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CDPRO, Comuniq.EUBanking, EU

Comuniq.EU – Banking

by Keith Zahra The European Central Bank has told banks not to pay any dividend payments until at least January and urged them to be “extremely moderate” when setting…

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Business, Italy, NewsBanking, Italy

Italian banks’ lending to businesses jumps in June, deposits grow

Italian banks increased their lending to companies in June, as business resumed after a government-imposed national lockdown was gradually lifted, data showed on Monday. A monthly Bank of Italy report…

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Business, News, UKBanking, UK

Britain’s banks brace for $22 billion loan losses as outlook darkens

Britain's banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to bake tougher…

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Business, CD eNews, China, NewsBanking, HSBC

HSBC first-half profit plunges 65%, warns loan losses could hit $13 bln

HSBC Holdings PLC warned of rising bad debt charges and a falling core capital ratio after posting a higher-than-expected 65% tumble in first-half pre-tax profit as the coronavirus pandemic hit…

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Comuniq.EU, European Union, NewsBanking, EU, Financial Services

EU recovery plan will stimulate mergers between European banks – Santander

The European leaders' agreement on a massive stimulus plan for their coronavirus battered economies should help kick-start cross-border consolidation in Europe and complete the European banking union, Santander Chairman Ana Botin said. "What…

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Comuniq.EU, European Union, NewsBanking, EU

EU Banking Authority seeks way to enhance Bank recovery and resolution

The European Banking Authority has launched a discussion paper exploring ways on how to enhance the Bank Recovery and Resolution Directive (BRRD) framework on early intervention measures. The objective is…

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Business, News, SpainBanking, Spain

Spain’s banks look to make lockdown branch closures permanent

As Spain reopens after the COVID-19 crisis, its banking industry is seizing the opportunity to shrink its swollen branch network which has long been a drag on profitability, with just…

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Business, News, UAEBanking, NBD, UAE

Dubai’s largest bank Emirates NBD begins new round of job cuts

Emirates NBD, Dubai's largest bank, began cutting hundreds of jobs this week after the impact of the coronavirus crisis accelerated planned lay-offs, three sources said. Although the full scale of…

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Business, CD eNews, NewsBanking, HSBC

HSBC to resume cutting around 35,000 jobs

HSBC is resuming a massive redundancy plan it had put on ice after the coronavirus outbreak, and will cut 35,000 jobs over the medium term, a memo seen by Reuters…

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Business, News, UAEBanking, UAE

UAE banks risk rise in bad loans

United Arab Emirates banks are at risk from a spike in bad loans over the next one to two years as the oil-producing economy is hit by a "triple…

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Banking, Business, NewsBanking, Europe, Sanatander

Santander to appoint HSBC’s Simoes as regional head of Europe

Spain's Santander announced the appointment of Antonio Simoes, head of global private banking at HSBC, as its regional chief for Europe at a time when the euro zone's No. 2…

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Business, Coronavirus, Germany, NewsBanking, Coronavirus, Germany

Commerzbank swings to worse-than-expected Q1 loss as pandemic bites

Germany's Commerzbank said on Wednesday it swung to a loss in the first quarter, as the lender undergoes restructuring and dealt with the fallout from the coronavirus pandemic. The bank…

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Comuniq.EU, European Commission, European Union, NewsBanking, Europe, European Commission

EU Commission adopts banking package to facilitate lending to households and businesses in the EU

The Commission has today adopted a banking package to help facilitate bank lending to households and businesses throughout the European Union. The aim of this package is to ensure that…

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Malta, Malta Headline, NewsBanking, CoVid19, Malta

Malta: Banks say they have no details on how subsidised business loans will work

Maltese banks have not been provided details of how a government scheme to subsidise interest rates for businesses hit hard by the coronavirus pandemic will function, their association said on Saturday.…

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Business, Coronavirus, Malta, NewsBanking, Coronavirus, Malta

Maltese Banks announce initiatives to support clients during COVID-19 crisis

Major banks in Malta have over the past few days launched a number of initiatives to support their personal and business clients during these challenging times. International banking regulatory authorities…

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Banking, Coronavirus, NewsBanking, Coronavirus

Big banks brace for the coronavirus

Many of the City of London's biggest institutions are taking steps to combat the spread of the coronavirus. On Monday many of JPMorgan's UK-based staff are being temporarily moved…

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Banking, India, NewsBanking, India, yes bank

Founder of India’s fifth-biggest private sector bank arrested

The founder of Yes Bank, Rana Kapoor, was arrested on Sunday on allegations of money laundering, after being questioned for over 20 hours by Indian authorities. "He has been arrested…

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Banking, Italy, NewsBanking, Intesa Sanpaolo, Italy, UBI Banca

