One of the most reliable rules of thumb in finance is surely this: when bankers crack open the champagne, everyone else needs to start worrying – hard. Well, the next few days will most probably be soundtracked by a fusillade of popping corks, as Lloyds, RBS and other high-street banks put out bumper half-year performance reports. Continue Reading…
The UAE’s banking sector is well capitalised to withstand the significant deterioration of asset quality it faces, however, the lending is expected to remain weak and some banks will require capital injections, according to a stress test conducted by Shuaa Capital, a regional investment bank. Continue Reading…
Chile’s banking sector is putting the 2009 global financial crisis and an economic recession far behind it, as the industry is seeing profit increases of more than 50% so far this year. Continue Reading…
Robust profits from two of Europe’s biggest banking groups – HSBC and BNP Paribas – helped drive up stock markets on Monday, as investors continued to correct their underweight stance on the financial sector. Continue Reading…
China Everbright Bank’s IPO shares reserved for strategic investors have been hugely oversubscribed, signalling strong demand for the potentially $2.9 billion offering as stock markets recover. Continue Reading…
Royal Bank of Scotland is poised to tie up its deal with Santander for the sale of 318 branches, with the long-awaited announcement likely to come. Continue Reading…
Lloyds Banking Group is expected to report half-year profits of £800m before tax – a remarkable turnaround after losing £6.3bn last year. Continue Reading…
China Construction Bank Corp. said it has received approval from the nation’s banking regulator to proceed with its CNY75 billion rights issue in Shanghai and Hong Kong. Continue Reading…
The US banking system continues to wobble under financial woes, with 13 banks on an average going belly up every month in 2010. Continue Reading…
August 13 is pencilled in as the date for his departure as chairman of the Office for Budget Responsibility. Continue Reading…