LONDON – European banks are bolstering their capital by canceling or delaying dividend payments, worrying about their ability to absorb a possible rush of bad debts as households and businesses are hit by the coronavirus pandemic. On Tuesday evening, the UK’s four largest banks in terms of assets said theyRead More →
According to a study by S&P Global Market Intelligence, many major European banks entered the coronavirus crisis with their liquidity situation worsening, even as the European Central Bank resorted to paying banks to maintain liquidity. The Italian Banca Monte dei Paschi di Siena SpA, the British Standard Chartered PLC andRead More →
More than a decade after the financial crisis, European banks are facing a major test of their resilience. This week, growing fears about the coronavirus pandemic and an oil price war caused the market to sell off. Businesses have spent a decade gorging themselves on cheap debt in an environmentRead More →
From ringing cancellation to remote working schemes, stock exchanges and banks across Europe are taking a variety of measures to ensure business continues during the novel coronavirus crisis. The outbreak, which the World Health Organization has called a pandemic, has prompted banks to start testing work-from-home and remote programs forRead More →
According to EURACTIV, an official document titled Component of a global industrial strategy has been published, which describes the main areas of interest for the development of EU industries. In the leaked report, and regarding 6G, reference is made to a “strategic European partnership” which will involve research and innovationRead More →
Coronavirus-driven base rate cuts are expected to squeeze European banks’ net interest margins and push profit targets out of reach, while lenders with large branch networks, including those in Italy, are likely to be disproportionately affected by COVID-19, analysts say. Central banks slashed policy rates and European stocks tumbled afterRead More →