- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

As big banks see profit margins squeezed could we really be paying for current accounts in 2021?

2020 has seen current account cashback and interest perks cut or disappear

European banks struggle to crack US retail market

Lenders squeezed out as American rivals double down on domestic operations

Spain's Unicaja, Liberbank to approve merger at Tuesday board meetings

Banks in Europe are grappling with record low interest rates and the economic impact of the pandemic is forcing them to make further cost cuts.

Irish consumer and business sentiment picks up in December

Bank of Ireland Economic Pulse was up 3.2 on last month but down 12.8 on a year ago

Santander further tightens self-employed evidence requirements

Where SA302s are used to prove income –the business turnover must be provided to help cross reference with bank statements.

Co-op Bank acquisition talks fall through

The Bank’s majority shareholders have now confirmed that these discussions have ended.

PagoFX launches international money transfer service in Spain

Due to the pandemic and travel restrictions, PagoFX is helping Spanish residents with a no-fee programme, which lets all users to send up to €1.000 in different transactions at no fee until 28 February 2021, and higher amounts at a low cost.

BBVA, the first bank to integrate its app in Xiaomi mobile phones in Europe

This new alliance is one more step within the different collaborations and agreements that we have signed with global partners

Broker satisfaction with lenders hits record low

Overall satisfaction with lenders is now 77.8%, a drop of 4.9% since H1 2020, and is the lowest score reported since tracking began in H2 2018.

SOCIETE GENERALE: Two Major Strategic Initiatives In French Retail Banking

The combination of the Societe Generale and Crédit du Nord banking networks will form a new entity at the service of nearly 10 million customers

The Bank of New York Mellon opens a new branch in Denmark

BNY Mellon is a truly global bank and we’re excited that this new branch will drive growth and allow clients to access our capabilities around the world more seamlessly.

Piraeus Bank profit drops on higher loan-loss provisions

The bank said it had 5.3 billion euros of loans under payment moratoria at the end of September.

Lloyds to close 56 branches

Following a Covid-19-related pause, Lloyds Banking Group has resumed plans to close 56 branches across its network, affecting 160 jobs.

Spain's BBVA to sell US banking arm to PNC for US$11.6 billion

Shares in BBVA jumped almost 16% to €3.6830, while shares in Spain's Sabadell rose 12.7% to €0.3791 as the market bet that BBVA could use part the proceeds from the sale to buy its smaller Spanish rival, which has a current market capitalis

John Lewis and Lloyds cut 2,570 jobs in business shake-ups

Union calls for bank changes to be put on hold during pandemic

Lloyds Bank to axe more than 1,000 jobs to simplify restructure

“These changes reflect our ongoing plans to continue to meet our customers’ changing needs and make parts of our business simpler.

BNP Paribas posts profit beat for third quarter and maintains guidance for the year

The lender also said it has 472 billion euros available in liquidity reserves.

Sainsbury's mulls sale of banking arm amid near-zero interest rates

It comes as small and medium-sized lenders have been recently battling near-zero interest rates and tough competition, which have put a strain on margins.

EBRD provides €20 million loan to Banca Intesa Beograd

The EBRD funds will address the liquidity needs of corporates, small businesses and municipalities that are experiencing a decrease in their activities and turnover due to the spread of the virus.

Natwest beats expectations on lower impairments

“Profitability is already fairly weak thanks to ultra-low interest rates, it might not take much to tip the bank into a loss."