All articles by Douglas Blakey
Douglas Blakey
BNP Paribas Fortis talks about its rebranding and customer proposition
After a lengthy battle to snap up Fortis Banque, BNP Paribas finally closed the deal in May becoming the eurozones largest bank by deposits in the process Douglas Blakey talks to Franciska Decuypere, retail banking marketing head at the newly rebranded BNP Paribas Fortis, about the new, more powerful group.It was one of the most protracted and at times among the most acrimonious of recent banking takeover deals but, in May, seven months after first announcing plans to acquire Fortis Banque, BNP Paribas (BNPP) donned the mantle of the eurozones largest bank by deposits (see chart below). The acquisition of Fortis banking interests provided a timely boost to BNPPs strategy of augmenting its retail revenue streams as it pares back its investment and corporate banking operations
Absa interview: Plans for 2010
Personal indebtedness at worryingly high levels and a reduced demand for credit and fears over job security in South Africa meant Absa could not escape the global financial crisis unscathed But as the banks group executive for retail banking, Gavin Opperman, tells Douglas Blakey, 2010 will bring exciting opportunities. The statement from Absa to the Johannesburg stock exchange on 4 December that its profits for the 12 months to 31 December will fall by as much as 35 percent year-on-year attracted much publicity and removed any notion that the bank could escape unscathed from the global economic crisis.
Royal Bank of Canada: Rewards and results
In April, David McKay, group head of Canadian banking at Royal Bank of Canada, told RBI of thebanks plans to extend its RBC Rewards loyalty programme to all its consumer banking products
Rabo dumps climate card in focus shift
Less than four years after a high-profile launch, Rabobank is to drop its environmentally-friendly credit card designed to compensate the CO2 emissions related to its cardholders purchases In its place, the Dutch co-operative has kicked off an ambitious group-wide project to reduce CO2 emissions
Segmentation: The unbanked American masses
More than one in four US households are unbanked or underbanked according to the National Survey of Unbanked and Underbanked Households, a report conducted on behalf of the FDIC by the Bureau of the Census, the most comprehensive such survey undertaken to date in the US More than one quarter (25.6 percent) of all households in the US is unbanked or underbanked with such households disproportionately low-income andor comprised of members of certain minority groups, according to the national survey of unbanked and underbanked households, a report conducted on behalf of the Federal Deposit Insurance Corporation (FDIC) by the US Bureau of the Census.
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Raiffeisen to roll out CEE direct bank
Austrias Raiffeisen International, the third-largest bank by assets in Central and Eastern Europe (CEE), has announced ambitious plans to launch a direct banking subsidiary in selected countries in the region from as early as the first quarter of 2010. The new online bank, to be headquartered in Austria, will address the unique needs and interests of internet-focused customers, who represent a fast-growing group in CEE, said chief executive Herbert Stepic in a statement. By investing in a new direct bank, we are also underlining our commitment to CEE and our conviction that the regions convergence process will continue, Stepic added.
Canadian full-year earnings offer festive cheer
In sharp contrast to developments at banks south of the border, the sector continues to boast no government bailouts; aggregate group net profits up sharply; even retail earnings rose, in the process exceeding analysts estimates. Total group net profits at Canadas Big Five banks increased by 17.8 percent to C$13.48 billion ($12.7 billion) for the 12 months to 31 October compared to C$11.4 billion in 2008
FDIC paints a sour picture of the US
Although the 8,099 FDIC-insured banks and savings institutions in the US reported total net profits of $2.8 billion in the third quarter compared with a $4.3 billion loss in the previous three months that was about the only positive indicator contained in the FDICs quarterly banking profile. Overall, more than one-in-four institutions (26.4 percent) posted a loss in the third quarter while mid-tier banks (with total assets between $1 billion to $10 billion) lost $1.76 billion overall.
Santander strikes in unstable UK market
Despite being offered only to the banks mortgage customers, the potential up-sell is some 1.75 million customers, reports Douglas Blakey.Spains Santander, which operates the UKs fifth largest retail banking network, is to launch an innovative current account in the UK early next year which not only aims to increase cross sell metrics but also capitalise on widespread consumer discontent in the country over unfair banking fees.News of Santanders Zero account launch came only a few days before a surprise ruling from the UK Supreme Court on the fairness of some UK consumer banking fees
Deal leaves bancassurance model intact
KBC Group will dispose of its private banking arm, scale back merchant banking interests, sell a private equity unit and retreat from a number of markets to focus on Belgium and five Eastern European countries as the price of receiving state aid