Banking
Banking
Facing up to the Tech Trust Gap – How Do Banks Prove Themselves and Their Tech?
Banking
Lagarde Comments at ECB Press Conference
Banking
ECB Raises Interest Rates Again, Cuts Bank Subsidies
Banking
ECB Gets Rid of Subsidy on Bank Loans to Mop up Cash
Factbox-Credit Suisse’s Strategic Overhaul at a Glance
Date: October 27, 2022
ZURICH (Reuters) – Battered by years of scandals and losses, Credit Suisse plans to raise capital, cut thousands of jobs and spin off its investment bank. Here are main elements of the new strategy: CAPITAL The bank plans to raise 4 billion Swiss francs ($4.06 billion) to strengthen its balance sheet. Part of this will...
Danske Bank Books $1.9 Billion Provision in Estonia Case
Date: October 27, 2022
By Nikolaj Skydsgaard COPENHAGEN (Reuters) – Danske Bank on Thursday booked a 14 billion Danish crown ($1.89 billion) provision, edging closer to a long-awaited settlement with authorities over its involvement in one of the world’s biggest money laundering scandals. Denmark’s biggest lender had said it faced a potentially “material” fine over its involvement in the...
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...