Barclays is reportedly preparing to move its EU headquarters to Dublin January 26, 2017 Barclays is planning to move its EU headquarters to Dublin, according to sources. The bank is preparing for the relocation ahead of Brexit, Reuters reported. "We have made clear repeatedly that we will plan for a range of Brexit contingencies, including building greater capacity into our existing operations in Dublin," a spokesman for Barclays said. [...]
Royal Bank of Scotland has set aside another £3.1bn for US settlements January 26, 2017 Royal Bank of Scotland today confirmed that it has set aside a further £3.1bn to pay fines relating to the issuing and underwriting of US residential mortgage-backed securities (RMBS). However, shares in the group were up almost two per cent in early trading. The bank said this takes the total sum it has provided for [...]
RBS to be hit by multi-billion-pound charge for mis-selling mortgage-backed securities January 25, 2017 RBS is set to be hit by a new multi-billion-pound charge for mis-selling mortgage-backed securities. A formal statement confirming the charge could come as soon as today with RBS directors expected to discuss the move in a board meeting this week. The charge could be between $3bn (£2.4bn) and $4bn, sources told Sky News last night. The [...]
Bank of England governor Mark Carney warns fintech’s democratic revolution poses risk to financial system January 25, 2017 The fintech revolution poses significant risks to the stability of the financial services sector, according to Bank of England governor Mark Carney. Fintech’s assault on the business models of traditional banks could increase liquidity risks for the broader financial system, Carney warned in a speech delivered at a G20 conference in Wiesbaden, Germany. “The opening [...]
Is blockchain a “new operating system for the planet”? Barclays vice chairman Jeremy Wilson thinks so January 25, 2017 Blockchain has the potential to become “a new operating system for the planet” in a generation’s time, while mainstream commercial use is likely to happen within the next decade, one of Barclays’ top executives believes. “I don’t think I’ve heard it mentioned as anything other than a significant opportunity,” said its corporate banking vice-chairman Jeremy Wilson. [...]
Santander’s UK profits take a beating from pound slump January 25, 2017 Santander chief executive Nathan Bostock expects this year to be "challenging" despite the Spanish bank reporting strong profit growth this morning. The figures The bank saw a four per cent rise in 2016's net profit to €6.2bn (£5.3bn) after its Brazilian operations grew for the fourth consecutive quarter. In the last quarter of 2016, the bank made net profits of €1.6bn, [...]
Metro Bank boss: Branchless banking reduces customer choice January 25, 2017 Like Deliveroo and Uber, banks should mix the physical and digital according to Metro Bank chief executive Craig Donaldson. The challenger bank boss said not giving customers the opportunity for face to face interaction is taking away choice. Metro Bank has 48 branches at present, but Donaldson said its target is 250 or maybe 300 [...]
IG Markets bins binary products for new investors January 24, 2017 IG Markets has withdrawn a popular spreadbetting product that allows punters to speculate on a wide range of market movements, as regulators consider proposals to crack down on the sector. Sprints binary products will no longer be available to new investors, the FTSE 250 firm said today, although they can still be used by current clients. Read [...]
Saudi Aramco eyes bankers for what could be the world’s biggest float January 24, 2017 Global banking giants are set to compete for an advisory role on oil goliath Saudi Aramco’s multi-billion-dollar float, which is expected to be the world’s biggest initial public offering. The Saudi state-owned firm, thought to be the world’s largest oil producer, has requested proposals from banks including Morgan Stanley and HSBC, sources told Reuters late last night. [...]
Revealed: The full list of branches HSBC is set to close this year January 24, 2017 HSBC has announced 62 fresh branch closures today as part of its restructuring programme. This takes the total number of branches closing this year to 117. Here's a full list of the 62 branches HSBC just announced its closing: Alfreton Alnwick Ammanford Balsall Common Bedworth Blackpool, Birley Street Bletchley Brigg Bristol College Green Brompton Road Cardiff, Churchill [...]