05/29/2020
Nationwide takes £100m hit as profits plummet
Chief executive Joe Garner said, “While the coronavirus impacted our profitability in the last few weeks of the year, there was pressure on margins even before it hit.”
Retail Banking
05/26/2020
HSBC to sell US retail arm as part of more 'drastic' overhaul: reports
It is understood the board's review of what is already the biggest overhaul in the bank's 155-year history will involve deeper job cuts.
05/25/2020
Challengers beat incumbents on account opening experience
UX expert Peter Ramsey from Built for Mars has investigated whether these new entrants do actually make the process of opening an account better.
05/19/2020
Commerzbank calls in consultants from McKinsey and Bain
In January, the chief financial officer of Commerzbank, former McKinsey partner Bettina Orlopp, announced that the bank had hired Bain & Company to identify an additional €500 million in savings
05/15/2020
Russian bank TCS expects slower growth in 2020, withdraws guidance
TCS, the parent company of Tinkoff Bank, had previously said it expected annual net profit to increase to 42 billion roubles - another record - from 36.1 billion in 2019.
05/13/2020
Open Banking: Are consumers keeping an open mind?
While the regulation was designed to facilitate open banking, the market demand was uncertain.
05/04/2020
Banks to book more than $50bn against bad loans
Lenders take diverging approaches in making provisions for coronavirus damage
04/30/2020
CaixaBank posts profit of €90 million
CaixaBank has deployed an extensive package of measures to support the needs of both businesses and individuals.
04/30/2020
Lloyds Banking Group scrapes profit after $1.75 billion COVID-19 provision
Lloyds is viewed as a bellwether for the British economy, as the country’s largest provider of home loans and one of its biggest backers of businesses.
04/29/2020
32 banks incl BNP Paribas, Crédit Agricole go live on blockchain for interbank reconciliations
The permissioned solution uses R3’s enterprise blockchain Corda which enables only the two participating banks to share the transactions with each other.
04/28/2020
AIB joins coronavirus loans scheme weeks after main NI banks
Most of that has been customers seeking repayment holidays.
04/24/2020
Swedbank sees first loss since 2009 on fine, coronavirus
Meanwhile, the coronavirus raises the prospect of loan losses and credit impairments for banks, as businesses shut their doors and lay off staff.
04/12/2020
Russia’s central bank closes deal to sell Sberbank to finance ministry
The deal had been discussed for several months but has now been rushed through as a way of pumping through more cash from the National Welfare Fund into the budget in the midst of the economic meltdown caused by the double whammy of the collapse of oil pr
04/08/2020
Metro Bank announces criteria changes
For applications with bonus, commission or overtime income, 50 per cent of the bonus, commission or overtime averaged over the past two years will be used in the affordability assessment, and the past two years’ P60s will be required as evidence.
03/29/2020
Citi, Morgan Stanley join European banks in pausing job cuts
The need for steep cuts at European banks is more acute, where such measures are a major piece in their plans to restore lacklustre profitability or bolster shareholder payouts
03/25/2020
The future of retail banking: trends and outlooks
Challenger banks are still finding their business models and Open Banking services have hardly become mainstream yet.
03/24/2020
UK to raise contactless card payment limit to 45 pounds in April
Consumers who need to spend more than 45 pounds will still be able to use chip & pin cards and contactless payments via mobile phone, which are not limited because they use biometric technologies to verify the presence of cardholders.
03/18/2020
Metro Bank faces backlash over refusal to introduce fraud prevention measure designed to stop people losing millions to bank transfer scams
Confirmation of Payee is being rolled out over the next month by banks
03/16/2020
Defunct bank's art sells for almost €65,000
The first collection of artworks in the online sale owned by the National Irish Bank were sold by Whyte's auction house last December, and made €30,000.
03/10/2020
RBS to provide extra £350m cash help to small firms hit buy Coronavirus
Loan support will be added to additional help in Brexit impact fund