banking
Banking
ECB raises interest rates again, cuts bank subsidies
Banking
ECB gets rid of subsidy on bank loans to mop up cash
Banking
Factbox-Credit Suisse’s strategic overhaul at a glance
Banking
Danske Bank books $1.9 billion provision in Estonia case
Bank instant payment shift to help business and consumers, says EU
Date: October 26, 2022
By Huw Jones LONDON (Reuters) -Forcing banks across the European Union to offer instant payments in euros is a “seismic” shift to make the economy more efficient and reap savings for businesses and customers, the bloc’s financial services chief said on Wednesday. European Commissioner Mairead McGuinness proposed a draft EU law that will require banks...
Deutsche Bank reports big jump in profit despite slump in dealmaking
Date: October 26, 2022
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Deutsche Bank on Wednesday posted a better-than-expected jump in third-quarter profit as a trading boom at its investment bank offset a nosedive in dealmaking, but executives highlighted risks to the economy in the months to come. Despite its ninth consecutive quarter of profit after years of...
European banks cash in on rising rates as clouds gather
Date: October 26, 2022
By Tom Sims, John O’Donnell and Jesús Aguado FRANKFURT (Reuters) – Some of Europe’s largest banks warned of growing risks as the economy fizzles after posting stronger-than-expected profits on Wednesday, helped by a trading boom in volatile markets and higher interest rates. The boost from the rising cost of borrowing, kept at rock bottom since...
Santander’s higher provisions and costs overshadow Q3 beat
Date: October 26, 2022
By Jesús Aguado MADRID (Reuters) – Higher loan loss provisions in some of Santander’s key markets, such as Brazil and the United States, and a rise in costs overshadowed better than expected third-quarter earnings at the Spanish bank, knocking its shares on Wednesday. Strong profitability in the Americas still helped the bank, the euro zone’s...
ISO20022 is coming – but is the banking sector ready?
Date: October 25, 2022
By John Smith, Chief Technology Officer, EMEA at Veracode. ISO 20022 brings a raft of new security benefits, but ensuring a smooth transition won’t be easy At a time of huge turbulence and uncertainty, financial institutions are facing yet more upheaval, with the introduction of ISO 20022. From November, all financial institutions will need to have the...
Patents are driving quantum leaps in payment innovation
Date: October 25, 2022
By Ilya Dubinsky, Vice President of the CTO Office at global cross-border payments provider Finaro, outlines how patent developments in artificial Intelligence and customer authentication will determine the future direction of payments. Fintech is meshing human ingenuity and technological leaps to create the innovations that today’s consumers and businesses take for granted. Contactless cards removed the...