRead More →
Major equity barometers continue to trade with modest losses by mid-morning. The Nifty hovered below the 16,140 mark. PSU Banks extended gains for the fifth consecutive trading session. As of 11:28 a.m. IST, the barometer index, the S&P BSE Sensex, was down 238.37 points or 0.44% atRead More →
Almost 10 years ago, Cara Banks turned on the Golf Channel in her hotel room at the PGA Championship and watched Kelly Tilghman host “Live From” on location at Oak Hill Country Club. Banks, who worked there for Sky Sport’s Golfing World, immediately knew that was what she wanted toRead More →
FRANKFURT, Germany (AP) — European banks are not taking climate change risks sufficiently into account and must “urgently step up their efforts” to ensure they understand the possible impact of floods, wildfires and investment losses. That was one of the key findings from a climate stress test of 104 banksRead More →
By DAVID McHUGH, AP Business Writer FRANKFURT, Germany (AP) — European banks are not taking climate change risks sufficiently into account and must “urgently step up their efforts” to ensure they understand the possible impact of floods, wildfires and investment losses. That was one of the key findings from aRead More →
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According to Reuters calculations, more G10 central banks raised interest rates in June than any month in at least two decades, and with inflation at multi-decade highs, the pace of policy tightening should not slow down in the second half of 2022. Central banks overseeing seven of the 10 mostRead More →
The detailed analysis of the world situation Power Bank Market provides key insights on changing industry dynamics, value chain analysis, major investment pockets, competitive scenarios, regional landscape and crucial segments. It also offers an in-depth inspection related to driving and restraining ingredients for the global Power Banks market. Additionally, explainsRead More →
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Law and Justice (PiS) leader Jaroslaw Kaczynski applauds during the first sitting of the lower house of the Polish Parliament in Warsaw, Poland November 12, 2019. REUTERS/Kacper Pempel Join now for FREE unlimited access to Reuters.com Register WARSAW, July 2 (Reuters) – Polish banks (.BNKI) will be taxed more ifRead More →
The COVID-19 pandemic has boosted financial inclusion, driving a surge in digital payments as part of the global expansion of formal financial services. According to the Global Findex 2021 database, this expansion has created new economic opportunities, narrowing the gender gap in account ownership and building resilience at the householdRead More →
Oxford professor Richard Werner, a German banking expert, said negative rates have been the kiss of death for Germany’s cooperatives and regional savings banks, which specialize in lending to small businesses. The policy has eroded lenders’ interest margin, down to 1.2% in Europe from 3.3% in the United States, andRead More →
The verdict is the first-ever criminal conviction of a major Swiss lender in the country’s history. Cocaine. Money caches. An unlucky Bulgarian wrestler. For days during the February trial, the grim details gripped Swiss finance as Credit Suisse Group AG was accused of failing to stop a drug trafficker fromRead More →
Thousands of Irish customers are scrambling to open new current accounts as KBC and Ulster Bank leave the country – with more than 400,000 people believed to be changing. But those looking for an alternative bank will hardly be spoiled for choice. Only three physical banks based in Ireland willRead More →
Polish bankers are so distressed these days that they can look back to the days of the 2008 global financial crisis and long for the resilience they showed back then. Today, the banking market faces unprecedented uncertainties. At first, the main risk was solely in Swiss franc mortgages, where theRead More →
London-based Instanda raised $45m in a Series B funding round. The company provides core no-code infrastructure to insurers, enabling them to deploy and orchestrate product portfolios quickly and easily , ten times faster than the industry standard, according to Instanda. The new capital will be used to expand the company’sRead More →
German pensioner Gabriele Washah queues to fill her trolley with bags of 50-cent carrots, yogurts that have passed their sell-by date and bouquets of wilted flowers. As the cost of living soars across Europe, the 65-year-old retired salesman is one of many Germans turning to food banks to make endsRead More →
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A symphony of light made up of bars, lines and circles in blue and yellow, the colors of the European Union, illuminates the south facade of the headquarters of the European Central Bank (ECB) in Frankfurt, Germany, on December 30, 2021 .REUTERS/Wolfgang Rattay/File Photo Join now for FREE unlimited accessRead More →
