All articles by Douglas Blakey
Douglas Blakey
Softbank, Gemalto roll out Japanese NFC trial
Netherlands-headquartered digital security vendor, Gemalto, has teamed up with Japanese telecoms firm Softbank Mobile to launch a mobile contactless pilot in Japan. Using MasterCards PayPass contactless technology, the Softbank MobileGemalto service will enable customers to use their mobile handsets to pay for goods and services in convenience stores, fast-food restaurants and theatres.
Money Dashboard and Bank of Montreal launch PFM tools
Powered by the online banking solution provider Yodlee, Money Dashboard has been designed to offer a simple online solution for consumers who struggle to keep track of spending and income. By aggregating balances and transactions from multiple online bank accounts brands and credit cards brands in one secure view, Money Dashboard was designed to give users a clear picture of all their accounts in one place.
The road to retail excellence
Retail banks, even those in markets that have weathered the global financial crisis relatively well, must raise their game to overcome an altered industry landscape, changing customer behaviour and expectations, and stricter government regulation, according to a report by Boston Consulting Group. Although the nature and impact of current industry trends vary by country and region, the majority of retail banks are still recovering from significant financial stress endured over the past three years.
3 up, 2 down: retail earnings fall at Wells Fargo, US Bank
Two of the largest US retail banking groups Wells Fargo and US Bank have posted a fall in retail banking profits for fiscal 2010. By contrast, JPMorgan Chases retail unit has returned to the black, following a miserable fiscal 2009 when profits were wiped out at its Retail Financial Services unit and its card division lost $2.22bn.
Texas-based Sterling Bank on the block
Texas-based, 56-branch-strong, Sterling Bank, is reportedly up for sale with a deal expected by the end of January. Regional lenders Comerica and BB&T have both been linked with Sterling, which analysts value in the region of $825m. As of 30 September, Sterling had total assets of $5bn, total loans of $2.9bn and total deposits of $4.1bn.
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Chase FY net profit up 48% to $11.7bn
JPMorgan Chase has kicked off the US reporting season with a full year net profit of $17.4bn, up 48% from $11.7bn the prior year. CEO Jamie Dimon said that JPMorgan Chase had come through the worst economic storm in recent history stronger than we have ever been. The banks Retail Financial Services (RFS) unit posted a net profit of $2.53bn compared with $97m the prior year.
Sovereign Bank releases TV campaign
Philadelphia-based media agency Shooters has teamed up with Sovereign Banks in-house creative agency, 601, to produce TV ad creative for the US-based retail banking subsidiary of Santander. The ad depicts a wall made entirely of puzzle pieces; actors pull, push, raise or compress missing puzzle pieces into place on the wall, in an attempt to illustrate how Sovereign Bank can customise personal banking needs to fit a customers financial picture.
M&T full year profits rise by 94%
Buffalo-based M&T has posted a full year net profit of $736m for the 12 months to 31 December, up 94% from $380m in the prior year. M&Ts net interest margin increased by 35 basis points to 3.84% during the year, helping to boost net interest income by 10% year-on-year to $2.27bn The provision for credit losses declined 39% to $368 million for the year from $604 million in 2009
HDFC Bank tops online Indian survey
The online channel of Indias second-largest private sector bank, HDFC, is the countrys most popular banking website, as measured by the average number of daily visitors.
AMCON injects NGN239bn into Union Bank of Nigeria
Union Bank of Nigeria, one of the Nigerian lenders bailed out by the countrys central bank in 2009, has received a capital injection of NGN239bn($1.56bn)from the Asset Management Company of Nigeria (AMCON) for the purchase of toxic assets