All articles by Douglas Blakey
Douglas Blakey
DnB NOR H1 profits soar, retail earnings dip
DnB NOR, Norways largest bank by assets, has posted first half net profits of NOK5.74 billion ($900.9 million), up 60.4 percent from the corresponding period last year. But pre-tax profits at DnB NORs retail banking unit fell, by 8.2 % to NOK3.29 billion in the first half. Fierce competition for deposits took its toll, with total retail deposits remaining flat while margin pressure resulted in a 5.4% drop in first half retail net interest income.
Supervielle snaps up GE Money’s Argentinean unit
Argentina-based Grupo Supervielle has acquired the country operations of GE Money, including the local consumer credit services for US-retailer Wal-Mart, for an undisclosed sum GE Moneys Argentinean loan book totals around ARS500 million ($127.1 million) and includes 330,000 card customers.
Santander eyes German, US targets
Italys largest lender by assets, UniCredit, has reportedly dropped out of the running to acquire the German retail division of Swedens SEB, having been outbid by Santander Spains largest lender also continues to be linked with a possible merger of its US-based Sovereign Bank with New York-based rival M&T Bank. Spanish-based Santander is in pole position to snap up the loss-making German-based retail unit of Swedish-based SEB, in a deal worth around 500m ($613.9m).
BTS launch LatAm, Asia transfer services
Bancomer Transfer Services (BTS) has launched a money transfer service enabling consumers to send money from any BTS location in the US to countries in Asia and Latin America
Ixe Bank launches Mexican mBanking service
Sybase 365, a subsidiary of Sybase, the mobile messaging and mobile commerce service provider, has teamed up with Mexico-based Ixe Bank, to launch ‘Ixe Net Movil’, a multi-channel mBanking service. The partnership equips Ixe customers with on-the-go account access and multiple banking functions through all channels – SMS, mobile browser and rich-client Mobile Banking
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TARP losses forecast to fall, but 91 banks miss payments
In its monthly report for May, the US Treasury reported that repayments of the Troubled Asset Relief Program (TARP) fund have exceeded the total amount of outstanding TARP funds by $4bn until the end of the month.
NBAD scores international remittances first
National Bank of Abu Dhabi (NBAD), the second-largest bank in the United Arab Emirates by assets, has become the first bank in the Middle East to offer international remittances from customers mobile phones. As a result of a partnership with remittances firm MoneyGram, NBAD customers will be to use their mobile handset to transfer money to more than 200,000 locations in 190 countries and territories around the world.
Shinsei releases 3 yr turnaround plan
Mid-sized Japanese lender Shinsei Bank has released details of a three year turnaround plan, covering the period to 31 March 2013. Shinsei is trying to recover from losses of 143 billion ($1.6 billion) and 140.1 billion for the years ended 31 March 2009 and 31 March 2010 respectively. According to the strategy document, total revenue of 265 billion is forecast for the year to 31 March 3013, a 7 percent drop from the year to March 2010.
RBS retail asset sales gather pace
HSBC has agreed a deal to acquire the Kazakhstan retail banking unit of Royal Bank of Scotland (RBS) in a deal worth up to a maximum of $52 million. News of RBS exit from Kazakhstan followed the sale of its retail banking unit in the United Arab Emirates to Abu Dhabi Commercial Bank (ADCB) and a deal to sell its interests in Pakistan to Faysal Bank.
Indian savings rates to be deregulated
The Reserve Bank of India is set to deregulate retail savings interest rates, among the last remaining rates in the country subject to regulation by the Reserve Bank. Interest rates on savings deposit accounts and non-resident Indian (NRI) deposits remain subject to the Reserve Bank regulation.