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LONDON, June 15 (Reuters) – Global regulators on Wednesday released a detailed checklist for banks to assess how climate change is affecting all aspects of their business, including pay and capital, as economies set carbon reduction targets. International banks like Goldman Sachs, Deutsche Bank and HSBC will need to considerRead More →
Country the United States of AmericaUS Virgin IslandsU.S. Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, RepublicRead More →
Are early warning systems (EWS) for assessing credit risk essential for maximizing corporate banking returns and shareholder value? Certainly yes! but how many follow them? Changing external forces create many risks for corporate banks globally. Investment banks are witnessing today the end of an era. Following the financial crisis ofRead More →
After two years of careful preparation, more than a dozen banks connected to the Swedish mobile payment system Swish are expected to test the pan-Nordic payment platform P27 by the end of the year. Supported by Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank, the noble ambition ofRead More →
June 09, 2022 — Recognizing increased activity in the gut health oligosaccharide market, food ingredient supplier Tate & Lyle has completed the acquisition of Quantum Hi-Tech, a key prebiotic dietary fiber business located in Guangdong, China. Quantum engages in the research, development, production and sale of fructo-oligosaccharidesRead More →
This section is Partnership Content Provided The content in this section is provided by GlobeNewswire for the purpose of disseminating news releases on behalf of its customers. Postmedia has not reviewed the content. by GlobeNewswire Breadcrumb Links GlobeNewswire Author of the article: Content of the article Brentwood, TN and Philadelphia,Read More →
Welcome to the ETMarkets Investor’s Guide, a show about asset classes, market trends and investment opportunities. This is Bhaskar Dutta. The market has been extremely choppy over the past few weeks. Belligerent comments from central banks, interest rate hikes, rising bond yields and selling by foreign investors hurt the market.Read More →
BERLIN — The Swiss government on Friday announced new rules for the country’s five big banks, requiring them to boost their liquidity to better cope with events such as the COVID-19 pandemic in the future. “The review aims to ensure that systemically important banks (SIBs) hold enough liquidity to absorbRead More →
Next week brings a harvest of data printouts and two central bank meetings. Slovakia and Romania will finalize regional GDP breakdowns for 1Q22 – we await confirmation of their flash estimates (at 3.1% y/y in Slovakia and 6.5% y/y in Romania), along with domestic demand driving. The meetings of theRead More →
The Federal Reserve has signaled that more interest rate hikes are coming this summer. It is worrying if you borrow money. But if you’re a saver, that’s good news because it means earning more on the money you’ve parked in a bank. Since the Great Recession, storing cash in aRead More →
A Wall Street banking duo warn of the pound’s “gloomy” outlook, predicting that stubbornly high inflation and an economic slowdown will precipitate further declines for the British currency. The pound has lost ground against most of its main rivals this year, despite four interest rate hikes in the UK sinceRead More →
New Jersey, United States – Verified Market Reports has published the latest competent market research report on the Investment Banking IT Spending Market. The report aims to provide an in-depth and accurate analysis of the Investment Banking IT Spending market, considering market forecast, competitive intelligence, technical insights. risks, innovations andRead More →
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Pedestrians leave and enter the London Stock Exchange in London, Britain August 15, 2017. REUTERS/Neil Hall Join now for FREE unlimited access to Reuters.com Register Serco wins after results Utility stocks under pressure again Banks lead the gains FTSE 100 up 0.6%, FTSE 250 up 1.6% May 26 (Reuters) –Read More →
BOSTON (WWLP) – A total of 19 people from Colombia, Jamaica and Florida have been charged in Boston for their alleged involvement in a sophisticated international money laundering organization that was able to launder more than $6 million from Colombian cartels. through US banking systems. Massachusetts man tried to buyRead More →
The Global “Credit risk management software for the banking market” The 2022 market research report provides a detailed overview of the further development of the credit risk management software market for the banking market. The “Market Research Intellect” now publishes a new market analysis using various methods of analysis, theRead More →
