banking
Allianz bank unit to be closed later this year
after the business has consistently failed to live up to expectations since it was set up in 2009.
Allianz said in a statement that it...
ING : says to set aside millions for US insurance contracts
Dutch banker ING said on Wednesday it was setting aside a fourth-quarter provision of 900 million to 1.1 billion euros to cover commitments on...
Barclays bank first-half net profit slides 38% to £1.5 bln
British bank Barclays announced its first half net profit slid 38 per cent as investment division revenues fell and after it set aside £1.0...
U.S. : FDIC chief Bair to leave
Sheila Bair, the feisty chairwoman of Washington's deposit insurance agency who fought the coddling of big banks in the financial crisis, announced Monday that...
Bank of America posts $1.2 bn quarterly loss
Bank of America, the biggest US bank, reported Friday a net loss of $1.2 billion for the fourth quarter, citing a hefty charge in...
Royal Bank of Scotland sells Priory rehab clinics
State-rescued Royal Bank of Scotland on Tuesday said it had agreed to sell Priory Group, whose clinics regularly treat celebrities with addictions, to private...
Aon Benfield ILS Indices represent key industry benchmarking tool
Aon Benfield Securities, the securities and investment banking operation of Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, today announces the launch...
EU eyes new rules to supervise financial giants
The European Union's executive arm proposed on Monday to give national supervisors more power to oversee financial conglomerates as part of efforts to prevent...
New British venture eyes state-rescued bank assets
A new venture is being launched to compete for acquiring retail banking assets bought by the British government at the height of the financial...
Insurance brokers under threat from huge increase in cost of regulation
The recent invoices received by members from the FSA for the 2010-11 fees and levies have highlighted the inequality of the current funding of...
Europe should tax banks whatever G20 decides: commissioner
Europe should tax its banks in order to build up an emergency bail-out fund whatever other major economies decide at this weekend's G20 summit,...
Europe braces for the release of bank stress tests
European governments are taking big steps towards revealing if banks can withstand shocks such as hit the global economy two years ago, and now...
Chinese banking giant ICBC to open branch in Belgium
Chinese banking giant ICBC (Industrial and Commercial Bank of China) is soon to open a branch in Belgium, the Belgian prime minister's office announced...
Europe moves to levy bank failure tax
Banks will never again be allowed to call on taxpayers to clean up their mess under plans for a new Europe-wide crisis insurance levy...
Austria extends ban on naked short-selling
The Austrian financial market watchdog, the FMA, said Tuesday it had decided to extend a current temporary ban on so-called naked short-selling by a...
Belgium’s KBC sells unit to India’s Hinduja group
Belgian lender KBC said Friday it has sold its Luxembourg private bank unit to India's Hinduja group for 1.35 billion euros (1.7 billion dollars)...
Chinese banks and insurers sign a 23 billon dollar refinery deal in Nigeria
Nigeria and a Chinese state firm have signed a 23-billion-dollar deal to build three refineries and a petrochemical complex in Nigeria, a world's major...
ING reports 3.2-billion-euro exposure to Greek bonds
Dutch bank and insurance group ING reported Wednesday an exposure of 3.2 billion euros (4 billion dollars) to Greek government bonds.
This was comprised of...
Dutch bank and insurance group ING returns to profit, cautions vigilance
Dutch bank and insurance group ING reported Wednesday a return to profit in the first quarter but counselled vigilance amid what it said were...
British bank RBS says will axe 2,600 jobs, mostly in insurance division
Britain's state-rescued lender Royal Bank of Scotland announced on Monday that it plans to axe 2,600 jobs.
The bank, which is 83-percent owned by the...
