Crooked consumers con vendors out of millions

2014-08-01 20:45

Consumers conning vendors out of millions by manipulating the debit order system has become a major problem according to experts.

Britain's RBS restricts lending in Russia

2014-08-01 14:27

Part-nationalised British lender Royal Bank of Scotland has placed restrictions on its lending in Russia following developments in Ukraine.

Trading suspended in stricken Portugese bank

2014-07-31 10:30

Lisbon stock market authorities have suspended trading in Banco Espirito Santo after the stricken Portuguese bank announced historic losses.

UBS pays €300m to end tax row

2014-07-29 11:15

Switzerland's biggest bank UBS has settled a major tax evasion case in Germany and has agreed to pay a huge penalty.

Commerzbank plans more cost-cutting

2014-07-28 16:33

Commerzbank, Germany's second-largest bank, is planning further cost-cutting measures that could lead it to axe several hundred jobs.

Ireland to approve hedge funds for lending

2014-07-28 09:44

Ireland, one of Europe's biggest hubs for funds, will allow hedge funds based in the country to lend to companies under new rules drawn up by the central bank.

Zuma: Brics bank will boost SA

2014-07-24 20:02

The establishment of the Brics bloc's New Development Bank is a forward step for South Africa and the continent, says President Jacob Zuma.

ECB website hacked but no serious damage done

2014-07-24 15:23

The European Central Bank's website has been hacked and some email addresses and other contact information stolen, but no market-sensitive data was affected.

EU targets state-owned Russian banks

2014-07-24 14:15

The EU will target state-owned Russian banks and the ability to finance Moscow's faltering economy in its most serious sanctions so far over the Ukraine crisis.

UK upholds fine on 'king of mining' banker

2014-07-22 13:30

Britain's financial watchdog has upheld a $768 000 fine on a former JPMorgan banker - once dubbed the "king of mining" - for market abuse.

Fitch affirms SA bank ratings

2014-07-18 07:36

The long-term issuer default ratings of South Africa's major banks have been affirmed by Fitch Ratings agency.

ECB will disclose bank stress data

2014-07-17 18:45

The European Central Bank has laid out plans to publish an unprecedented trove of data on individual banks when it completes a landmark health check in October.

Brics move closer to deal on new bank - sources

2014-07-15 19:52

The Brics emerging market nations moved closer to an agreement on where to base a joint development bank aimed, say officials close to the talks.

Citigroup earnings plunge on legal costs

2014-07-14 15:16

Citigroup has reported a drop in second-quarter earnings due to a $3.8bn charge for a much-anticipated settlement of US litigation.

Grumbling foreign banks bend to US rules

2014-07-14 09:09

Financiers may grumble that Washington is acting like an imperial power in punishing foreign banks, but in the end they are unlikely to kick against dollar muscle.

Zim microfinance delinquency levels jump

2014-07-11 12:40

Zimbabwe's Reserve Bank says delinquency levels in the microfinance sector have worsened to 27.14% because of multiple borrowings on top of high interest rates.

Russia sets new bank rules for state firms

2014-07-10 11:00

Russian state companies can only have accounts at banks with capital of no less than $296m or at those with ties to the government, a top official says.

UK watchdog launches competition review

2014-07-09 12:45

Britain's financial watchdog is launching a review of competition in wholesale financial markets to check if they operate effectively to aid the economy.

Five new banks challenge UK's big lenders

2014-07-08 11:37

Britain's regulators have given the green light to five new banks since easing rules a year ago for new entrants to challenge high street lenders.

African Bank to ditch Ellerines

2014-07-07 12:27

The share price of African Bank, which has seen its bad loans spiral, has soared more than 15% on news that it is in talks to sell its loss-making Ellerines unit.

FNB blunder: All looks good now, says CEO

2014-07-06 13:04

First National Bank boss Jacques Celliers says everything seems to be in order following duplicate transactions on some customers’ accounts.

Islamic bank rebrands to go mainstream

2014-07-02 11:52

Two Islamic banks have changed their names in an attempt to move well beyond a relatively small group of customers and to establish themselves globally.

Clients' assets are safe - BNP CEO

2014-07-01 08:43

BNP Paribas boss Jean-Laurent Bonnafe has assured retail clients that the $9bn US settlement over sanctions violations will not have an impact on them.

World Bank cuts Kenya growth forecast

2014-06-26 10:45

Kenya will grow slower than expected in 2014, due to poor rains and growing insecurity in east Africa's biggest economy.