Can banks and other financial institutions better manage their risk and offer faster settlements by tokenizing their liabilities on blockchain networks? Banks and Distributed Ledger Technology (DLT) companies are together exploring ways to integrate regulated liabilities – commercial bank money, central bank money and electronic money – on a blockchainRead More →
Placeholder while loading article actions The U.S. economy could be heading for a recession next year, according to mounting warnings from banks and economists, as a sudden bout of pessimism hits financial markets, which on Thursday fell further away from recent highs. Although large parts of the economy – includingRead More →
According to Rystad Energy research, Africa is expected to peak gas production at 470 billion cubic meters (Bcm) by the end of the 2030s, equivalent to about 75% of the amount of gas produced by Russia in 2022.At the beginning of March, the European Union announced its intention to reduceRead More →
On May 4, the US Federal Reserve raised its benchmark interest rate by half a percentage point in an aggressive attempt to rein in soaring US annual inflation, which is currently at a record high. of four decades by 8.3%. And eurozone inflation hit a record 7.5% year-on-year in April,Read More →
kelvinjay/E+ via Getty Images By Eric Winograd, Director – Economic Studies of Developed Markets The Bank of England (BOE) raised its benchmark interest rate by 25 basis points last week to 1.0%. This decision was widely expected, but what happens next is in the air. As with most global economies,Read More →
Just as George Banks, the bowler-hatted boss of Mary Poppins sang nearly 60 years ago, bankers demand “precision” when they go to work. Without “order”, there is a danger of “chaos and moral disintegration…and a terrible waste”. Well sung, given that the world today faces an existential “mess” as mediaRead More →
Officials in Oregon and Washington confirmed on Friday that the two states had their first cases of highly pathogenic bird flu and that about 150 backyard chickens, turkeys and geese had been destroyed this week. The disease has been present in North America since at least December and was mainlyRead More →
Karolina Uskure and Konstantin Bogatyrev had their N26 accounts closed on April 14.Karolina Uskure and Konstantin Bogatyrev More than 100 customers of N26, one of Europe’s largest online banks, were unable to access their savings after their accounts were suddenly blocked without warning. Customers shared their distress online after N26Read More →
This week, the economic mood music shifted into a more anxious minor tone, as recent shocks to developed world economies resonated longer and louder than expected. Whatever you thought about the economy a week ago, you should be a little more worried than you were. Inflation has been rising forRead More →
The European Banking Authority (EBA) said in its response to the European Commission’s call for advice that banks do not need protections against cryptocurrencies – yet, according to a Friday press release April 29 of the European decision-maker. The European Commission’s call for advice offered a series of recommendations aimedRead More →
Wall Street banks have long outstripped their European rivals when it comes to bonuses, but a fierce battle for junior and middle staff over the past year has upended that pecking order. Goldman Sachs has become by far the biggest payer in these ranks, according to a survey by specialistRead More →
Leestat/iStock via Getty Images Exposure of the financial sector to Russia Current analysis does not guarantee future results. As of September 30, 2021 (Bank for International Settlements) The Russian invasion is a tragedy for the Ukrainian people. It will also have far-reaching consequences for global economies, with European banks inevitablyRead More →
Russian President Vladimir Putin waves to those gathered to attend the concert marking the eighth anniversary of the referendum on Crimea and Sevastopol’s statehood and its reunification with Russia, in Moscow, Russia, Friday, March 18, 2022. ( Ramil Sitdikov/Sputnik Pool Photo via AP) European banks trying to decide if andRead More →
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Credit Suisse and Deutsche Bank detail their exposure to Russia Financial firms strive to distance themselves from Russia BNP Paribas excludes Russian staff from systems LONDON, March 10 (Reuters) – Goldman Sachs Group Inc (GS.N) on Thursday became the first U.S. bank to pull out of Russia after its invasionRead More →
Goldman Sachs Group Inc on Thursday became the first US bank to pull out of Russia after its invasion of Ukraine, while Credit Suisse said it had gross exposure to Russia of 1.6 billion Swiss francs ( $1.73 billion) at the end of 2021. Goldman Sachs, which has credit exposureRead More →
Band Lawrence White and Brenna Hughes Neghaiwi LONDON, March 10 (Reuters) – Swiss credit CSGN.S said it had gross exposure to Russia of 1.6 billion Swiss francs ($1.73 billion) at the end of 2021, the latest European bank to reveal the scale of potential losses as sanctions Western powers excludedRead More →
