Monzo reported its first annual profit on Monday in a milestone for the fast-growing British digital bank and said it would open an office in Ireland as it looks to expand into other European markets.
A Russian court has eased restrictions imposed on UniCredit in a lawsuit over an aborted gas project, on Friday permitting the Italian lender to offer Russian sovereign bond holdings as collateral instead of other assets and property.
Canadian banks are bracing for a few months of uncertainty with loan loss provisions expected to rise if interest rates remain elevated, even as their dealmaking and investment banking business improves, according to executives from major lenders.
Deutsche Bank expects a slight decline in its fixed-income business this quarter, but still sees overall revenue of 30 billion euros ($32.56 billion) in 2024, the chief financial officer of Germany’s largest bank said.
Laurentian Bank of Canada told its investors on Friday it would simplify its capital markets franchise to focus on its “strongest expertise”, such as fixed income and foreign exchange, under its revamped strategic plan.
The British government has sold 1.24 billion pounds ($1.58 billion) worth of shares in NatWest Group back to the lender, it said on Friday, decreasing its stake to around 22.5% from nearly 26% as it looks to end its ownership of the bank.
Bank of America’s investment banking fees are expected to rise 10% to 15% in the second quarter from a year earlier, CEO Brian Moynihan said on Thursday, after an almost two-year industry slump due to market volatility, rising interest rates and geopolitical turmoil.
The Bank of Canada (BoC) will increase supervision of payment service providers and launch a real-time payments system over the next two to three years, the central bank said on Thursday, in efforts to modernize the country’s financial system.
The Bank of Canada will trim interest rates to 4.75% on June 5, according to three-quarters of economists in a Reuters poll which showed three further cuts this year, with the last one hanging on a knife’s edge.
