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Banks

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

August 6, 2020 | File Under: , , , , , , , ,

“All five UK banks have under-performed, falling by between 42% and 55% this year compared to a 36% fall in the European banking index .SX7P.” – by Iain Withers and  Lawrence White

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Italy bank showdown looms in test for European consolidation (Reuters)

July 1, 2020 | File Under: , , ,

“As many bankers fled Italy’s financial capital for second homes in the mountains or lakes at the start of a coronavirus lockdown in March, Victor Massiah rushed instead to rent a house within walking distance of UBI Banca’s Milan offices.” – by Andrea Mandala, Valentina Za and Pamela Barbaglia

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ECB redoubles campaign for banking mergers (The Irish Times)

July 1, 2020 | File Under: , , ,

“The European Central Bank (ECB) has redoubled its efforts to encourage mergers and acquisitions in the euro zone banking sector by seeking to tackle market myths and launching a public consultation on its approach to consolidation.” – by Joe Brennan ECB Public Consultation Announcement here.

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The Appeal Of Investing In Banks Is Very Strong (The Corner)

June 23, 2020 | File Under: , , , ,

“If we assume there will be no break-up of the euro, and that banks will not need significant capital hikes, the appetite for investment is very strong. Average revaluation expectations are close to 100% within a 1-2 year period.” – by Ofelia Marín-Lozano

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Italy’s Del Vecchio asks ECB to allow bigger Mediobanca stake (Reuters)

June 1, 2020 | File Under: , , ,

“Del Vecchio’s holding company Delfin said it had filed the request to increase its Mediobanca holding above 10% and up to 20% with the Bank of Italy on May 29, adding that the authorisation process usually takes up to 60 days.” – by Claudia Cristoferi

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Libor Transition Plans Could Take Hit From COVID-19 Turmoil (Law 360)

March 18, 2020 | File Under: , ,

“But depending on how much additional stress the pandemic puts on the financial system in the next two quarters, Chorazak said banking regulators could feel compelled to dial back their expectations for planning progress.” – by Jon Hill

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Europe: Did the banks cry wolf on negative rates? (Euromoney)

February 4, 2020 | File Under: , , , , , , , ,

“As the howls of anguish at negative interest rates reach a crescendo, central bankers and prominent economists are still convinced that Europe’s financial sector would be even worse off were base rates above zero.” – by Dominic O’Neill

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Largest US banks double profits in past decade (FT)

January 20, 2020 | File Under: , ,

“The past decade has been kind to America’s biggest banks.” – Rob Armstrong and Laura Noonan

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Nordea Culls Securities From Markets Unit Amid Negative Rates (Bloomberg)

November 4, 2019 | File Under: , , ,

“As long-term negative interest rates reshape life in the Nordic region, its biggest bank is trying to reinvent one of its most important business areas.” – by Frances Schwartzkopff and Rafaela Lindeberg

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German banks start merger talks to create €260bn giant (FT)

October 9, 2019 | File Under: , , , ,

“Deal between Helaba and Deka could spark future consolidation.”- by Olaf Storbeck

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