Fin24

ARTICLES RELATING TO BANKS

UK banks face break-up threat

Britain's big banks could be broken up, after the country's new competition watchdog says it plans to launch an 18-month investigation.

Brics set up $100bn bank to break Western grip

Leaders of the Brics nations have launched a $100bn bank and a currency reserve pool in a step towards reshaping the Western-dominated global financial system.
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Church of England severs ties with Wonga

The Church of England has ended its association with high-interest online lender Wonga that came under scrutiny for sending customers bogus letters.
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Want euros in London? Don't ask your bank

Surveys show consumers tend to seek travel money from bureau de change booths in preference to banks because the rates are better.

Vatican bank to restructure

The Vatican bank will soon hive off its investment activities and dedicate itself mostly to payment services for the Roman Catholic Church, sources say.

Aus bank chief sorry for financial scandal

The head of Commonwealth Bank, which is Australia's biggest bank, says he was "truly sorry" for a major scandal in which thousands lost their life savings.
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We have ample funding for US fine - BNP

BNP Paribas executives say the bank has ample funding to back the almost $9bn fine and penalties it must pay after pleading guilty to criminal charges.

Bulgaria's bank crisis eases

Bulgaria's banking crisis has eased with fewer depositors queueing to withdraw savings after European Commission gave Sofia the green light.

Run on Bulgaria bank causes panic

Dozens of depositors have withdrawn savings from Bulgaria's third biggest bank despite assurances from the government and the European Union.

US to unveil record $9bn fine for BNP

The US Justice Department is expected to announce a settlement with BNP Paribas involving a record fine of nearly $9bn over alleged US sanctions violations.

Bulgaria arrests 3 more over bank run

Three more people have been arrested in Bulgaria on suspicion of plotting to destabilise the country's banking system.

ECB will regulate units of Russian banks

The European Central Bank will supervise and run health checks on the Austrian arms of Russia's two largest banks.

S&P downgrades four SA banks

Standard & Poor's has lowered the ratings of four big South African banks, following a similar rating action on the country's long-term foreign currency rating.
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77 000 banks to share tax info with US

More than 77 000 foreign banks have agreed to share information about US account holders as part of a crackdown on offshore tax evasion.

African Bank plans turnaround

The head of African Bank Leon Kirkinis says he has a recovery plan for the financial institution, following multi-billion rand losses.
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