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

Mis-selling scandal hits National Australia Bank

The owner of the Yorkshire and Clydesdale banks is expected to bump up its provisions for mis-sold financial products after a surge in complaints at the end of last year.

HSBC says no plans to spin off UK retail bank

HSBC's boss said Europe's biggest bank had no plans to spin off and separately list its UK retail banking arm to meet new regulatory requirements.

BNB Permits Merger of Two Bulgarian Banks

The Bulgarian National Bank issued a permission for the merger of First Investment Bank and Unionbank.

Crédit Agricole Returns to Profit

The fourth quarter includes a 132 million euros of net loss on discontinued or held-for-sale operations related to the planned sale of the Bulgarian subsidiary and CACF's Nordic entities, according to the company.

Co-op Bank campaigner highlights concerns over Britannia 'rescue' evidence

Mark Taber highlighted the different versions of events in a letter to Martin Wheatley, chief executive of the Financial Conduct Authority

Return to profit by Lloyds may prompt second share sale

Lloyds Bank has said it returned to profit in 2013.

Greece's Alpha Bank in talks to buy Citi's local retail ops-paper

Citibank, which started shipping and corporate lending operations in Greece in 1964 and expanded into retail banking in the 1980s, runs a network of 21 branches across the country.

Investec looks to offload Kensington

Investec is looking at a potential sale of its UK intermediary mortgage arm Kensington Mortgages after receiving “certain expressions of interest” in the business.

Danske Bank to close 9,000 customer accounts today

Thousands of customers of Danske Bank are reminded they have just three days to withdraw their money here.

Customers flock to the Swedish bank that does not pay bonuses

Disenchanted bank customers are switching to Swedish bank Handelsbanken in their droves in support of the bank’s refusal to pay out bonuses to staff.

Germany's Lautenschlaeger joins France's Nouy at eurozone bank watchdog

The European Parliament approved Wednesday the nomination of Germany's Sabine Lautenschlaeger as deputy to Frenchwoman Daniele Nouy in supervising the eurozone's banking system.

Banca Generali Jan net inflows at 226 mln euros

Italian asset manager Banca Generali said on Wednesday its total net inflows in January amounted to 226 million euros, up 60 percent on the average of the last six months.

Commerzbank says sells non-performing Spanish mortgages

Since the beginning of 2013, the bank has halved the volume of non-performing loans in its Spanish commercial real estate portfolio from about 2 billion to roughly 1 billion.

Italian bank Veneto Banca in no hurry to seek merger: paper

The Italian banking sector has struggled under the weight of increasing bad loans during a two-year recession and four of its lenders plan capital hikes this year.

Lloyds' PPI mis-selling bill approaches £10bn

Lloyds Bank says it has set an extra £1.8bn aside for payouts to victims of PPI mis-selling, bringing total provisions to £9.83bn

Italy’s biggest bank could pocket €3.5bn from BoI’s stake sale

That means that Intesa and UniCredit, currently the central bank’s largest shareholders with stakes of 42 percent and 22 percent respectively, will have to sell the bulk of their stakes on the market or to the central bank — which can buy them

Intesa Sanpaolo plans to set up internal 'bad bank

Intesa Sanpaolo is working on plans to set up an internal bad bank to house a chunk of its 55 billion euros of gross non-performing loans ahead of stress tests by the European Central Bank

Nordea's profit in Estonia grew by 15% in 2013

The income of Nordea Estonia, part of a leading European financial group, grew by 8% in 12 months; the profits increased by 15%, the company announced on Wednesday, cites LETA.

Santander Profit Doubles on Lower Charges for Bad Loans

Banco Santander SA, Spain’s biggest bank, said fourth-quarter profit more than doubled as it made fewer provisions for bad loans and income increased in the U.K.

KBC Denies Report It is Considering Leaving Hungary

Austria's Raiffeisen Bank International AG (RBI.VI) decided earlier in January against selling its unprofitable Hungarian unit Raiffeisen Bank Zrt after local media reported that the government had been in talks with RBI about buying its local arm

Retail Banking