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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.

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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.

Economy

Euroviews. Banking on fossil fuels: A one-way ticket to global economic meltdown

With the future of our planet at stake, banks need to be ambitious and move beyond policies that only offer mere lip service instead of solutions that meet the sheer scale of the challenge. Failure to do so would be unconscionable, Zahra Hdidou writes.

Economy

How Europe's most vulnerable are hindered from opening bank accounts

A report by Finance Watch shows that despite EU legislation, vulnerable consumers in the bloc don't have easy access to a basic bank account. In the midst of a cost-of-living crisis, the non-profit organisation believes a review of the rules is more necessary than ever to make them work for all.

Business

UK banks under fire for debanking hundreds of defence firms

The wrongful closure of hundreds of bank accounts belonging to defence companies puts national security at risk, claim Conservative MPs.

Business

Crédit Agricole announces earnings jump while rival’s profits plummet

France’s second largest bank surpasses profit expectations while competitor Société Générale sees earnings dip.

Business

BBVA-Sabadell potential merger: A sign of things to come?

BBVA's merger proposal to Banco Sabadell could transform the eurozone banking sector, potentially boosting BBVA's assets to more than $1 trillion and making it the third-largest eurozone bank according to market value.

Business

HSBC chief executive announces unexpected retirement

Noel Quinn is to step down after a tumultuous five years at the helm of the UK-based bank.

Business

Over 90% of wealthiest bankers are men, EU figures show

The number of banking millionaires is on the rise, according to the European Banking Authority – but women don’t seem to be benefiting.

Markets

Deutsche Bank makes highest quarterly profit in 11 years

Germany’s largest lender announces €1.45 billion net income for the first three months of the year.

Markets

Back in profit: Barclays share price jumps nearly 5% on latest results

Shares in Barclays jumped on Thursday as the UK lender swung back to profit after reporting losses in the final three months of last year amid its efforts to restructure the bank's operations.

Markets

Euroviews. Banking lobby's influence risks undermining digital euro's potential

Lawmakers as representatives of the people should resist the anticompetitive proposals of the banking sector and embrace a vision of the digital euro that serves the collective interests of Europeans, Dr Martijn van der Linden and Vicky Van Eyck write.