Band Tom Sims, Lawrence White and John O’Donnell FRANKFURT, February 9 (Reuters) – Amid fears of a Russian invasion of Ukraine, Italy’s UniCredit has backed away from a possible acquisition in Russia and Austria’s Raiffeisen Bank International has set aside risk provisions for possible sanctions against Russia. What banks inRead More →
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A Ukrainian Armed Forces tank is seen during military exercises at a training ground in Dnipropetrovsk region, Ukraine, February 8, 2022. Ukrainian Armed Forces General Staff/via REUTERS Join now for FREE unlimited access to Reuters.com Register FRANKFURT, Feb 9 (Reuters) – Amid fears of a Russian invasion of Ukraine, Italy’sRead More →
The European Central Bank is warning banks against releasing loan loss provisions early and wants to ensure that the assumptions underlying existing provisions prove to be correct before further releases. Banks added provisions – funds set aside to cover future non-performing loans – at the start of the COVID-19 pandemicRead More →
The European Central Bank wants to ensure that credit flows into the European economy to support its recovery as the pandemic continues. Banks cash in. Eurozone banks make money through an ECB program that essentially remunerates them for lending, increasing their income, and helping to offset some of the costsRead More →
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People are protesting plans by BBVA, the country’s second largest bank, to cut back its banking staff in its domestic market in Madrid, Spain on June 2, 2021. The sign on the t-shirt reads “No to the ERE (workforce adjustment plan) in BBVA “. Register now for FREE and unlimitedRead More →
The last time European banks attempted to build a payments group that could take on the US giants that dominate the industry, they failed miserably. But when the Monnet Project collapsed in 2011, no one was talking about the commercial threat from US tech companies; and EU politicians hadn’t justRead More →
The loans were given to Pepper in January 2018, with an initial 30-month contract, extended until October 30, 2020. Pepper manages 850 million euros in defaulted and guaranteed mortgage loans with an average delay of more than seven years. In 2019 alone, Pepper solved 22.3% of that book, a resultRead More →
People wearing face masks walk in front of a large euro sign in Frankfurt Main, western Germany, as the headquarters of the European Central Bank (ECB) can be seen behind -plan on April 24, 2020. Yann Schreiber | Getty Images Question marks persist for major European banks as they enterRead More →
European banks are heading for second quarter results after suffering near universal drops in key capital levels, threatening their ability to lend, while most have also seen their liquidity capacity to meet their financial obligations s’ weaken. S&P Global Market Intelligence research looked at the Tier 1 capital and liquidityRead More →
LONDON / MILAN / MADRID (Reuters) – European banks are expected to set aside billions for potential loan losses as well as taking profits from the coronavirus crisis when they start reporting results in the next two weeks. FILE PHOTO: The Deutsche Bank logo is pictured on a company’s officeRead More →
A maxim often repeated in the banking industry is that you cannot “cut to the glory”. Hindered by the long-term extension of negative rates by the European Central Bank, slowing economic growth, Brexit and burgeoning regulatory requirements, lenders from Germany, UK, France, Spain and Switzerland have collectively announced more thanRead More →