Banking in the European Union

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

Bank of Cyprus posts EUR 134m H1 post-tax loss — 31 August 2012, 00:11 CET

The Bank of Cyprus, the island's largest lender, said on Thursday it posted post-tax losses of 134 million euros in the first six months because of provisions for bad loans and a Greek debt write-off.

Time to speed up bank supervision negotiations: Commission — 29 August 2012, 18:06 CET

The European Commission said on Wednesday that Europe must speed up negotiations over eurozone banking supervision at the heart of political leaders' latest bid to resolve the debt crisis.

World's oldest bank posts EUR 1.6bn first-half loss — 28 August 2012, 21:47 CET

Italy's Banca Monte dei Paschi di Siena, the world's oldest bank, on Tuesday posted a loss of 1.617 billion euros for the first half of 2012 after taking writedowns on troubled assets.

Deutsche Bank axes 1,900 jobs in EUR 3.0bn cost-cut drive — 31 July 2012, 15:46 CET

Deutsche Bank, Germany's biggest lender, said Tuesday it planned to slash 1,900 jobs, mainly outside Germany, as part of a 3.0-billion-euro ($3.7-billion) cost-cutting programme.

Europe's top banks feel pain from debt crisis — 31 July 2012, 19:57 CET

Europe's biggest banks on Tuesday took massive hits on their second-quarter profits as the eurozone debt crisis sliced into earnings and added to pressure to boost their capital defences.

EBRD cuts East Europe growth forecasts on euro crisis woes — 25 July 2012, 12:20 CET

The European Bank for Reconstruction and Development has slashed its economic growth forecasts for the ex-Soviet block, blaming the "negative impact" of the unresolved eurozone debt crisis.

State-rescued LBG bank clinches deal to sell branches — 19 July 2012, 11:04 CET

Britain's retail bank sector faced further shake-up Thursday as state-rescued Lloyds Banking Group agreed to sell 632 branches at a loss to The Co-operative Group after an EU competition ruling.

Finland parliament 'sure' to ratify Spain bank deal — 18 July 2012, 20:37 CET

Finland's parliament will pass an accord on helping Spain's struggling banks Friday, when eurozone finance ministers are due to sign off on the deal, Prime Minister Jyrki Katainen told AFP.

No risk of losses on Spain bank rescue: minister — 12 July 2012, 23:22 CET

Spain's creditors do not risk losing money on rescuing the country's banks, which only need 62 billion euros of the 100 billion on offer, the finance minister said in an interview to be published Friday.

European banks broadly on target for raising capital: EBA — 12 July 2012, 17:00 CET

Leading European banks are broadly on track for boosting their capital base to cushion against crises and the total funds raised exceed the target, the EBA oversight body said on Wednesday.

Finland refuses to pay for other countries' debt: minister — 06 July 2012, 16:27 CET

Finland has no intention of footing the bill to cover the debt of other countries in the eurozone, Finnish Finance Minister Jutta Urpilainen said in a newspaper interview Friday.

Eurozone opens door to direct aid for struggling banks — 29 June 2012, 05:37 CET

Eurozone leaders struck a deal Friday opening the door for its rescue funds to help bring down borrowing costs of nations in trouble and directly recapitalise banks, the EU president said.

EU approves Spanish state aid, guarantees for Bankia — 27 June 2012, 11:57 CET

The European Union's executive arm approved on Wednesday a 4.5-billion-euro package of Spanish state aid and a 19-billion-euro guarantee from Madrid for troubled Bankia.

EU proposes banking union as 'big leap forward' to save bloc — 26 June 2012, 18:50 CET

With the European Union facing its biggest crisis in 60 years, Brussels proposed Tuesday taking "a big leap forward" to save the troubled bloc by setting up a single banking union.

World's top banks hit with Moody's downgrade — 22 June 2012, 10:52 CET

The health of 15 of the world's largest financial institutions has been called into serious question after Moody's downgraded their credit ratings, citing risk exposure and the eurozone crisis.

Eurozone crisis spreads as Spain fights bailout fears — 20 June 2012, 21:51 CET

The eurozone crisis took a new twist on Wednesday as a diplomat said Cyprus would soon request aid from Russia and EU partners, while Spain battled fears that it will need a full debt rescue.

Bank reforms condition for Spain aid: Merkel — 12 June 2012, 15:07 CET

Any funds for Spain will be tied to reforms of its banking sector, German Chancellor Angela Merkel said on Tuesday, adding the situation was different for previous bailouts of Portugal, Ireland or Greece.

IMF will help supervise aid to Spanish banks: Almunia — 11 June 2012, 16:27 CET

The International Monetary Fund will help European officials monitor Spain's multi-billion euro banking bailout, European Union Competition Commissioner Joaquin Almunia said Monday.

Eurozone can foot the bill of Spain bailout, for now — 11 June 2012, 15:22 CET

As Spain joins Greece, Ireland and Portugal in the queue for EU handouts, experts said the total bill of half a trillion euros can be met by the bloc's existing rescue funds, at least for the time being.

EU insists Spain wanted IMF to monitor aid — 11 June 2012, 14:52 CET

The European Commission insisted Monday that Spain asked the IMF to contribute monitoring expertise to an aid programme agreed by eurozone finance ministers for Spain's financial sector.

ECB says will continue to provide banks with liquidity — 06 June 2012, 15:12 CET

The European Central Bank said Wednesday it will extend its measures for the provision of unlimited liquidity to eurozone banks at least until the end of this year.

Irish PM writing to EU leaders on banking crisis — 06 June 2012, 14:32 CET

Irish Prime Minister Enda Kenny is writing to his fellow EU leaders Wednesday urging a political resolution of the bloc's banking crisis, he told parliament.

Germany opposes European banking deposit guarantee — 06 June 2012, 14:27 CET

The German government opposes a cross-border European banking deposit guarantee before other "important steps towards integration" have been taken, the government spokesman said Wednesday.

Merkel allies attack European 'banking union' plan — 06 June 2012, 13:47 CET

German Chancellor Angela Merkel's coalition partners came out against the idea of an EU banking union Wednesday, as the European Commission prepared to unveil new plans for winding up failing banks.

EU makes first step towards disputed banking union — 06 June 2012, 15:48 CET

As urgency mounts over Spain's finances, the EU on Wednesday unveiled new plans for winding up failing banks, a first step towards a controversial eurozone "banking union".