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 Roberto Gualtieri said Wednesday Intesa Sanpaolo's planned takeover…

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Banking, Business, Company News, News, UKBanking, RBS, UK

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 a new future following the taxpayer bailout of…

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Banking, Iran, Italy, NewsBanking, Iran, Italy

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 people in a delicate financial situation. Several European…

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Banking, Brexit, News, UKBanking, BREXIT, N26, UK

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 200,000 customer accounts. The lender has given customers…

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Business, Newsbank, Banking, HSBC, UK

HSBC UK staff morale low in view of job cuts

Morale of the staff working at HSBC (in the UK) is low after its boss was ousted and staff prepare for a wave of job cuts, according to an internal…

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Business, Italy, NewsBanking, Italy, unicredit

Italian bank UniCredit to lay off 6000 and close 450 branches

Italy's biggest bank UniCredit is to lay off 6000 staff in Italy and close 450 branches, it told unions on Monday. The payoffs and closures are contained in a 2019-2023…

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Banking, Business, Company News, Financial News, NewsBanking, Financial Services, Visa

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 round backed by Visa. Based in the U.K.,…

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Banking, Corporate Dispatch, Microsoft, NewsAZURE, Banking, cloud, desktop, lloyds, Microsoft, Technology

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 commitment to invest £3 billion in technology, the…

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Banking, CD eNews, Libya, NewsBanking, Libya, UK

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 in the UK remains under investigation after it…

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Banking, Cyber Security, News, UKBanking, cyber attack, UK

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 for them. Royal Bank of Scotland, Lloyds…

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Banking, China, NewsBanking, China, HSBC

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 pair of lions that guard its city-center headquarters.…

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Banking, China, NewsBanking, China

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. The People’s Bank of China is allowing commercial…

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Banking, News, UKBanking, UK

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 regulations after Brexit. Bailey will be one of…

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Banking, News, Switzerland, USABanking, HSBC, Switzerland, USA

HSBC Swiss unit to pay $192 million in US tax fine

The Swiss branch of HSBC's private bank has been fined almost CHF200 million by the US Department of Justice (DoJ) for having helped American clients evade tax between 2000 and 2010.…

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Banking, News, SwitzerlandBanking, Switzerland

Switzerland grants 18 more countries access to bank details

The Swiss parliament has approved the automatic exchange of bank data with 18 additional countries from 2021. However, Turkey failed to make the cut. On Tuesday, the Senate followed the…

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Banking, News, UKBanking, HSBC, UK

HSBC to bring in single overdraft rate of 40% for UK customers

HSBC is to bring in a single overdraft rate of 39.9% for UK customers from March 2020, as much as quadrupling the rate it charges some customers. However, the bank…

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Banking, Business, Company News, Italy, NewsBanking, Italy, unicredit

Italy’s UniCredit to axe 8,000 jobs

Italian bank UniCredit said Tuesday that it set to axe around 8,000 jobs and close around 500 branches in the next few years. The job losses will be concentrated in…

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Banking, Business, Company News, NewsBanking, HSBC

HSBC set to replace investment banking chief

HSBC is planning to replace the long-serving head of its investment bank ahead of a big restructuring that will result in large-scale job losses at the unit he has…

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Banking, Denmark, NewsBanking, Danske Bank, Denmark

Danish prosecutor charges Danske Bank for overcharging customers

Danske Bank said on Thursday it has been preliminary charged by the Danish prosecutor for overcharging customers for an investment product. Denmark’s financial watchdog reported Danske Bank to the police…

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Brexit, Europe Explained, NewsBanking, BREXIT, EU, European Central Bank

ECB says that EU banks are lagging in executing Brexit plans

European Union banks have put in place all the plans for Brexit but execution is lagging as lenders await the outcome of negotiations between Britain and the EU, European Central…

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Business, NewsBank of Valletta, Banking, Company News

Malta: Bank of Valletta appoints first ever foreign CEO

Ricky David Hunkin is to be appointed CEO of Bank of Valletta on January 1, succeeding Mario Mallia who is not seeking renewal of his term. The bank said that in his…

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Banking, Financial News, Italy, NewsBanking, Finance, Italy, Monte Paschi

Jail terms for 13 bankers over Monte Paschi scandal

Thirteen former bankers from Monte dei Paschi di Siena, Nomura and Deutsche Bank were sentenced to jail on Friday after a case that shook Italy’s establishment and fomented the rise…

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Banking, Business, ECB, Financial News, NewsBanking, ECB

Euro zone corporate lending growth plunges in Sept

Bank lending to euro zone companies plunged last month, suggesting that the bloc’s economic slowdown is finally slowing lending after a period of surprising resilience, data from the European Central…

