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BBVA to acquire bailed-out Spanish bank

BBVA will also be shielded from most losses on Unnim’s real estate holdings, a spokesman for the Bilbao, Spain-based bank said in a telephone interview.

Brazil overtakes UK to become world's sixth-largest economy

By CEBR's calculations, Brazil's GDP totalled $2.469 trillion (£1.568 trillion) in 2011, while UK GDP was $2.420 trillion.

Royal Bank of Scotland moves jobs to India Close

RBS, which is 82-per cent owned by the government, has slashed about 34,000 jobs since it was bailed out by the state in 2008.

London firms call on new Mayor to invest in the city

London First’s chief executive, Baroness Jo Valentine, said: “We expect the incoming Mayor to support measures that not only bring jobs and prosperity, but ensure that London is truly open for business.”

BBVA to open Representative Office in the Middle East

BBVA has obtained authorization from the Central Bank of UAE to open a Representative Office in Abu Dhabi to provide support for the bank’s large customers and institutional clients.

Santander and KBC to merge Polish subsidiaries

KBC chief executive Jan Vanhevel said the transaction was another major milestone in implementing the updated strategy the group agreed with the European Commission.

3 Big European Banks Post Losses

Burdened by their exposure to Greek government debt and other damaged assets, Royal Bank of Scotland, Crédit Agricole in France and Dexia, a French-Belgian bank, all reported quarterly losses.

Lloyds net loss surges to $4.4bn on exposure

A day after Royal Bank of Scotland (RBS) said its annual net losses had almost doubled, LBG reported that its loss after tax ballooned to £2.78 billion ($4.38bn) in 2011 from £320 million in 2010.

Europe's banks finding little appetite for Middle East debt

The institutions want to sell the debt to boost their balance sheets, but are finding little appetite for it among regional banks and other international lenders, which think new loan issues emerging locally offer better value.

HSBC to refocus on Asia as £14bn profit looms

The chief executive, Stuart Gulliver, presenting his first set of full-year results, is expected to impress the need for HSBC to concentrate on commercial banking in both Asia and Latin America if it is to continue to grow.

RBS loses £2bn and hands £785m in bonuses

The Royal Bank of Scotland has risked taxpayer fury as its bonus payments outstrip the size of its losses in 2011.

International trade set to drive UK economic growth

HSBC is playing its part in growing the UK economy, in 2011 UK exports rose 13% and over the same period our export related business grew 33%, within which trade finance lending underpinning exports grew 91%.

What's wrong with Britain's fund industry

"A lot of this is in the hands of the Financial Services Authority and the Investment Management Association," he says.

Top S'pore bank open to acquire Asia assets of EU banks

While European lenders looking to sell Asian assets in recent months have approached the bank, he says the pricing has not been attractive.

Santander brings in EBRD to seal Kredyt Bank

Shares in Kredyt Bank jumped as much as 6 percent after the Reuters report and were up 3.4 percent by 1450 GMT.

Nordea releases annual report

Return on equity was around 11 per cent for 2011. Capital adequacy has increased during the year, and the core tier 1 capital ratio is over 11 per cent. The solid financial development has been important for Nordea's ability to maintain a strong fun

Civil war breaks out at Royal Bank of Scotland

Current and former senior employees in GBM describe an organisation in turmoil, riven by power struggles even as managers are forced to fire thousands of staff.

Ken Livingstone sparks anger with 'hang bankers' speech

A spokesperson for Livingstone insisted it was simply a joke.

Spain moves to ease bank merger fears

Banks in Spain, which have been encouraged by new legislation to swallow weaker rivals, will not be railroaded into “unnatural mergers” that would risk frightening international investors and draining foreign capital from the sector, the offic

HSBC, Deutshe Bank among 114 European institutions under Moody’s downgrade radar

Moody's said tonight it was reviewing some 114 European banks and financial groups, including many of the top firms, for a possible ratings downgrade because of the eurozone debt crisis.

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