Banking
Intesa Sanpaolo bid to take over rival UBI Banca
Italian bank Intesa Sanpaolo has launched a bid to take over its rival, UBI Banca for 4.9 billion Euros. Italian Economy Minister…
Royal Bank of Scotland (RBS) to change its name
Royal Bank of Scotland (RBS) says it is to change its name to NatWest Group later this year as it commits to…
Italian banks closing Iranian citizens’ accounts over US sanctions
Several Italian banks have closed or imposed restrictions on accounts held by Iranian citizens citing US sanctions against Iran and putting some…
German digital bank N26 pulls out of UK, blames Brexit
The German digital bank N26 is has blamed Brexit for its decision to pull out of the UK and close more than…
Visa backs payments start-up that powers popular fintech apps like Monzo and Revolut
Financial technology start-up Currencycloud, which powers cross-border payments for a number of popular finance apps, has raised $80 million in a funding…
Lloyds Banking Group and Microsoft form partnership to accelerate bank’s digital transformation strategy
Lloyds Banking Group (LBG) has announced a strategic partnership with Microsoft focused on accelerating LBG’s digital transformation. As part of the LBG’s…
Financial institution failed to raise alarm over huge write-down of frozen Libyan assets
Abu Dhabi’s The National reports that a financial institution responsible for a huge write-down in the value of Libyan frozen assets held…
Britain’s biggest high street banks affected by cyber-attack
Britain's biggest high street banks have been left unable to process foreign currency orders following the cyber-attack on Travelex, which provides services…
HSBC kicks off year with Hong Kong branches closed, vandalized
HSBC is being drawn into Hong Kong’s political turmoil with protesters attacking some of its branches and graffiti daubed on the famous…
Money pumped into China’s economy in attempt to fight slowdown
China’s central bank has acted to pump more liquidity into the country’s economy in an attempt to prevent growth slowing in 2020.…
Next Bank of England governor looks to ease rules after Brexit
Andrew Bailey, named on Friday as the next governor of the Bank of England, has signaled a readiness to diverge from EU…
BCR sells historic palace in downtown Bucharest
Romanian lender BCR announced that it completed the sale of the historic Oscar Maugsch Palace in Bucharest’s Universitatii Square to an investment…