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Business

HSBC shake-up sees bank operations split between East and West

As part of the re-organisation, HSBC also announced the first-ever female finance chief in the bank's 159-year history. Pam Kau, currently the chief risk and compliance officer, has worked for the bank for more than a decade.

Business

AIB bucks the online trend with plans to invest in branch upgrades

AIB, one of the largest Irish banks, is planning a multi-million euro refit of its branches as it seeks to reiterate its commitment to maintaining its strong branch network in Ireland.

Business

Swiss regulator orders UBS to strengthen emergency protocol

The bank must step up its risk management given the takeover of Credit Suisse, according to the regulator FINMA.

Economy

German firms struggle to secure loans as economic uncertainty persists

Hesitancy from German banks is at its highest level in seven years, according to the IFO.

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Italy

Italian banker accused of hacking 3,500 accounts, including Meloni's

A former Intesa Sanpaolo employee has illegally and repeatedly accessed the accounts of the Italian premier, numerous politicians and law enforcement officers, authorities said Thursday.

Business

France mulls business tax hikes: What does it mean for investors?

The new levy, if accepted by parliament, could cost more than one-fourth of the expected growth in earnings for the biggest companies traded on the French stock exchange, according to a report.

Business

Wero set to become Europe's first unified payment solution

Wero is set to become Europe's first sovereign payment solution as a key rival to Visa and Mastercard. Its rapid expansion and access to the Single Market positions it as a strong alternative to the US-based networks.

Business

Commerzbank in larger payout pledge ahead of UniCredit talks

The German lender is lifting profit targets and shareholder rewards as Italy's UniCredit contemplates a merger.

Business

Commerzbank takeover: Germany questions UniCredit's 'hostile' strategy

UniCredit's bid to raise its stake in Commerzbank to 29.9% faces German resistance. The European Commission sees potential benefits in consolidation, while analysts predict significant financial synergies.

Business

Takeover target Commerzbank gets new CEO as UniCredit circles

Bettina Orlopp is to replace Manfred Knof 'in the near future'. The news comes days after Italian bank UniCredit revealed it had increased its stake in Commerzbank from around 9% to 21%, subject to regulatory approval.

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.

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?