Banking
Banking
Commerzbank Names New CFO Amid UniCredit Approach
Banking
Three Digital Transformation Trends to Watch in the Years Ahead
Banking
Euro Zone Negotiated Pay Growth Accelerates in Q3, Adding to Rate Cut Caution
Banking
ECB Warns of ‘bubble’ in AI Stocks as Funds Deplete Cash Buffers
Swiss Bank Efg on Course for Record Profit, CEO Says
Date: November 20, 2024
ZURICH (Reuters) -EFG International is on course to beat last year’s net profit and record its most profitable year, the Swiss private bank’s Chief Executive Giorgio Pradelli said on Wednesday. The bank made a net profit “in excess” of 260 million Swiss francs ($294.18 million) in the first 10 months of 2024, compared with 303.2...
Banks, Construction Shares Lead Rebound in Europe’s Stoxx 600
Date: November 20, 2024
(Reuters) – Europe’s main stock index opened higher on Wednesday after a three-session decline, as construction and bank stocks led an overall market recovery, with most safe-haven bids taking a backseat amid easing geopolitical concerns. The pan-European STOXX 600 was up 0.6%, as of 0815 GMT, after touching a three-month low on Tuesday amid an...
HSBC Relaunches ‘Premier’ Brand in UK in Pursuit of Wealthy Clients
Date: November 20, 2024
By Lawrence White LONDON (Reuters) – HSBC is relaunching its ‘Premier’ wealth banking brand in Britain, targeting so-called mass affluent customers who have between 100,000 and 2 million pounds ($2.5 million) to invest. Jose Carvalho, HSBC UK’s head of wealth and personal banking, told Reuters that its fee-free Premier product will offer 24-hour-a-day customer service,...
Russia’s Central Bank Says Inflationary Pressure Remains High
Date: November 18, 2024
MOSCOW (Reuters) -Inflationary expectations among Russian households for the year ahead stood at 13.4% in November, unchanged from October, while inflationary pressure remained high, the central bank said on Monday. The central bank raised its benchmark interest rate to 21% last month, the highest level in more than 20 years, citing high inflation and elevated...
Commerzbank and UniCredit Hold Second Round of Investor Talks, Source Says
Date: November 16, 2024
BERLIN (Reuters) -Commerzbank and UniCredit held a round of investor talks this week, a person briefed on the matter said on Friday, the second such interaction since Italy’s No. 2 bank disclosed in September that it had snapped up a significant stake in the German lender. Commerzbank CEO Bettina Orlopp was on the call, but...
ECB Should Cut Rates Further to Support Recovery, Cipollone Says
Date: November 16, 2024
FRANKFURT (Reuters) – The European Central Bank should cut interest rates further to support a nascent economic recovery in the euro zone, also in the face of potential new trade tariffs in the United States, ECB board member Piero Cipollone said on Friday. The ECB has cut interest rates three times since June after seeing...