Banking in the European Union

Latest business news and information covering the EU's banking sector.

Europe a 'wicked stepmother' in Cyprus: Italian business — 19 March 2013, 22:59 CET

The head of Italy's employers federation on Tuesday said proposed bank levies in Cyprus would put Europe in the role of "a wicked stepmother".

EU reaches deal on bank supervisor — 19 March 2013, 22:59 CET

The European Parliament has approved setting up a single eurozone bank supervisor which supporters say will help stop troubled banks forcing their governments to seek bailouts.

Cyprus savers first to foot the bill for eurozone bailout — 19 March 2013, 10:44 CET

As savers in Cyprus rush to withdraw money in the light of a proposed bailout that requires hefty levies on their deposits, the plan raised concern across the eurozone as a possible precedent for other crisis-hit countries.

IMF urges EU to clean up banks — 15 March 2013, 19:25 CET

The International Monetary Fund said Friday that the European economy and financial system remained weak and urged the region to quickly clean up its banks in order to advance toward a banking union.

EU evictions ruling heartens debtors in Spain — 14 March 2013, 21:36 CET

Homeowners ruined by Spain's economic crisis and their defenders hailed a big step forward on Thursday after Europe's top court ruled that the country's eviction laws breached EU rules.

Commerzbank in EUR 2.5 bn capital increase — 13 March 2013, 16:27 CET

Commerzbank, Germany's second-biggest bank, said Wednesday that it will undertake a 2.5-billion-euro capital hike to repay further chunks of a state bailout it received during the 2008-2009 financial crisis.

Slovenia, Croatia sign deal over banking row — 11 March 2013, 18:07 CET

Slovenia and Croatia on Monday signed an agreement to resolve a long-standing banking row that threatened to hold up Zagreb's EU accession, scheduled for July.

Croatia, Slovenia find solution over bank row — 07 March 2013, 17:02 CET

Croatia and Slovenia have agreed to resolve a long-standing banking row that has threatened to hold up Zagreb's EU admission, Croatian Prime Minister Zoran Milanovic said on Thursday.

Spain banks need no more rescue money: Brussels — 05 March 2013, 20:05 CET

Spain will likely need no more money from Brussels to fix its financial industry after receiving 41.4 billion euros to shore up banks hammered by a 2008 property crash, the European Commission said Tuesday.

EU delays bank bonus cap as Britain offers hope for deal — 05 March 2013, 17:51 CET

EU governments on Tuesday delayed a decision to introduce controversial bank bonus caps after Britain, partly backed by Germany, sought adjustments in extra-time negotiations.

EU ministers tackle bank bonus cap, Britain holds out — 05 March 2013, 12:51 CET

EU finance ministers said Tuesday there was very little room for manoeuvre on plans to cap banker bonuses, leaving Britain's George Osborne looking isolated at talks on key new regulations for the banking industry.

Bid to curb bank bonuses returns to haunt EU — 05 March 2013, 11:13 CET

European Union finance ministers face a potentially stormy Tuesday session fighting over whether curbs on bankers' bonuses should be written into key new legislation controlling the security of banks' core reserves.

Bank of Ireland slumps into EUR 1.8 bn annual loss — 04 March 2013, 18:02 CET

State-rescued Bank of Ireland said on Monday that it plunged into the red in 2012 after it was hit by a soaring level of bad debts.

Brussels welcomes Swiss vote to curb executive pay — 05 March 2013, 12:54 CET

The European Commission on Monday welcomed a Swiss vote to curb executive pay as reflecting a change in European attitudes only days after an EU accord to limit bank bonuses.

Spain's bailed-out Bankia posts EUR 19 bn loss — 28 February 2013, 14:06 CET

Bailed-out Spanish banking giant Bankia suffered a loss of 19 billion euros in 2012, it said in an earnings statement Thursday.

Spain's Bankia posts EUR 19 bn 2012 loss — 28 February 2013, 11:06 CET

Bailed-out Spanish banking giant Bankia suffered a loss of 19 billion euros ($25 billion) in 2012, it said in an earnings statement Thursday.

EU to cap banker bonuses, tighten regulation — 28 February 2013, 16:03 CET

The European Union has agreed new rules that will cap bankers' bonuses, blamed by critics for helping to drive the global financial crisis but also defended as crucial for the smooth working of the banking system.

Van Rompuy sees 2012 as turning point in eurozone crisis — 27 February 2013, 12:29 CET

EU president Herman Van Rompuy described 2012 as the "turning point" for the crisis-hit eurozone on Wednesday, but also urged bloc members to continue progress towards a banking union.

EU says Libor scandal amounts to anti-trust offence — 22 February 2013, 20:24 CET

EU Competition Commissioner Joaquin Almunia warns banks and traders that any involvement in the Libor rate-rigging scandal would be considered a serious prejudice to competition.

EU clears EUR 18 bn state guarantee for French bank — 21 February 2013, 14:50 CET

European Union watchdogs gave six-month temporary approval on Thursday for an 18-billion-euro French state guarantee to real estate bank Credit Immobilier de France.

France's Credit Agricole posts record EUR 6.47 bn loss in 2012 — 20 February 2013, 11:32 CET

French bank Credit Agricole said Wednesday it posted a record 6.47 billion euro loss for 2012 after booking a massive fourth quarter charge but was now "turning the page".

EU must press ahead with bank oversight reforms: report — 13 February 2013, 22:58 CET

Europe has made real progress in setting up a single bank supervisory system but it is only a first step and provisions for winding up failed lenders and protecting depositors are urgently needed alongside it, a report prepared for the International Monetary Fund warned Wednesday.

Slovenia, Croatia ministers close to deal over bank row — 06 February 2013, 23:09 CET

The foreign ministers of Slovenia and Croatia said on Wednesday they had agreed on a possible solution to a long-standing dispute over bank savings which, if accepted by their governments, would help open the way for Croatia's EU accession in July.

Iceland's hard line on Icesave pays off — 04 February 2013, 12:17 CET

Iceland celebrated a major victory this week in its four-year battle with Britain and the Netherlands over failed bank Icesave when a European court vindicated its controversial stance that taxpayers don't have to pay for bankers' mistakes.

Credit Agricole unveils EUR 2.68 bn charge — 01 February 2013, 12:26 CET

France's Credit Agricole bank on Friday said that its fourth quarter 2012 results will be hit by a 2.68-billion-euro charge that reflects tighter regulations and the current financial climate.