banking
Russia's largest bank, Sberbank, will open more than 40 branches in the Russian-occupied territories in eastern and southern Ukraine next week. According to the state news agency TASS, Sberbank boss German Gref said at the firm's annual general meeting in Moscow that there will be 26 branches in the Luhansk, Donetsk, Zaporizhzhya and Kherson regions, some of which will be housed in partners' offices or in local citizens' offices. There would also be 16 mobile branches. The number of Sberbank ATMs in Donetsk and Luhansk will be increased to 65, he said. The appearance of the Russian banks, like...
DPA Breaking News
Revolut is aiming for a valuation of $40 billion (€37 billion) as it prepares to sell existing shares, the Financial Times reported on Thursday evening. In a deal organised with investment bank Morgan Stanley, the fintech firm seeks to offload $500 million (€468 million) worth of stock, including assets owned by employees. The valuation would exceed the $33 billion (€31 million) mark Revolut secured during a funding round in 2021. This would put it on par with Lloyds Banking Group, and ahead of UK lender NatWest and France's Société Générale. A number of European fintech firms, including Swedi...
Euronews (English)
El pasado miércoles 18 de mayo, el Consejo de Administración de Bankinter aprobaba la integración de EVO Banco, filial de la entidad, dentro de su estructura matriz. El objetivo, según el comunicado con el que las partes anunciaron el movimiento, es “aprovechar al máximo las sinergias entre ambas entidades y potenciar así la transformación digital del Grupo”. La información que se ha hecho pública hasta el momento apunta a que la clientela de EVO conservará sus operaciones totalmente digitales. La plantilla del neobanco se mantendrá para el desarrollo de productos y servicios digitales innovad...
CIO
Sainsbury's will sell the majority of its banking division to NatWest. The assets to be taken over by the UK lender include £1.4 billion (€1.6 billion) in unsecured personal loans, £1.1 billion (€1.3 billion) in credit card balances and about £2.6 billion (€3 billion) of customer deposits. The deal will boost NatWest's customer numbers by about one million, supporting its strategy to move further into retail banking. Sainsbury's Bank brand, its ATMs, insurance and travel money businesses are not part of the agreement. Neither is Argos Financial Services. Commenting on the decision, Sainsbury's...
Euronews (English)
The U.S. State and Treasury departments issued what they called a "sweeping" set of sanctions against Russia and its financial backers on June 12, in the latest move to try and degrade Moscow's wartime economy. Western countries have imposed extensive economic restrictions against Moscow over its full-scale invasion of Ukraine, seeking to curb its state revenue and prevent it from obtaining key technologies needed for the war effort. More than two years into its war, it is unclear if the measures have had their desired effect. Russia has increasingly mobilized its economy to support its war, a...
Kyiv Independent
The U.S. State and Treasury departments issued what they called a "sweeping" set of sanctions against Russia and its financial backers on June 12, in the latest move to try and degrade Moscow's wartime economy. Western countries have imposed extensive economic restrictions against Moscow over its full-scale invasion of Ukraine, seeking to curb its state revenue and prevent it from obtaining key technologies needed for the war effort. More than two years into its war, it is unclear if the measures have had their desired effect. Russia has increasingly mobilized its economy to support its war, a...
Kyiv Independent (CA)
The U.S. State and Treasury departments issued what they called a "sweeping" set of sanctions against Russia and its financial backers on June 12, in the latest move to try and degrade Moscow's wartime economy. Western countries have imposed extensive economic restrictions against Moscow over its full-scale invasion of Ukraine, seeking to curb its state revenue and prevent it from obtaining key technologies needed for the war effort. More than two years into its war, it is unclear if the measures have had their desired effect. Russia has increasingly mobilized its economy to support its war, a...
Kyiv Independent (UK)
Just days after European elections, EU officials are planning to shave some of the banking-sector protections designed to prevent a return of the 2008 financial crisis, a source briefed on the issue told Euronews. In 2017, an international standard-setters organisation issued a reform designed to hike the capital European banks need to issue against risk. The worry was that many lenders were undercounting risk by using their own, tailored internal models – leaving them dangerously exposed, and risking a further wave of taxpayer bailouts, should the economy turn sour. After much haggling, Bruss...
Euronews (English)
Ukraine’s banks are flush with cash. An influx of foreign aid, high interest rates on government bonds, pay rises for soldiers, and central bank policies after the start of the full-scale invasion boosted the sector's profits to 40.5 billion hryvnia ($1 billion) in the first three months of 2024, 19% higher than the same period last year. The banking sector has turned its fortunes around after hemorrhaging money in the first few months of Russia’s full-scale invasion. Back then, economic activity ground to a halt, international allies hesitated over foreign aid, and Russian troops occupied vas...
Kyiv Independent (CA)
Ukraine’s banks are flush with cash. An influx of foreign aid, high interest rates on government bonds, pay rises for soldiers, and central bank policies after the start of the full-scale invasion boosted the sector's profits to 40.5 billion hryvnia ($1 billion) in the first three months of 2024, 19% higher than the same period last year. The banking sector has turned its fortunes around after hemorrhaging money in the first few months of Russia’s full-scale invasion. Back then, economic activity ground to a halt, international allies hesitated over foreign aid, and Russian troops occupied vas...
Kyiv Independent (UK)
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