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ZURICH/FRANKFURT, March 8 (Reuters) – Women remain rare in the upper echelons of European banks. The 25 largest banks by assets have seen 22 CEO and chairman changes in the past two years, including announcements of upcoming appointments, according to a Reuters study of industry leadership positions . Twenty-one ofRead More →
Russia’s invasion of Ukraine is putting pressure on central banks on the European Union’s eastern flank to support their weakened currencies, forcing Czech and Polish authorities to intervene in the market and Hungary to prolonged rate hikes.The market sell-off following the February 24 Russian invasion and an impending energy priceRead More →
European banks brace for Russian-backed cyber-retaliation – Risk.net Tougher Sanctions on Russia’s Biggest Banks Trigger Computer Security Alert; Hundreds of computers downed in Ukraine European banks are bracing for an escalation in state-sponsored cyberattacks as Russia’s invasion of Ukraine sparked a barrage of sanctions against the country’s biggest financial firms.Read More →
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The City of London’s financial district is seen as people walk on the Millennium Bridge in London, Britain February 16, 2022. REUTERS/Henry Nicholls/File Photo Join now for FREE unlimited access to Reuters.com Register Britain, EU and US announce sanctions against Russian banks HSBC fears ‘wider contagion’ The most exposed Austrian,Read More →
On Tuesday (February 22nd), European banks braced for the fallout from new global sanctions as the Ukraine crisis escalated, although US bank executives said they expected the sector to be safe from major disruptions after pulling out of Russia in recent years. European banks – particularly those in Austria, ItalyRead More →
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On Tuesday, European banks braced for fallout and new sanctions after Russia ordered troops into breakaway regions of eastern Ukraine, with HSBC warning of market contagion and l Austrian Raiffeisen Bank International preparing ‘crisis plans’. European banks – especially those in Austria, Italy and France – have the world’s mostRead More →
By Tom Sims, Lawrence White and John O’Donnell FRANKFURT (Reuters) – Amid fears of a Russian invasion of Ukraine, Italy’s UniCredit has backed out of a possible acquisition in Russia and Austria’s Raiffeisen Bank International has set aside risk provisions for possible sanctions against Russia. What is the region BankWhatRead More →
Band Tom Sims, Lawrence White and John O’Donnell FRANKFURT, February 9 (Reuters) – Amid fears of a Russian invasion of Ukraine, Italy’s UniCredit has backed away from a possible acquisition in Russia and Austria’s Raiffeisen Bank International has set aside risk provisions for possible sanctions against Russia. What banks inRead More →
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LONDON, Feb 14 (Reuters) – European banks are providing billions of dollars in financing to expand oil and gas production, a report showed on Monday, despite International Energy Agency recommendations against new facilities to slow down global warming. In 2021, twenty-five of the region’s top banks collectively provided $55 billionRead More →
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A Ukrainian Armed Forces tank is seen during military exercises at a training ground in Dnipropetrovsk region, Ukraine, February 8, 2022. Ukrainian Armed Forces General Staff/via REUTERS Join now for FREE unlimited access to Reuters.com Register FRANKFURT, Feb 9 (Reuters) – Amid fears of a Russian invasion of Ukraine, Italy’sRead More →
Stock prices have already rebounded. Banco Santander SA, one of the worst stocks of major European banks, has risen by a fifth in the past 12 months. Societe Generale SA more than doubled. The Euro Stoxx Banks index rose by 50%. The story continues under the ad But there areRead More →
The European Central Bank is warning banks against releasing loan loss provisions early and wants to ensure that the assumptions underlying existing provisions prove to be correct before further releases. Banks added provisions – funds set aside to cover future non-performing loans – at the start of the COVID-19 pandemicRead More →
Rising interest rates are not the mere boon to long-suffering European banks that they might first appear. Patience will be required. European bank stocks have outperformed strongly this year, rising around 6% even as the broader market fell. These are economic indicators, so signs of recovery have supported them, alongsideRead More →
ROME (AP) — To mask or not to mask is a question Italy settled at the start of the COVID-19 outbreak with a resounding “yes.” Now Europe’s former epicenter of the pandemic is hoping even tougher mask rules will help it beat the latest wave of infection. Other countries areRead More →
