All articles by Verdict Staff
Verdict Staff
News Digest
National Bank of Greece posts healthy profit rise… OCBC launches Islamic subsidiary, Sunday branch opening…
PNC rakes on all comers with multi-channel marketing punch
Thanks to a historically conservative business model, it has suffered less than other banks; indeed, it has exploited the industry chaos and US government funds to leapfrog unbalanced rivals and significantly expand it franchise. At the start of 2006, Pittsburgh-based PNC Financial was the 20th largest US financial services group; at the start of 2009, it will be the fifth by deposits, largely due to its snatch acquisition of National City last month for $5.2 billion (see RBI 601).
All to play for
There have been some positive developments in the prepaid card industry recently around the world but, without widespread government support, sentiment on the products profitability remains low, according to many of the speakers and delegates at this years VRL Prepaid Cards Summit in London.VRLs 4th annual Prepaid Cards Summit, held in London on 22-23 October, brought together the prepaid industrys thought leaders to discuss and analyse the development of prepaid so far
News Digest
STRATEGY: Wells Fargo raises record $12.6bn…RESULTS: Italys Big 2 both report 54% drop in Q3 earnings…MARKETING: RBC introduces new complaints process…PAYMENTS: US Bancorp tests contactless Micro Tag…RESULTSFannie Mae and Freddie Mac report record-breaking losses Fannie Mae, which together with Freddie Mac owns or guarantees about half of US mortgages, has posted a record $29 billion third-quarter loss, and said it expects a significant loss for the fourth quarter.
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Testing times ahead in the Gulf
RBIs study of the Middle Eastern banking industry shows that the majority of the regions main banks enjoyed healthy retail profits in 2007 Gulf Bank, which had $19.3 billion in assets as of 30 June 2008, announced on 25 October that it had lost an unspecified amount on its derivative holdings as a result of the sharp fall in the euro against the dollar in the previous week.
News Digest
Citi posts $2.8bn third quarter loss, looks ahead…Mixed results for PNC, BB&T and Capital One…StanChart branches out in South Korea market…Iceland: anatomy of a banking crisis…BBVA to post best-ever Latin Americas result….RESULTS
News Digest
Singapores DBS Bank invests in Taiwan, India…National Bank of Greece looks abroad for an insurance partner…Swedbanks rebranding project gathers pace…Spains Banesto wheels out free car incentive…Visa, US Bank in mobile money transfer pilot…..TRENDSThe ugly emergence of the online bank run
News digest
O2 links up with Royal Bank of Scotland…Online product sales on the up, says Irelands AIB…Israeli banks braced for global downturn…Retail strength fuels National Bank of Greece…Spains soccer managers promote La Liga BBVA….PAYMENTSO2 links up with Royal Bank of Scotland
News Digest
MoBank: the worlds first mobile-only bank…Gold medal for ICBC as H1 profit hits $10bn…Spains housing crisis starts to bite…UKs Nationwide plans Irish retail bank launch…Absa hits 1m online customer milestone…DISTRIBUTIONMoBank: the worlds first mobile-only bank Two former employees of UK bank Egg, the pioneering internet bank, have founded MoBank, the worlds first mobile phone bank and are aiming to pick up 100,000 customers in their first year.