All articles by Douglas Blakey
Douglas Blakey
Q1 losses halve at ICICI’s retail unit
Indias largest private sector, ICICI, has halved first quarter retail banking pre-tax losses to INR2.17bn ($47.1m) from a loss of INR4.37bn in the same period last year. For the group as a whole, ICICI posted first quarter net profits of INR10.3bn, up 16.8% from a year ago. While total deposits dipped almost 1% to INR2.01tr, ICICI successfully grew its low cost current and savings account (CASA) deposits by almost one-third, to INR846.2bn at the end of the first quarter.
H1 Nedbank retail banking losses widen
First half retail banking losses at Nedbank, South Africas fourth-largest bank by assets, have increased to ZAR115m ($15.8m) from ZAR69m in the year ago period. Retail deposits grew by only 1.4% from the first half of fiscal 2009 to ZAR83.9bn while advances were 2.7% ahead at ZAR139.9bn. Retail deposit growth remains challenging given the environment of low interest rates and a highly competitive market, said Nedbank in a statement.
HSBC retail banking unit back in the black
HSBCs retail focused Personal Financial Services division has reported first half profits before tax of $1.2bn, compared with a loss of $1.2bn in the first half of 2009. Group wide, HSBC posted pre-tax profits of $11.1bn for the first half, more than double the year ago period (H109 $5.0bn).
Commercial Bank of Ethiopia win for Temenos
Commercial Bank of Ethiopia (CBE), the countrys largest lender, is to implement Temenos T24 core banking platform, as part of an overhaul of its IT infrastructure. In addition, CBE has become the first bank to sign up to Temenos Arc Mobile, the mobile banking system being rolled out by the Swiss-based vendor following its acquisition in May of FE Mobile. ARC Mobile will offer government owned CBE multi channel mobile capability to target the unbanked sector, by offering m-banking services with advanced cash management capabilities including SMS alerts, interactive SMS and web browser.
US bank failures hit 108
Five more bank failures have taken total bank closures this year in the US to 108. The biggest of the five banks to be shuttered on 30 July was Oregon-based LibertyBank, with total assets of $768 million and 15 branches. The Federal Deposit Insurance Corporation (FDIC) found buyers for the five banks, with Idaho-headquartered Home Federal Bank snapping up LibertyBank.
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EverBank agrees $16.6m naming rights deal
Florida-based regional lender EverBank has agreed a $16.6m, five-year naming rights deal with the National Football League’s Jacksonville Jaguars, one of the biggest bank sponsorship deals this year. In terms of the agreement, the Jaguars stadium the current Jacksonville Municipal Stadium will now be known as EverBank Field. EverBank will be designed as the official bank of the Jaguars, in addition to receiving promotions within the team’s televised home games and a variety of other media rights including prominent signage in the stadium and elsewhere in Jacksonville.
Metro set to go online following branch launch
Metro Bank, the UK-based retail bank co-founded by celebrated US-retail banker Vernon Hill, is set to launch its online channel following the successful debut of its first branch on 29 July.
Bank of Baroda posts 25% rise in Q1 profits
Bank of Baroda, Indias fourth-largest bank by branches, has posted first quarter net profits of INR8.59bn ($184.7m), up 25.4% from the corresponding period last year.
Erste H1 retail profits up 5%, group H1 down 4%
Austria-headquartered Erste has posted first half net profits of 471.9m ($612.9m), down 4.1% from the corresponding period last year. But first half net profits at Erstes retail and SME unit grew by 5% to 363.5m. Group-wide, Erstes net interest income grew by 7.2% to 2.68bn on the back of an improving net interest margin, which rose to 3.04%, from 2.92% in the first half of fiscal 2009.
Santander nets ?4.4bn H1 profits, deposits up 23%
Santander has reported a resilient set of first half results, with net profits of 4.44bn ($5.8bn) down by only 1.6% from the year ago period. In the first half of the current fiscal year, Santanders retail strength was highlighted by the retail banking unit generating 85% of total gross income and 72% of attributable profit.