With the financial services industry – and retail banking in particular – facing tough economic times following the COVID-19 pandemic and resulting change in customer behavior, the budget cycle is never over. critical to support a difficult year ahead. Asking five simple questions about contracts with third-party vendors could makeRead More →
By Jesús Aguado and Tom Sims MADRID / FRANKFURT (Reuters) – At Spain’s Caixabank, most customers who visit a branch for a service they could access online will now have to pay two euros for the privilege. The fees are part of a shift by European banks, suffering from yearsRead More →
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Caixabank’s Bankia deal could cost some customers dearly Fees on some debit cards, cash withdrawals from branches on the rise Costs are also increasing in Germany and Italy Caixabank’s new policy follows IT integration after November 12 MADRID / FRANKFURT Nov 15 (Reuters) – At Spain’s Caixabank (CABK.MC), most customersRead More →
Andrea Enria, chairman of the supervisory board of the European Central Bank (ECB), gestures during an interview at Eurotower in Frankfurt, Germany on Tuesday, December 15, 2020. Enria said the ECB allows payment of dividends No limit. Photographer: Alex Kraus / Bloomberg, Bloomberg (Bloomberg) – European banks have used theRead More →
(Bloomberg) – The upheavals in the European banking sector are not slackening. On Monday, Barclays Plc became the 10th major lender since late 2019 to replace its chief executive when it appointed CS Venkatakrishnan as successor to Jes Staley, who unexpectedly resigned. UniCredit SpA, Danske Bank A / S andRead More →
The global economy is on a wave of mergers and acquisitions, with more mergers in the first half of 2021 than in any year of this century. Rich in cash and able to borrow at extremely low rates, businesses around the world are seizing the opportunity to reinvent, reorganize andRead More →
The European Central Bank wants to ensure that credit flows into the European economy to support its recovery as the pandemic continues. Banks cash in. Eurozone banks make money through an ECB program that essentially remunerates them for lending, increasing their income, and helping to offset some of the costsRead More →
The European Central Bank wants to ensure that credit flows into the European economy to support its recovery as the pandemic drags on. Banks collect. Eurozone banks are making money from an ECB program that essentially pays them to lend, boosting revenue and helping to offset some of the costsRead More →
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The skyline with the banking district is pictured in Frankfurt, Germany on August 24, 2021. The photo is taken with a long time exposure and zoom burst. REUTERS / Kai Pfaffenbach / File photo Register now for FREE and unlimited access to Reuters.com Register “Very limited” ESG risk exposure measurementRead More →
European banks are under pressure to review their operations in the aftermath of the Covid-19 crisis, or risk losing up to 160 billion euros in revenue. That’s according to a report by consultants Oliver Wyman, which says that while European banks have weathered the pandemic better than expected, they needRead More →
The ESG Insider newsletter compiles news and insights on environmental, social and governance developments leading to changes in business and investment decisions. Subscribe to our ESG Insider newsletter and listen to the “ESG Insider†podcast on SoundCloud, Spotify and Apple podcasts. How much would you pay for a bumblebee? ThisRead More →
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People are protesting plans by BBVA, the country’s second largest bank, to cut back its banking staff in its domestic market in Madrid, Spain on June 2, 2021. The sign on the t-shirt reads “No to the ERE (workforce adjustment plan) in BBVA “. Register now for FREE and unlimitedRead More →
The last time European banks attempted to build a payments group that could take on the US giants that dominate the industry, they failed miserably. But when the Monnet Project collapsed in 2011, no one was talking about the commercial threat from US tech companies; and EU politicians hadn’t justRead More →
European banks could take the edge over their US counterparts with a proposed “green asset ratio” to enlighten investors on increasingly important environmental issues, according to market participants. The European Banking Authority has recommended that banks adopt a host asset ratio, or GAR, to show how their business activities areRead More →
Through Bharat Bhushan, CTO, Banks and Financial Markets (EMEA), IBM Today, cloud computing is not only essential to the future success of the European financial sector. It is also at the heart of the continent’s COVID-19 economic stimulus plan. However, due to concerns over regional independence and operational resilience, theRead More →
