Lloyds FX chief leaves bank - sources

2014-04-15 15:00

Lloyds Bank's global head of foreign exchange spot trading has quit, citing reasons unrelated to the global currency market manipulation probe, sources say.

Libor case: Barclays settles second lawsuit

2014-04-11 15:02

Barclays has settled its second lawsuit in a week that alleged the British bank had mis-sold products that were tied to Libor benchmark interest rates.

Mexican oil exec nabbed for US bank fraud

2014-03-25 07:30

A judge has placed the head of a Mexican oil services firm under house arrest on suspicion that his firm defrauded Citigroup in a multi-million dollar case.

Visa, MasterCard resume services in Russia

2014-03-23 19:35

Visa and MasterCard have resumed services for payment transactions for clients at Russia's SMP bank, whose main shareholders were affected by US sanctions.

Major shake-up at Bank of England

2014-03-18 21:37

Britain has shaken up the Bank of England, breaking the all-male grip at the top.

Barclays to cut thousands of jobs

2014-03-14 10:11

Barclays is reportedly planning to axe thousands of jobs in a radical shakeup of its investment banking division and may replace top managers.

Top laymen on Vatican economic body

2014-03-09 13:44

Pope Francis has named top laymen from the worlds of finance and economics to a new Vatican Council for the Economy.

Bank of Cyprus 2013 loss narrows

2014-02-28 19:45

Bank of Cyprus, the island's largest lender, announced a 2013 net loss of 2.04bn, an improvement on the previous year's €2.21bn loss.

Deutsche Bank may replace scandal-hit CEO

2014-02-19 19:45

Deutsche Bank is considering possibly replacing co-chief executive Anshu Jain if he is implicated in an ongoing probe into currency manipulation, a report says.

US gets tough on international banks

2014-02-19 16:06

The US central bank has adopted new regulations on international financial groups that could force some to set aside billions of dollars in capital.

Ramos: Barclays Africa remains cautious

2014-02-12 17:40

Barclays Africa Group CEO Maria Ramos says the bank will continue to be careful who it does business with in its chase for a leading market position.

ECB to gain sweeping powers over banks

2014-02-07 17:55

The European Central Bank will attain significant powers over the eurozone's commercial banks once it becomes their supervisor later this year.

Banks still reeling from Cyprus crisis

2014-02-04 14:01

Banks in Cyprus are struggling with non-performing loans that make up nearly half their lending and are hampering efforts to finance a cash-starved economy.

Zim to criminalise negligent bankers

2014-01-29 19:08

New measures by the Reserve Bank of Zimbabwe will criminalise directors of banking institutions for acts fraud and negligence.

Indian banks seek refuge in home loans

2014-01-22 14:42

With India's economic flu hitting corporate lending, banks have cranked up efforts to tap into the country's housing loan demand.

EU to share bank closure costs much later

2013-12-15 17:15

The cost of closing down a eurozone bank will initially be borne almost fully by its home country, according to an EU proposal.

E Africa launches cross-border payment system

2013-12-11 15:26

Five East African countries have launched an integrated real-time cross-border payments system designed to remove bottlenecks.

US moves to curb risky bank bets

2013-12-11 09:45

US regulators have adopted a rule to prevent banks from behaving like hedge funds, called the Volcker rule after former Federal Reserve chairperson Paul Volcker.

US set to adopt Volcker rule to curb bank trading

2013-12-10 13:01

US regulators are set to approve a rule to rein in risky trading by banks, a crucial part of their efforts to reform Wall Street.

Banks trim risk but fail to raise provisions

2013-12-08 11:50

Most of Europe's big banks have shed risky assets in the quarter to September, but they have yet to take extra provisions against doubtful loans.

Zim keeping a watch on bank charges

2013-11-29 09:06

Banks must desist from unwarranted increases in bank charges and interest rates, which will have an adverse impact on the economy, urges the reserve bank.

Japan banks post huge profit gains

2013-11-14 14:32

Japan's top three banks have showed big gains in first-half profit and say strong earnings are set to continue.

Judge orders arrest of Spanish bankers

2013-11-06 17:59

A Spanish court has ordered the arrest of five bankers in a fraud investigation into failed bank CAM, a casualty of the near-collapse of Spain's finance sector.

Co-operative bank to shut 50 branches

2013-11-04 20:24

The Co-operative Bank has announced plans to close 50 of its branches and axe a number of jobs in a rescue plan that hands bond investors majority control.

Italian banks' cutback plans too modest

2013-11-03 17:41

Italy's hard-pressed banks are slashing jobs and closing branches, but the cuts are far too modest to achieve the profitability gains they need, a report states.


