Deutsche Bank is planning to close up to half of its Postbank branches in the next two years, the German bank’s new head of private banking told the Financial Times on Monday.
Spanish lenders could find themselves affected by increasing global risks, such as higher-for-longer interest rates that could inflate their so far contained retail deposit costs and also lead to more bad loans, the Bank of Spain warned on Monday.
A bleak economic outlook and tougher regulatory scrutiny are proving a final straw for investors in European payments company stocks, with signs some are giving up on the industry.
The worst may be over for China’s shaky commercial real estate market, HSBC said on Monday, as a further $500 million charge from the sector helped drag third quarter profits at Europe’s biggest bank below market forecasts.
Strategists at JPMorgan have advised opening a ‘short’ position in European banks, and moved the sector from ‘neutral’ to ‘underweight’, they said in a note published on Monday.
Spain’s Santander is planning to sell toxic real estate assets with a nominal value of up to 5 billion euros ($5.28 billion), Spanish daily Cinco Dias reported on Monday.
The Swiss National Bank is set to reduce the amount of money it pays commercial banks after it announced on Monday a cut in interest it pays lenders who park cash with it overnight.
Hedge fund Two Sigma Investments has told clients of $620 million in unexpected gains and losses which resulted from unauthorized adjustments, the Wall Street Journal reported.
Israel’s Bank Leumi named Shmuel (Muli) Ben-Zvi as its new chairman on Sunday, saying in a statement he would replacing Samer Haj Yehia, who is stepping down after a four-year tenure.
Mediobanca Chief Executive Alberto Nagel and his allies withstood opposition from the bank’s biggest investor to retain a firm grip on the company in a shareholder vote on Saturday, with the CEO securing a new three-year mandate.