By Steve Hussey, Jørgen Kjærsgaard For shareholders of European banks, 2020 was a year to forget. But bank bondholders have enjoyed positive returns and could weather the challenges of COVID-19 again in 2021, supported by strong balance sheets and supportive regulatory conditions. The impact of the coronavirus has increased theRead More →
Bank bosses bragged at the start of the coronavirus pandemic that, unlike the financial crisis, their institutions would help save rather than overthrow the global economy. But for many of their shareholders, 2020 was the year that European lenders came close to being unable to invest. Despite a recent modestRead More →
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The facade of the European Commission headquarters is reflected in the windows of the EU Council building in Brussels, Belgium, April 5, 2019. REUTERS/Francois Lenoir Join now for FREE unlimited access to Reuters.com Register LONDON/BRUSSELS, Dec 14 (Reuters) – European banks are not integrating climate change and other sustainability concernsRead More →
The headquarters of Deutsche Bank are pictured in Frankfurt, Germany on March 19, 2018. LONDON (Reuters Breakingviews) – Overzealous parents sometimes inadvertently hold children back. Likewise, Deutsche Bank, UBS and others risk suffocating their AMUs in too tight an embrace. European fund managers are puny compared to US giant BlackRock,Read More →
Europe appears to be on the cusp of a second wave of the COVID-19 pandemic which has already plunged its economy into its worst economic recession in 90 years. Yet European policymakers continue to reassure us that all is well with the European banking system. Their cheerful discussion raises fearsRead More →
By Jack Farchy, Isis Almeida, Andy Hoffman and Ruben Munsterman When Marc Rich needed $ 100 million to buy Iranian and to kick-start what would become the world’s largest commodities trader, he turned to French bank Paribas. When a group of traders needed the money to take over Vitol andRead More →
PARIS (Reuters) – More than 360 billion euros ($425 billion) in loans at Europe’s biggest banks have been subject to payment halts or other coronavirus relief measures, but the big question is whether borrowers will be able to resume payments when support ends. FILE PHOTO: A man walks towards theRead More →
People wearing face masks walk in front of a large euro sign in Frankfurt Main, western Germany, as the headquarters of the European Central Bank (ECB) can be seen behind -plan on April 24, 2020. Yann Schreiber | Getty Images Question marks persist for major European banks as they enterRead More →
Barclays (BCS), German Bank (comics) and Santander Bank (SAN) collectively set aside nearly $6.6 billion in the second quarter for expected loan losses resulting from the coronavirus pandemic, according to earnings reports released Wednesday. This is on top of the large sums they set aside in the spring, bringing theRead More →
European banks are heading for second quarter results after suffering near universal drops in key capital levels, threatening their ability to lend, while most have also seen their liquidity capacity to meet their financial obligations s’ weaken. S&P Global Market Intelligence research looked at the Tier 1 capital and liquidityRead More →
Hungarian Parliament, Budapest, June 2017 © Paolo Paradiso / Shutterstock As Germany takes the rotating EU presidency, Chancellor Angela Merkel Noted that the bloc faces a triple challenge: the coronavirus pandemic – receding but still requiring constant vigilance – the most brutal economic downturn on record by the EU andRead More →
LONDON (Reuters) – Banks in central, eastern and southeastern Europe are set to be hit by a wave of bad loans that could last beyond 2021, a report from the lenders and policymakers consortium said on Wednesday. Vienna Initiative. Banks were better prepared than during the previous financial crisis inRead More →
European banks have built up enough reserves to weather the effects of the coronavirus pandemic, but not all will be able to weather a sharp drop in profitability as lending turns sour and the cost of raising money funds are rising, a banking regulator said Monday. In its first assessmentRead More →
LONDON / MILAN / MADRID (Reuters) – European banks are expected to set aside billions for potential loan losses as well as taking profits from the coronavirus crisis when they start reporting results in the next two weeks. FILE PHOTO: The Deutsche Bank logo is pictured on a company’s officeRead More →
LONDON (Reuters) – Banks call on EU regulators to align with the US Federal Reserve’s plan to relax a rule that measures a bank’s capital reserves to promote cash flow to businesses affected by the coronavirus crisis. Earlier this month, the Fed proposed a temporary relaxation of an additional leverageRead More →