JPMorgan earnings fall 19%

2014-04-11 15:24

JPMorgan Chase has reported lower earnings due to a drop in its mortgage business as the US banking giant seeks to turn the corner after costly legal settlements.

Bad debt hits Capitec growth

2014-03-26 11:04

An increase of 50% in the provision for bad debt as clients battle to repay loans has impacted heavily on Capitec Bank’s annual earnings.

Putin ally: US sanctions have backfired

2014-03-24 07:48

An ally of Russian President Vladimir Putin who heads a bank that was hit by US sanctions has suggested the move has backfired by helping him win new clients.

Major Moroccan banks plan Islamic offshoots

2014-03-23 18:49

Two of Morocco's biggest banks are preparing to launch Islamic subsidiaries as the Moroccan parliament discusses a bill regulating Islamic banks, sources say.

Banks to be hit with Microsoft costs

2014-03-14 19:52

Banks around the world will miss a deadline to upgrade outdated software for ATMs and face additional costs to Microsoft to keep them secure.

Bankers behaving badly face bonus clawback

2014-03-13 15:28

Misbehaving bankers and their bosses will have to hand back bonuses up to six years after they pocket them under a rule the Bank of England is proposing.

Investors frustrated by rising bank bonuses

2014-03-07 19:31

Banks are failing to rein in excessive payouts for staff below the boardroom level despite a public backlash against a bonus culture, say leading investors.

RBS to shed up to 30 000 jobs

2014-02-21 18:32

Royal Bank of Scotland is to shrink its investment banking and international operations, which could see the group cut its 120 000 workforce, sources say.

RBS suspends FX trader

2014-02-19 19:30

The Royal Bank of Scotland has suspended a senior currency trader in London, bringing to three the number of traders suspended by the bank.

US to allow banks, pot shops to do business

2014-02-16 12:38

The government will allow banks to do business with licensed marijuana companies, a US Justice Department official says.

Europe faces policy crossroads

2014-02-09 20:15

The euro zone faces electoral and economic crosswinds which could push it to break policy taboos while challenging its ability to do so.

Morgan Stanley to pay $1.25bn over charges

2014-02-05 12:38

Morgan Stanley has agreed to pay $1.25bn to settle charges that it misled investors on the sale of mortgage-backed securities ahead of the US housing bust.

Merrill Lynch purchase hits Julius Baer

2014-02-03 15:10

Julius Baer says its net profit fell by 30% in 2013 owing to costs related to its takeover of Merrill Lynch's global wealth management business.

FNB hikes prime rate to 9%

2014-01-29 17:23

First National Bank was the first of the big four banks to announce that it is increasing its prime lending rate to 9.0% following a surprise rate hike by the Reserve Bank.

ING sells South Korean unit for €1.27bn

2013-12-24 12:22

Dutch banker ING has completed the sale of its South Korean insurance arm ING Life Korea to private equity firm MBK partners in a deal worth around €1.27bn.

EU eases rule capping bankers' bonuses

2013-12-13 18:15

Bankers in the European Union earning over €500 000 a year could be excluded from a cap on their bonuses if they are not major risk takers.

Santander to buy stake in Bank of Shanghai

2013-12-11 10:00

Spain's biggest bank Santander will buy 8% of the Bank of Shanghai for €470m, becoming its second-biggest shareholder.

Swiss banks agree to US tax deal

2013-12-10 19:05

The first Swiss banks have signalled their readiness to work with the US in a crackdown on wealthy Americans evading taxes and more are expected to follow suit.

Stocks edge higher, euro scales heights

2013-12-10 10:35

Stocks have mostly edged up in Asian trade, while tighter money market conditions in the euro zone helped the euro climb to a five-year peak against the yen.

Bank targets Capitec customers

2013-12-02 16:57

Barclays Africa Group, previously called Absa, plans to spend R1.2bn to win back "hundreds of thousands of customers" lost to Capitec Bank.

Wallet nightmare: Which bank scores best

2013-11-19 07:14

How would your bank react if you suddenly find yourself without your bank cards? Adriaan Kruger canvassed a few banks to find out.

US seeks $864m from Bank of America

2013-11-10 11:10

The US government has urged the Bank of America pay $863m in damages after a jury found it liable for fraud.

British banks face new bill

2013-11-04 20:34

HSBC has set aside $149m to review how it advised about 200 000 UK customers on investing a lump sum of money, signalling another potential costly mishap for lenders.

Absa moves to be Africa’s ‘go-to’ bank

2013-11-04 18:04

Absa bank's new Wealth and Investment Management portfolio paves the way for a powerful pan-African franchise, says CEO Nomkhita Nqweni.

Banks hope to tempt new customers

2013-11-03 12:30

To compete against online-only rivals and to attract a new generation of customers to branches, banks are installing sleek interiors and hi-tech gadgetry.

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