China's bank lending grows in May

2014-06-12 14:30

China's bank lending has increased in May from the previous month as the government activates a "mini-stimulus" to spur economic growth.


Ecobank pre-tax profit rises

2014-08-01 17:00

Pan-African banking group Ecobank says its half year to June pre-tax profit has risen compared to the same period last year.

BNP Paribas posts loss after US fine

2014-07-31 16:09

BNP Paribas bank has revealed a net loss for the second quarter, holed by charges for a record US fine for sanctions busting.

Barclays first half net profit soars

2014-07-30 09:31

British lender Barclays says first half net profits have surged despite a poor performance at its investment banking division.

Investor sues over Barclays 'dark pool'

2014-07-29 10:24

A US investor is suing Barclays and current and former bosses over losses suffered after New York's attorney general accused the bank of lying to customers.

China shares close highest since December

2014-07-28 11:00

China shares have closed at their highest since December after a Reuters report says a major bank seeks more private investors.

Ramaphosa: SA caught with its pants down

2014-07-25 05:00

SA ran out of energy and financial institutions should help government fund a nuclear build programme to rectify this, says Deputy President Cyril Ramaphosa.

France defends UBS guarantee demand

2014-07-24 17:51

A billion euro guarantee payment demanded by French judges of Swiss bank UBS reflects the size of the fine it could pay if found guilty.

No CEO succession plans - StanChart

2014-07-24 14:30

Standard Chartered has rejected reports it had stepped up succession plans for its chair and chief executive, who are under growing pressure from shareholders.

BoE extends leverage ratio consultation

2014-07-22 20:00

The Bank of England will consult with banks for four weeks longer than planned about how it should set leverage ratios.

President ordered BES guarantee - newspaper

2014-07-20 14:24

Angola's president ordered the state to guarantees troubled loans belonging to the Angolan unit of Portugal's Banco Espirito Santo, reports a newspaper.

Nene: No China dominance

2014-07-18 05:00

China will not dominate the new Brics bank just because its headquarters are in Shanghai, says Finance Minister Nhlanhla Nene.

Brics powers create own bank

2014-07-15 20:44

The Bricks group of emerging powers have launched a $50bn development bank during a meeting in Brazil.

Global watchdog tells banks to clean up

2014-07-15 15:21

The world's top financial regulator has urged deep-rooted change to how currency benchmarks are set, encouraging market players to tighten up their governance.

Save money with affordable account

2014-07-14 10:41

FNB's Easy Account keeps banking costs to a minimum while offering the banking essentials without attracting more fees for each transaction.

Bulgaria to strip bank of licence

2014-07-11 15:58

Bulgaria will strip Corporate Commercial Bank of its licence, transfer its assets and liabilities to a unit of the lender and alert prosecutors of malpractice.

Commerzbank may pay $600-$800m US fine

2014-07-11 08:51

Germany's second-biggest bank Commerzbank is expected to pay $600m-$800m to resolve investigations into its dealings with Iran under US sanctions, say sources.

New chief for scandal-hit Vatican Bank

2014-07-09 15:30

The Vatican has named a French businessman to head up its scandal-plagued bank as part of a radical overhaul of the Holy See's economic framework.

Public hearings on DBSA bill to begin

2014-07-08 20:00

Parliament is set to hold public hearings on the bill that seeks to extend the mandate of the Development Bank of Southern Africa across the continent.

Online banking threatens UK branch closures

2014-07-08 09:15

Britons are using internet and mobile banking for transactions worth nearly £1bn a day and branch use is falling sharply.

3 saving accounts to consider

2014-07-07 05:00

When people begin to save, the most likely place they’ll think of stashing their money is in the bank, but which type of account is best?

Zim banks profit from rate cap removal

2014-07-03 08:45

Zimbabwean banks recorded significant first-quarter profit growth after the central bank removed the interest rate cap that had hurt profitability in 2013.

Investment banks jockey for Samsung bonanza

2014-07-02 09:15

Investment bankers are jostling to win plum roles from the founding Lee family of Samsung Group, South Korea's top fee-payer.

Standard Chartered warns on profits

2014-06-26 14:24

Standard Chartered has warned profits would fall in 2014 for the second year in a row after first-half earnings dropped by a fifth.

Zimbabwe banks seek 'Big Daddy' investors

2014-06-25 15:03

A series of Zimbabwean-owned banks are struggling to stay above water as loan defaults grow, forcing lenders to turn to foreign investors.

UK rejects EU rules on currency rigging

2014-06-12 10:00

British finance minister George Osborne will reject European Union plans to outlaw currency market manipulation and instead set out his own proposals.

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