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Economy

Banks unprepared for next financial crisis, warns new report

Banking regulations must be tightened to ensure financial stability, says Brussels-based NGO Finance Watch. But, it warns, political will is lacking.

Business

UniCredit raises stake in Germany's Commerzbank to 21%

If the deal wins approval, it will make the Italian bank Commerzbank's largest shareholder - to the dismay of the German government.

Business

European Central Bank approves BBVA’s offer for Banco Sabadell

Although the European Central Bank (ECB) has approved this offer, BBVA still needs other regulatory approvals for the acquisition to be completed.

Business

Why the German government looks set to reduce its stake in Commerzbank

Commerzbank has emerged from financial distress, prompting the state to sell down its €2.5 billion stake.

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Business

Revolut unveils new bill payment facility for businesses

Fintech company Revolut has unveiled a new bill payment facility for businesses after announcing a secondary share sale, in order to offer more liquidity to its employees.

Business

Deutsche Bank settles 60% of claims in long-running legal dispute

The German lender has been dealing with disgruntled shareholders since its acquisition of Postbank fourteen years ago. Now, it claims to have made "significant progress".

The Big Question

The Big Question: Why is it hard for banks to cut fossil fuel finance?

In this episode of The Big Question, the European Banking Federation CEO shares his thoughts on ending fossil fuel investments and the problem with doing it too quickly.

Business

Barclays becomes first UK bank to lift the EU cap on bankers' bonuses

The formal lifting of the cap on bonuses which was originally imposed by the EU opens the way for staff to receive up to ten times their salaries in bonus payments. The move is part of a wider post-Brexit push to boost the City of London.

Business

Revolut bank gets UK go-ahead: A licence to print money?

After more than three years of waiting, global neobank Revolut has finally been given a UK banking licence. However, it will have to limit the total amount of deposits it can accept.

Money

Europe's rival to Visa and Mastercard soon to roll out in Belgium

US payment giants Visa, Mastercard, PayPal, Apple and Google Pay are getting a new rival in Europe: it's called Wero and it's already available to some consumers in Germany and by the end of July in Belgium - how does it work and what are its features?

Business

Tiger Global set to take charge of Revolut's million-dollar share sale

Revolut saw record profit before tax for the full year 2023, further cementing its position as Britain's most valuable fintech.

Business

Revolut CEO hopeful that UK banking licence is coming soon

The fintech company saw record full-year pre-tax profits in 2023, and hopes that will help convince the UK authorities to grant it a banking licence.

Europe News

EU Commissioner berates member states for bank crisis retreat

Member states took a step backwards when gutting EU laws designed to manage failing lenders, Mairead McGuinness said.

Business

Revolut in talks to sell close to €500 million of existing shares

The UK fintech firm, already one of Europe's most-valuable startups, is seeking to shore up shareholder liquidity without yet launching an IPO.

Business

UK retailer Sainsbury’s to offload banking business to NatWest

The second biggest supermarket chain in the UK is selling its banking arm to focus on its core food business.

Business

EU set to partly delay key banking reform, as US drags feet

Brussels will likely be under pressure to boost competitiveness as its politics takes a rightward turn.

Business

Deutsche Bank shuts down Numis US operations post takeover

Deutsche Bank has cut Numis' valuation by about €233 million following the takeover in April 2023, which is believed to be one of the biggest reasons for Numis' US branch shutdown.

Business

ABN Amro buys German bank Hauck Aufhäuser Lampe

Dutch lender ABN Amro announced on Tuesday that it would buy the private German bank Hauck Aufhäuser Lampe (HAL) from the Chinese conglomerate Fosun.

Business

Commerzbank notes highest numbers in more than a decade

Although the current higher interest rate environment is favourable for Commerzbank, things could change if the European Central Bank decides to cut rates this summer.

Green News

Banks are propping up fossil fuels to the tune of €6.5 trillion

Barclays, Santander and Deutsche Bank were among Europe’s biggest fossil fuel financers in 2023.