All articles by Douglas Blakey
Douglas Blakey
Banesto posts FY net profit down by 17%
Banesto, the Spain-based retail focused subsidiary of Santander, has kicked off the European reporting season by posting a net profit of 460m ($613.8m)for the 12 months to 31 December, down 17.8% from a year ago. Banesto missed analyst forecasts as impaired loans as a percentage of total lending rose by 114 basis points to 4.08% from 2.94% at the end of fiscal 2009.
First Direct finally launches m-banking app
HSBCs UK-based online subsidiary first direct has rolled out a mobile banking app for Apples iPhone and iPod Touch devices. The service will enable customers to make payments and transfer money between accounts, check account balances and view the last 20 account transactions. According to first direct, the service is the first banking app in the UK to allow customers to make payments via their smartphone
ICICI, SBI ink mobile banking deals
State Bank of India (SBI) and ICICI, Indias largest public and private sector banks respectively, have formed partnerships with two of the countrys major telecoms firms to boost their mobile banking services. In a statement, Vodafone Essar said it would work with ICICI to offer electronic payments while Bharti and SBI will provide money transfer and other m- banking services.
Vietnam’s HD Bank reveals name change
Vietnam-based HCM City Housing Development Commercial Bank (HD Bank) is to change its name to HD Commercial Bank, as part of its drive to become a modern retail bank and one of the countrys five largest lenders.
Korean card marketing under review
Koreas Financial Supervisory Service (FSS) is to investigate the countrys five independent credit card issuers marketing activity. The FSS said on 11 January that it will be looking into alleged excessive marketing spend by Shinhan, Hyundai, Hana SK, Samsung and Lotte. According to the FSS, marketing spend at the card issuers as a proportion of total profits rose to almost 25% in the third quarter of 2010.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
NHL’s Nashville Predators sign up Fifth Third
Nashville Predators executive vice president marketing officer Chris Parker said in a statement: Building upon their successful participation in our organisations recently completed credit facility, we are pleased to announce that Fifth Third has signed a letter of intent to become the Official Bank of the Nashville Predators and Bridgestone Arena effective immediately.
First City linked with Finbank
Finbank, one of the nine Nigerian lenders rescued by the country’s central bank in 2009, has told the local stock exchange that it is in talks with a potential strategic investor
Axis Bank teams up with Tata to launch AxisDirect
Axis Bank, the third-largest private sector bank in India, has launched AxisDirect, an online trading platform, representing the banks debut in online broking.
QNB full year profits increase by 36%
Qatar National Bank (QNB), the countrys largest lender, has posted a 35.8% increase in full year net profits Net income for the 12 months to 31 December rose to QAR5.7bn, beating analyst forecasts, following rising loans and deposits. Total loans rose by 21.1% from a year ago to QAR131.7 bn while deposits increased by 31.5% to QAR165.5 bn.
“Jury is out’ on RBC’s US retail unit
Gordon Nixon, CEO of Royal Bank of Canada (RBC) told an investor conference in Toronto on 11 January that the jury is out on the future of RBCs retail unit in the US. At this point in the cycle I am not sure what we would like to do in the US in the longer term said Nixon. He has in the past said that all options were on the table as regards its 426-branch-strongUS division, concentrated in the in the South East of the US.