UK banks face break-up threat

2014-07-18 10:55

Britain's big banks could be broken up, after the country's new competition watchdog says it plans to launch an 18-month investigation.

Church of England severs ties with Wonga

2014-07-11 07:58

The Church of England has ended its association with high-interest online lender Wonga that came under scrutiny for sending customers bogus letters.

Vatican bank to restructure

2014-07-08 10:25

The Vatican bank will soon hive off its investment activities and dedicate itself mostly to payment services for the Roman Catholic Church, sources say.

We have ample funding for US fine - BNP

2014-07-01 09:57

BNP Paribas executives say the bank has ample funding to back the almost $9bn fine and penalties it must pay after pleading guilty to criminal charges.

Run on Bulgaria bank causes panic

2014-06-30 12:11

Dozens of depositors have withdrawn savings from Bulgaria's third biggest bank despite assurances from the government and the European Union.

Bulgaria arrests 3 more over bank run

2014-06-29 15:30

Three more people have been arrested in Bulgaria on suspicion of plotting to destabilise the country's banking system.

S&P downgrades four SA banks

2014-06-19 06:40

Standard & Poor's has lowered the ratings of four big South African banks, following a similar rating action on the country's long-term foreign currency rating.

African Bank plans turnaround

2014-05-11 15:00

The head of African Bank Leon Kirkinis says he has a recovery plan for the financial institution, following multi-billion rand losses.

Barclays to wield axe in a major shake-up

2014-05-06 16:45

Scandal-hit Barclays bank has revealed that first-quarter profit almost halved at its embattled investment banking arm, where the group is set to axe jobs.

Eurozone banks face toughest test yet

2014-04-27 17:23

Deflation fears, emerging markets turmoil and a determination to avoid past mistakes mean European regulators are likely to set the toughest tests yet for banks.

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.


Brics set up $100bn bank to break Western grip

2014-07-16 07:46

Leaders of the Brics nations have launched a $100bn bank and a currency reserve pool in a step towards reshaping the Western-dominated global financial system.

Want euros in London? Don't ask your bank

2014-07-08 11:45

Surveys show consumers tend to seek travel money from bureau de change booths in preference to banks because the rates are better.

Aus bank chief sorry for financial scandal

2014-07-03 10:53

The head of Commonwealth Bank, which is Australia's biggest bank, says he was "truly sorry" for a major scandal in which thousands lost their life savings.

Bulgaria's bank crisis eases

2014-06-30 16:01

Bulgaria's banking crisis has eased with fewer depositors queueing to withdraw savings after European Commission gave Sofia the green light.

US to unveil record $9bn fine for BNP

2014-06-30 07:42

The US Justice Department is expected to announce a settlement with BNP Paribas involving a record fine of nearly $9bn over alleged US sanctions violations.

ECB will regulate units of Russian banks

2014-06-27 19:48

The European Central Bank will supervise and run health checks on the Austrian arms of Russia's two largest banks.

77 000 banks to share tax info with US

2014-06-02 18:06

More than 77 000 foreign banks have agreed to share information about US account holders as part of a crackdown on offshore tax evasion.

HSBC bank net profit slides

2014-05-07 11:56

Bank giant HSBC's net profit has fallen in the first quarter as lower revenues offset cost cutting but bad debt charges also dropped.

Goldman bucks international Russia trend

2014-05-06 13:15

US bank Goldman Sachs has invested $100m in a Russian real estate firm, bucking the trend of international investors draining money from the country.

Get free petrol from your bank

2014-04-27 12:04

A quick survey of the large retail banks shows that motorists have to date received more than R300m worth of free petrol.

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.

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