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Banking, Financial News, News, UK£20, Banking, JMW Turner, sterling, Turner Contemporary Museum, UK

Bank of England unveils new £20 note

The new 20-pound note was unveiled at the Turner Contemporary Museum in Margate, Britain. The 20-pound note is Britain's most common, and most forged. Security features on the next £20…

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Banking, CD eNews, Malta, NewsBanking, HSBC, Malta

HSBC to close down seven branches in Malta

HSBC announced on Thursday it would be closing seven branches in Malta and combine another two into a new Qormi flagship it will be open. It also said it would…

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Banking, Environment, NewsBanking, Green Target Tool, World Resources Institute

World’s largest banks lagging in sustainable finance

Despite pressure from activists, investors and governments, the majority of world’s 50 largest banks have not made sustainable finance commitments to respond to the risks of climate change and continue…

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Banking, Financial News, New Zealand, NewsBanking, FMA, New Zealand

New Zealand announces plans to regulate conduct of banks, insurers

New Zealand announced that it plans to regulate the conduct of financial institutions with new measures including a ban on target-based sales incentives, following a review by regulators. The government…

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Banking, News, UK, United NationsBanking, Bob Wigley, UK Finance, United Nations, United Nations Environment Programme Finance Initiative

UK banks sign up to U.N.-backed responsible banking code

Britain’s banks will implement U.N.-backed “responsible banking” principles being launched next week that will influence lending and company behaviour, British banking trade body UK Finance said. The principles seek to…

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Business, NewsBanking

Thousands of jobs shed as global pressures on banking sector starts to leave its marks

Global investment banks are shedding tens of thousands of jobs as falling interest rates, weak trading volumes and the march of automation create a brutal summer for the sector. The…

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Banking, Croatia, ECB, NewsBanking, Croatia, ECB, Erste & Steiermärkische Bank, Hrvatska poštanska banka, OTP banka Hrvatska, Privredna banka Zagreb, Zagrebačka banka

ECB to test five Croatian banks

The European Central Bank said on Wednesday it would carry out a stress test of five Croatian banks, a preliminary step in Zagreb’s bid to join the euro zone. Zagrebačka…

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CD eNews, NewsBanking, Cybersecurity, North Korea

Widespread and sophisticated cyberattacks on banks and cryptocurrency exchanges funding N Korea missile tests – Report

North Korea is paying for its continued missile tests with “widespread and increasingly sophisticated” cyberattacks on banks and cryptocurrency exchanges, according to a new report to the U.N. Security Council,…

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Business, News, USABanking, Capital One, Corporate News, Hacking

US bank Capital One suffers massive data breach

Capital One, the US bank, said on Monday that it had suffered a massive data breach, reporting that an outside hacker obtained the personal data of more than 100m customers…

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Business, Malta, NewsBanking, GRTU, Joseph Muscat, Malta, Silvio Schembri

Industry’s banking concerns discussed in meeting between PM and GRTU

The Malta Chamber of SME’s (GRTU) stated that there is an unprecedented situation happening with regards to businesses and banking: clients find it difficult to understand how they can open a…

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Business, Malta, NewsBanking, BOV, Malta

Malta: Bank of Valletta warns about suspicious false SMS messages asking for banking information

Bank of Valletta, in a company statement, said that is aware that the general public is receiving messages (SMSes) saying that suspicious activity has been noted on their Internet Banking…

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Business, NewsBanking, Estonia, Financial News, Money Laundering, Swedbank

Swedbank fires CEO and financial director of Estonian operations following money laundering allegations

Swedbank has ousted the chief executive and finance director of its Estonian operations as part of its internal investigation into extensive money laundering allegations against Sweden’s oldest bank in the…

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Malta, NewsBanking, Corporate News, Correspondent Banking, ING Bank, Malta

Malta : ING to stop clearing US dollar transactions for BOV as of December

Bank of Valletta’s last correspondent bank for US dollars transactions is pulling the plug on its relationship with the Maltese bank come December. ING will stop clearing US dollar transactions…

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CD eNews, NewsBanking, European Banking Authority, FT, Jose Manuel Campa

New powers not enough to stem ‘dirty money’ flowing into EU banking system – EBA CEO

New powers given to Europe’s banking watchdog are not enough to stem the tide of dirty money sweeping through the bloc that has been revealed by recent scandals, the head…

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Banking, CD, EU Affairs, EU Commission, Euro Zone, Europe Explained, European Commission, European Union, News, Pilatus BankBanking, European Commission, Money Laundering, Pilatus

EU reviewing past money-laundering cases at banks in the EU

The European Commission is reviewing past money-laundering cases at EU banks to assess what went wrong and decide possible tweaks to rules. Under the plan, the European Commission is assessing…

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