Banking
The European Parliament sent a letter on April 25 to Austria's leaders, urging them to compel Raiffeisen Bank International (RBI) to cease its activities in Russia in compliance with EU sanctions. The Vienna-based bank group, the largest remaining Western bank in Russia, has been under increasing pressure since the start of the all-out war to scale down its activities in the country. The European Parliament's letter, addressed to Austrian Chancellor Karl Nehammer, Finance Minister Magnus Brunner, and Foreign Affairs Minister Alexander Schallenberg, cited reports that Raiffeisen was planning to...
Kyiv Independent (CA)
The European Parliament sent a letter on April 25 to Austria's leaders, urging them to compel Raiffeisen Bank International (RBI) to cease its activities in Russia in compliance with EU sanctions. The Vienna-based bank group, the largest remaining Western bank in Russia, has been under increasing pressure since the start of the all-out war to scale down its activities in the country. The European Parliament's letter, addressed to Austrian Chancellor Karl Nehammer, Finance Minister Magnus Brunner, and Foreign Affairs Minister Alexander Schallenberg, cited reports that Raiffeisen was planning to...
Kyiv Independent
The European Parliament sent a letter on April 25 to Austria's leaders, urging them to compel Raiffeisen Bank International (RBI) to cease its activities in Russia in compliance with EU sanctions. The Vienna-based bank group, the largest remaining Western bank in Russia, has been under increasing pressure since the start of the all-out war to scale down its activities in the country. The European Parliament's letter, addressed to Austrian Chancellor Karl Nehammer, Finance Minister Magnus Brunner, and Foreign Affairs Minister Alexander Schallenberg, cited reports that Raiffeisen was planning to...
Kyiv Independent (UK)
Deutsche Bank has recorded a first quarter net income of €1.45 billion, 10% more than the total made during the same period last year. The figure came in above analysts' expectations and also marks the group's highest first-quarter profit since 2013. Net revenues, meaning earnings made before deducting expenses, grew 1% year on year to €7.8 billion, which was primarily driven by growth in commissions and fee income. Meanwhile, revenue at Deutsche Bank's investment wing was up 13%, at €3 billion. This was boosted by a 7% increase in trading of fixed-income assets such as bonds. Origination and ...
Euronews (English)
The share price of the UK banking giant Barclays surged nearly 5% after the lender reported higher than expected profits for the first three months of this year, as it carried out an ambitious plan to get back into the investors' good books. The pre-tax profit was £2.3 billion (€2.68 billion), slightly more than the expected £2.2 billion, however, down from £2.6 billion a year ago. The group income was also slightly above expectations, £7 billion (€8.16 billion), but again, a drop of 4% year-on-year, while the operating expenses increased by 2% to £4.2 billion (€4.9 billion). "Barclays has sho...
Euronews (English)
Earlier in April, the European Parliament’s Committee on Economic and Monetary Affairs (the ECON Committee) was supposed to be voting on its report on the establishment of the digital euro. The Committee report is the first and most important step in shaping the position of the European Parliament on the digital euro, which will then be used to negotiate with the European Council and European Commission on the final text of the law. However, the vote mysteriously disappeared from the Committee’s agenda, and inside sources explained that nine months after the publication of the proposal by the ...
Euronews (English)
Goldman Sachs has surprised analysts its report of a double-digit rise in revenues and profits for the first three months of this year. Net revenues for the American multinational investment bank and financial services group reached $14.21 billion (€13.36 billion), 16% higher than last year and net earnings jumped to $4.13 billion (€3.88 billion) resulting in a 28% surge compared with a year ago. The New York-based company said it had earnings of $11.58 per share. The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for e...
Euronews (English)
New York (AFP) - Large American banks reported solid earnings Friday behind still-high interest rates while offering varying views on the likelihood the United States can avoid a near-term recession. JPMorgan Chase reported higher profits, citing increased asset management and investment banking fees as well as the lift from lofty interest rates, while Citigroup and Wells Fargo reported dipping profits on higher costs. Compared with a year ago, the banks have seen some uptick in write-offs for bad loans, reflecting the weaker profile of low-income consumers. However, bankers still point to a h...
AFP
The largest US bank JPMorgan kicked off earnings season with a modest 6% annual rise in first-quarter profits on Friday, however, CEO Jamie Dimon warned that inflation and geopolitical risks may impact the bank's operations in the future. Most metrics of JPMorgan's business were solid for the year's first three months. The lender earned a profit of $13.42 billion, or $4.44 a share. JPMorgan's results were impacted by a $725 million one-time charge to the Federal Deposit Insurance Corporation. While investment banking revenues were largely flat, the bank reported an uptick in activity. In the c...
Euronews (English)
Banks’ payments to a controversial €78bn crisis fund in 2022 were unlawful, EU judges said today (10 April) – the latest in a series of woes for post-crisis measures designed to halt taxpayer bailouts of failing financial institutions. The EU’s General Court ruled in favour of French bank Dexia, saying EU agency the Single Resolution Board (SRB) had got its maths wrong when demanding annual subscriptions to the fund it manages. The SRB “exceeded an annual upper limit imposed by the applicable rules,” a statement from the court said. Annual contributions are supposed to be one eighth of the tot...
Euronews (English)
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