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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 →
(Repeats to additional subscribers) By Tom Sims, Lawrence White and John O’Donnell FRANKFURT, Feb 9 (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 in view of possibleRead 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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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 →
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 →
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 →
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 →
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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 loans were given to Pepper in January 2018, with an initial 30-month contract, extended until October 30, 2020. Pepper manages 850 million euros in defaulted and guaranteed mortgage loans with an average delay of more than seven years. In 2019 alone, Pepper solved 22.3% of that book, a resultRead 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 →
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 →
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 →
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 →
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 →
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 →
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 →