All articles by Douglas Blakey
Douglas Blakey
Political pressure mounts on BofA
Bank of Americas (BofA) decision to impose a $5 a month charge on some debit cardholders has been blasted by Democrat politicians. Illinois Richard Durbin and North Carolinas Brad Miller have called on BofA customers to switch banks. In the Senate, Durbin suggested that BofA customers “get the heck out of that bank.”
Barclays no.1 UK banking brand spender on online display
Barclays is the biggest UK spender in the financial services sector in online display advertising, according to the Internet Advertising Bureau (IAB). In the first half of 2011, Barclays was the only financial services brand among the biggest 20 spenders on online display advertising.
Card fraud, online banking fraud losses fall, cheque fraud, phone banking losses rise
Fraud losses on UK cards fell year-on-year in the first half of 2011 as did fraud on online bank accounts Total fraud losses on UK cards fell by 9% to £169.8m ($262m)in the 6 months to 30 June: the lowest loss for 11 years and the 3rd consecutive decrease.
US branch numbers show further decline
The annual snapshot of US banking market metrics from the Federal Deposit Insurance Corporation (FDIC), one of the most eagerly awaited sets of US banking data, has been released For the second year running, the number of bank branches in the US has fallen. The Summary of Deposits (SD) report gives a comprehensive snapshot of the worlds largest banking industry of 30 June for all FDIC-insured commercial banks, savings institutions and insured branches of foreign banks in the US.
Financial brands continue to struggle
Financial companies again comprise 14 of the Top 100 Global Brands according to the consultancy Interbrand but some big names have struggled in the annual brand ranking
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Citibank launches new retail banking website
As part of its concerted drive to become the worlds digital bank, Citigroup has rolled out a new retail banking website According to Citi, the new website raises the bar by offering an intuitive user experience, clean design and advanced personal finance tools with third-party account integration.
ADCB claims UAE first with free retail banking
Abu Dhabi Commercial Bank (ADCB) has rolled out what it says is the first current account in the United Arab Emirates (UAE) free of charges for all of its retail banking customers. According to ADCB, the product launch will boost its account switching efforts and give it first mover advantage in the UAE market.
Danske to become primary sponsor of the Danish football team
Danske Bank has agreed a four year deal with the Danish Football Association (DBU) to become the major sponsor of the Denmark national soccer team.
Bank of America to charge debit cardholders $5 monthly fee
With the Dodd-Frank Durbin amendment capping debit card processing fees at $0.21 per transaction, coming into force on 1 October, US banks have been eyeing up ways to offset a forecast $6bn a year in lost revenue. BofA has said it faces a revenue hit of up to $2bn a year; Wells Fargo said it will lose revenue of up to $1bn.
Santander’s Saenz: profits to normalise in 3 years
Santander does not expect profit levels to normalise for up to three years but issued an upbeat assessment of its prospect in the emerging markets. At an investor presentation on 29 September, Santander CEO Alfredo Saenz said that the emerging markets will provide double digit profit growth in the short and medium term.