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 →
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 →
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 →
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 →
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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 →
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 →
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 →
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 →
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 →
We long for turning points. As we mark five years since European Central Bank President Mario Draghi’s ‘whatever it takes’ speech – which crushed government and corporate bond spreads and contributed to an 80% rise eurozone equities – are we on the verge of another inflection? The Eurozone has justRead More →