banking

HSBC reports 62-per-cent fall in annual profit, blames one-off costs

Banking giant HSBC on Tuesday reported a 62-per-cent fall in its annual profit last year, blaming losses incurred from the sale of HSBC Bank Brazil and other one-off costs.

Italian lawmakers approve 20-billion-euro debt hike for bank rescue

Italy's lower house of parliament on Thursday approved a government bid to increase public debt by up to 20 billion euros (about 21.3 billion dollars) to fund a rescue package for Monte dei Paschi di Siena (MPS) and other ailing banks.

Germany's central bank bringing home gold reserves ahead of schedule

The German central bank is on track to bring home billions in gold reserves years ahead of schedule, Bundesbank board member Carl-Ludwig Thiele announced in Frankfurt on Thursday.

Assets worth millions seized from ex Monte dei Paschi execs

Authorities have seized assets worth 22.6 million euros (23.6 million dollars) from two former executives at Italy's troubled Monte dei Paschi di Siena (MPS) bank.

EU commission approves support measures for Italy's Monte Paschi bank

The Italian government has received the green light from European Union authorities to provide liquidity measures for its ailing lender Monte dei Paschi di Siena (MPS).

ECB says Italy's MPS bank needs billions more in rescue funds

Ailing Italian bank Monte dei Paschi di Siena (MPS) needs to fill a larger capital gap than originally reported, the Italian bank stated late Monday citing new figures from the European Central Bank.

Italian government approves rescue package for Monte dei Paschi bank

The Italian government has approved an emergency decree to rescue stricken Monte dei Paschi (MPS) bank, Prime Minister Paolo Gentiloni said after a cabinet meeting.

Italy MPS bank's recapitalization has failed, state rescue looms

Italy's Monte dei Paschi di Siena (MPS), the eurozone's most troubled lender, announced Thursday the failure of a critical recapitalization bid, paving the way for a state rescue and de-facto nationalization.

Italian parliament approves 20-billion-euro bank rescue package

Italy's two houses of parliament on Wednesday approved a government request to increase the public debt by up to 20 billion euros (20.8 billion dollars) to fund a rescue package for ailing banks, starting with Monte dei Paschi di Siena (MPS).

Major banks' economists project Croatia's 2017 growth at 2.9%

Chief economists at major banks in Croatia have forecast that the country's economy will pick up to 2.9% in 2017 on the tailwinds of rising personal consumption and investment activity, the Croatian Banking Association (HUB) said at a news conference in Zagreb on Tuesday.

Italy's UniCredit announces recapitalization, bad loan sale, job cuts

Italy's biggest bank by assets, UniCredit, unveiled Tuesday a major restructuring plan hinging on a 13-billion-euro (13.8-billion-dollar) recapitalization, the sale of 17.7 billion euros' worth of bad loans, and more aggressive job cuts.

Italian banking shares tumble ahead of Sunday's referendum vote

Share prices for Italian banks fell sharply on the Milan stock exchange Monday, amid fears that a 'no' vote in a Sunday constitutional referendum could trigger a political and economic crisis.

Banking association calls for forming task force to deal with debts in arrears

The Croatian Banking Association (HUB) proposes the establishment of a task force in charge of elaborating a comprehensive solution to resolve the issues of Croatian citizens with blocked accounts, and the association warns that the announced amendments to the Distraint Law will not be conducive to solving problems of over-indebted citizens.

Croatian Postal Bank posts record net profit of HRK 147.5 mln

The Croatian Postal Bank (HPB)'s net profit in the first nine months of 2016 was 38.1% higher compared to the same period last year and amounted to HRK 147.5 million which is the best result since the bank was founded, a press conference heard on Tuesday.

HUB: Croatians' financial assets rapidly growing

Croatians are frugal and their financial assets are growing rapidly even though interest rates are at a historic low, shows an analysis by the Croatian Banking Association (HUB), released on the occasion of World Savings Day, October 31.

EC approves Croatia's bank resolution scheme

The European Commission on Wednesday approved Croatia's bank resolution scheme, to be used for small banks with total assets below 1.5 billion euros if found to be in distress by the competent national authorities.

Taiwan premier orders inquiry into Mega Bank after hefty US fine

Taiwan's premier has ordered an investigation into Mega International Commercial Bank, one of the island's biggest banks, after US regulators fined its New York branch 180 million dollars for violating anti-money laundering laws.

