About: Banks

Pandemic cuts bank profitability to record lows

European banks face major losses from bad loans and other costs caused by the COVID-19 pandemic, and their profitability is at record low levels, the European Banking Authority warned in a report published on Friday (11 December).

Job cuts at Deutsche Bank are just the tip of the iceberg

Deutsche Bank will withdraw from its global equity business and cut 18,000 jobs over the next three years. This is part of a bigger trend: investment banks are looking more towards the US, which can sometimes be problematic for Europe. EURACTIV Germany reports.

Austrian chief economist: ‘A lot can still be done to complete the euro zone’

The Austrian national bank (OeNB) hosted its annual conference on 20 years of the euro on 2 and 3 May. In an interview with EURACTIV, the bank's chief economist explains how the euro zone debt crisis changed the economic "tool box" of the EU currency and spells out the challenges ahead.

Croats increasingly pull money from bank savings to avoid tax

Croatian citizens and entrepreneurs that keep their money in current and giro accounts, rather than in savings, are growing in number at historically high rates. Bundles of banknotes are more and more common in house vaults, socks and mattresses. EURACTIV Croatia reports.

Italy’s populist leaders pledge to replace central bank’s top brass

Italy's populist leaders on Saturday (9 February) promised to replace top officials at the country's central bank, who they said must pay for failing to prevent a spate of banking scandals in which thousands lost their savings.

90% of major European banks already sanctioned for money laundering

According to a British report, 18 of the 20 leading European banks, including four French ones, have already been sanctioned for money-laundering offences over the past decade. EURACTIV France’s media partner La Tribune reports.

BNP Paribas: A rudderless juggernaut?

In a thorough and critical documentary, two filmmakers raise questions about the disproportionate power of BNP Paribas, one of Europe’s largest banks. The documentary is a case study calling into question the credibility of European banking regulation. EURACTIV France reports.

ECB admits negative effect of monetary stimulus on German and Spanish banks   

Amid growing concerns about the profitability of eurozone banks, the ECB said that the monetary decisions adopted after the financial crisis had a neutral effect on the money houses of the single currency area, except for German and Spanish lenders.

Paris ahead of Frankfurt for Brexit City jobs

While banks in London have drastically scaled back their post-Brexit relocation estimates, they are now favouring France to Germany, according to a survey led by Reuters. EURACTIV’s partner La Tribune reports.

Consumers hail proposal to limit transaction costs in EU

The European Commission’s proposals to limit transfer costs to non-euro members and currency conversions abroad were welcomed by consumer and transparency activists, although NGOs complained that it would not benefit migrants’ remittances.

Banks should charge customers higher fees, says ECB

Banks should increase fees and commissions to customers to survive in the low interest rate environment, the ECB has argued in a new report.

Grim scenario for bank stress tests, says EU watchdog

The European Banking Authority has launched its third wave of stress tests conducted on 48 European banks. EURACTIV's partner La Tribune reports.

Thousands protest in Barcelona against Catalan independence

Hundreds of thousands of people took to the streets of Catalonia's capital Barcelona on Sunday (8 November) to express their opposition to declaring independence from Spain, showing how divided the region is on the issue.

Frankfurt and Dublin make bankers feel wanted in battle for Brexit jobs

"I'm here to send you the regards of the Federal Chancellor. I am entitled to tell you we want you in Germany." This private message from Angela Merkel, delivered by a regional politician to Wall Street bankers last year, is having the desired effect.

French senator: ‘All the ingredients of a new financial crash are in place’

Ten years after the sub-prime mortgage crisis threatened to destroy the global financial system, conditions in France are ripe for another financial crash, according to a recent senate report. EURACTIV’s partner La Tribune reports.

The bailout business: Who profits from bank rescues in the EU?

According to a new report by Amsterdam's Transnational Institute, bailing out banks is a lucrative business in the EU.

Goldman Sachs to slash London presence due to Brexit

US bank Goldman Sachs will move 1,000 staff from London to Frankfurt as part of a post-Brexit reorganisation that will reduce its City headcount by half, German business daily Handelsblatt reported today (19 January).

JPMorgan Chase planned to buy Italy’s troubled Monte Paschi

JPMorgan Chase wanted to buy troubled Italian rival BMPS but abandoned the plan over fears it would be vetoed by US regulators and opposed in Italy, people close to the deal told AFP on Wednesday (3 July).

For citizens’ sake, play it safe with securitisation

The European Commission’s desire to boost securitisation is ringing alarm bells among academics and civil society groups. Christophe Nijdam explains why.

MasterCard international chief: ‘Brexit wouldn’t be a significant change for us’

Blockchain is expected to have a larger impact on our business than a potential Brexit, suggests MasterCard’s deputy boss, Ann Cairns. In her view, the technology behind virtual currencies like bitcoin is “a good thing for the future”, she told EURACTIV.com.

Spanish banks may have to repay billions in ‘abusive’ fixed-rate mortgages

The European Commission welcomed the end of the bailout programme for Spanish banks, but now may be putting the country’s financial stability at risk, as it seeks further action against 'abusive' mortgage clauses, it was reported on Tuesday (27 October).

Bank of Spain threatens to evict Catalonia from the eurozone

The governor of the Spanish central bank has weighed in on the question of Catalan independence, threatening the region with expulsion from the eurozone if it declares independence. La Tribune reports.

Regulators start Greek bank tests, aim for speedy capital boost

Greece's battered banks will undergo accelerated tests to uncover their capital shortfalls as authorities race to recapitalise the lenders by the end of the year and avoid penalising large depositors.