LONDON – European banks are bolstering their capital by canceling or delaying dividend payments, worrying about their ability to absorb a possible rush of bad debts as households and businesses are hit by the coronavirus pandemic. On Tuesday evening, the UK’s four largest banks in terms of assets said theyRead More →
According to a study by S&P Global Market Intelligence, many major European banks entered the coronavirus crisis with their liquidity situation worsening, even as the European Central Bank resorted to paying banks to maintain liquidity. The Italian Banca Monte dei Paschi di Siena SpA, the British Standard Chartered PLC andRead More →
More than a decade after the financial crisis, European banks are facing a major test of their resilience. This week, growing fears about the coronavirus pandemic and an oil price war caused the market to sell off. Businesses have spent a decade gorging themselves on cheap debt in an environmentRead More →
From ringing cancellation to remote working schemes, stock exchanges and banks across Europe are taking a variety of measures to ensure business continues during the novel coronavirus crisis. The outbreak, which the World Health Organization has called a pandemic, has prompted banks to start testing work-from-home and remote programs forRead More →
According to EURACTIV, an official document titled Component of a global industrial strategy has been published, which describes the main areas of interest for the development of EU industries. In the leaked report, and regarding 6G, reference is made to a “strategic European partnership” which will involve research and innovationRead More →
Coronavirus-driven base rate cuts are expected to squeeze European banks’ net interest margins and push profit targets out of reach, while lenders with large branch networks, including those in Italy, are likely to be disproportionately affected by COVID-19, analysts say. Central banks slashed policy rates and European stocks tumbled afterRead More →
Everything is changing at the top of the big European banks. HSBC and ING are looking for new chief executives. Barclays are set to join the hunt as the UK lender seeks candidates to replace Jes Staley. UBS, Credit Suisse and Royal Bank of Scotland have all recently appointed newRead More →
A maxim often repeated in the banking industry is that you cannot “cut to the glory”. Hindered by the long-term extension of negative rates by the European Central Bank, slowing economic growth, Brexit and burgeoning regulatory requirements, lenders from Germany, UK, France, Spain and Switzerland have collectively announced more thanRead More →
FILE PHOTO – UBS CEO Sergio Ermotti during a panel discussion at the Swiss-American Chamber of Commerce in Zurich, Switzerland January 18, 2019. REUTERS/Arnd WIegmann ZURICH (Reuters) – UBS Group UBSG.S Chief executive Sergio Ermotti said on Wednesday that banking consolidation, particularly in Europe, is inevitable in the coming yearsRead More →
The isolationist policy is closing in on the payments industry, with European banks threatening to build a localized payments ecosystem to fend off major US card brands. The planned European network, called Pan European Payment System (or PEPSI), includes 20 European banks and has the tacit support of the EuropeanRead More →
BERLIN, Reuters administration of the European Central Bank. FILE PHOTO: Isabel Schnabel, a member of Germany’s economic expert advisory board, poses before a news conference in Berlin, Germany November 6, 2019. REUTERS/Fabrizio Bensch Isabel Schnabel, a prominent economist, is set to take Germany’s place on the board of the eurozoneRead More →
For European lenders, one success after another. Banks in Germany, Italy and the Netherlands warned on Wednesday that making money and improving their operations were becoming more difficult as already low interest rates were expected to fall. A low interest rate environment that lasted longer than expected has already weighedRead More →
Daniele Nouy called on European bankers to strengthen the range of services they offer to companies on the continent and do more to challenge the dominance of their American and Asian counterparts. Responding to a question about whether Europe needs bigger banks to compete with US and Asian rivals, theRead More →
Emerging markets take a beating as a currency crisis in Turkey weighs on investor appetite, but the episode is also a reminder that Europe’s banking system continues to be seen as a threat to global growth and developed markets. “The question is whether the massive defaults of Turkish corporate borrowers,Read More →
Chesnot | Getty Images News | Getty Images The Societe Generale chairman said the European banking space should follow in the footsteps of that of the United States, calling on regulators to facilitate greater consolidation in the region. Speaking to CNBC over the weekend, Lorenzo Bini Smaghi said European banksRead More →