UniCredit shares continue fall despite higher profit, less bad loans

Italy's largest bank by assets, UniCredit, reported Wednesday higher profit and a reduction in exposure to bad loans, but still suffered stock market falls amid lingering concerns about its financial solidity.

Bank of England holds interest rate at 0.5 per cent

The Bank of England is holding its base interest rate at 0.5 per cent amid broad expectation of a cut to 0.25 per cent.

Italy's intractable banking crisis spells trouble for Renzi and EU

Monte dei Paschi di Siena, the world's oldest bank, is the epicentre of growing scrutiny on Italian lenders in the wake of the Brexit referendum. The growing anxiety over Italy's banking sector puts Prime Minister Matteo Renzi's political future at risk.

Italy's banking crisis deepens as MPS shares collapse on ECB demands

Monte dei Paschi di Siena (MPS) shares fell to a record low Monday on reports that the European Central Bank (ECB) wants the troubled Italian lender to reduce its exposure to bad loans, piling the pressure on Italy to tackle a wider national banking crisis.

Italy's bank crisis plans under scrutiny as ECB ups pressure on MPS

Shares in Monte dei Paschi di Siena (MPS) fell sharply on Monday on reports that the European Central Bank (ECB) wants the troubled Italian lender to reduce its exposure to bad loans, piling the pressure on Italy's government to tackle its banking crisis.

New UniCredit CEO sees need for stronger capital base

Frenchman Jean-Pierre Mustier, appointed Thursday as the new chief executive officer at Unicredit, said he would work to strengthen the troubled Italian bank's capital base and improve its bottom line.

If Britain leaves the EU will Frankfurt gain? The jury is divided

If British voters on June 23 say "No" to membership in the European Union, this could give a boost - at least temporarily - to financial centres around the EU that must now compete with London. Among others, Frankfurt could hope to benefit.

EBRD gives EUR 35M loan to RBA Leasing for credit line to SMEs

The EBRD is, thus, providing a EUR35 million loan to Raiffeisen Leasing d.o.o. to expand lease financing to Croatian small and medium-sized enterprises.

HNB: Non-performing loans ratio falls to 16.12% in March

Thus, the NPL rate was reduced by 1.02 percentage points compared to the end of March 2015, and by 0.53 percentage points compared to the end of 2015.

Commercial banks in Croatia earn Q1 gross profit of HRK 1.5 bn

Commercial banks in Croatia generated a total pre-tax profit of HRK 1.51 billion in the first quarter of 2016, according to preliminary unaudited data for 28 banks released by the Croatian National Bank (HNB) on Tuesday.

Bank lending down 5.7% in March y-o-y

At the end of March 2016, the total amount of loans granted stood at HRK 266.7 billion, which was 3.4 billion or 1.3% less than in February 2016 and HRK 16.2 billion or 5.7% less than in March 2016.

Deposits rise 5 pct to EUR 33.6b

Deposits in January 2016 increased five percent on the year to HRK 255.6 billion, while decreasing 0.5% month on month, according to the latest Croatian National Bank figures.

Fall in lending activity continues in January

Compared with January 2015, kuna loans increased by 3.5 billion or 4.6 percent, continuing their upward trend since October 2014. However, compared with end-December 2015, kuna loans accounted for HRK 570.5 million, which was a decrease of 0.7 percent.

Croatian banking sector registers gross loss in 2015

This has been the first time for the banking system to finish a year in the red since 1998, which was remembered for a banking crisis when lenders had the aggregate gross loss of HRK 2.7 billion. 

Credit Suisse to cut 4,000 jobs after massive loss

Credit Suisse will speed up its plan to cut 4,000 jobs, the major Swiss bank said Thursday, as it reported a net loss of 2.9 billion francs (2.7 billion dollars) in the last year.

UBS shares plummet despite 79-per cent annual profit rise

Major Swiss bank UBS said Tuesday that its net profit had jumped 79 per cent to 6.2 billion Swiss francs (6.07 billion dollars) last year, but the bank reported less solid growth in the fourth quarter.

New EU rules on bank aid must be changed, Bank of Italy chief says

Bank of Italy Governor Ignazio Visco called Saturday for an amendment to recently-introduced European Union rules on bank bailouts whose implementation has created problems and market tensions in his home country.

EU launches joint scheme to tackle failing eurozone banks

The European Union launched a new tool on Friday to help shore up the economy of the euro currency area, by introducing common rules to deal with failing lenders and protect taxpayers against the cost of future bank rescues.