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Ageas, BayernLB post Q1 results; CYBG says loss won't affect Virgin Money plans

* Outgoing ECB Vice President Vítor Constâncio told the Financial Times that some of the eurozone's southern members, such as Spain, Greece and Portugal, have done enough to reform their economies and reduce risk in their financial systems for the EU to accelerate its banking union project.

UK AND IRELAND

* CYBG PLC CFO Ian Smith said the bank's results for the six months to the end of March will not affect deal plans with Virgin Money Holdings (UK) PLC, The Times reported. CYBG reported an unaudited after-tax statutory loss attributable to equity holders of £76 million for the period, compared to a profit of £30 million a year earlier.

* The U.S. Federal Reserve Board has terminated a cease and desist order issued to Barclays PLC London-based unit Barclays Bank PLC and its New York branch in August 2010. The order was related to the bank's compliance with U.S. economic sanctions.

* AssuredPartners London agreed to acquire Lloyd's of London broker B&W Brokers Ltd., subject to regulatory approval.

* Helena Morrissey, head of personal investing at Legal & General Group PLC's Legal & General Investment Management Ltd., is expected to outline plans tomorrow for an index fund that will invest in U.K. companies based on gender diversity across their workforce, sources told Sky News.

* Aspen Insurance Holdings Ltd. has applied for an authorization to establish a new insurance subsidiary in Dublin.

GERMANY, SWITZERLAND AND AUSTRIA

* Bayerische Landesbank AöR reported first-quarter consolidated profit after noncontrolling interests of €181 million, compared to €186 million in the same period of 2017.

* Germany's Federal Court of Justice affirmed a three-year prison sentence for Helmut Hohnholz, Deutsche Bank AG's former regional sales manager in its global markets division, for his involvement in a tax evasion scheme related to carbon-emissions trading in 2009 and 2010, Reuters wrote.

* Shareholder advisory service Hermes Equity Ownership Services Ltd. recommended that shareholders of Deutsche Börse AG re-elect Chairman Joachim Faber, but just for a limited period to allow an orderly succession at the top of the German exchange operator in 2019, Financial Times wrote.

* Banque Lombard Odier & Cie SA's investment management unit is taking over €236 million in AUM from the asset management unit of Credit Suisse Group AG to create a new fund focused on the luxury goods industry, Finews wrote.

* Hypo Real Estate Holding GmbH sold 16.5% in stakes it held in Deutsche Pfandbriefbank AG for €287 million, Handelsblatt wrote.

* Uniqa Insurance Group AG launched a new subsidiary called Uniqa Ventures GmbH, which will focus on providing risk capital for startups in fintech, healthtech, smart home and mobility.

FRANCE AND BENELUX

* Belgian insurance firm Ageas SA/NV reported first-quarter net profit attributable to shareholders of €247.7 million, up from €110.2 million a year ago.

* CNP Assurances SA reported first-quarter attributable net profit of €313 million, compared to €302 million in the same period in 2017.

* Paris wants to strengthen the equivalence process in Europe for investment firms, according to a document seen by L'Agefi and recently sent to the EU 27 members.

* Barclays' former French unit, taken over last year by private equity fund AnaCap, has been renamed as Milleis Banque, Les Echos and L'Agefi reported.

SPAIN AND PORTUGAL

* Spain's Abanca Corporación Bancaria SA will focus its Portuguese business on private and corporate banking following its purchase of Deutsche Bank's operations in the country, Jornal de Negócios and Jornal Económico reported. Chairman Juan Carlos Escotet said the intention was to grow organically but added that the bank was "always open to opportunities for nonorganic growth." The bank's operations in Portugal will be headed by Portuguese banker Pedro Pimenta.

* Banco de Sabadell SA has completed the divestment of all its hotels with the sale of its final 11 establishments, in which it had invested around €35 million, Europa Press wrote.

* Non-performing loans held by Portuguese banks continued to shrink as a percentage of total credit in 2017, though lenders still hold €37 billion in bad loans, according to the latest central bank data, Jornal de Negócios reported.

* Portugal's central bank has approved the new management line-up at Caixa Económica Montepio Geral caixa económica bancária SA, including new CEO Carlos Tavares, Jornal Económico and Jornal de Negócios reported.

ITALY AND GREECE

* Banca Carige SpA has received some 30 separate offers for its €1.4 billion Isabella portfolio of unlikely to be paid loans, 40% of which are in the shipping sector, Il Messaggero wrote, noting in particular that York Capital and Cerberus are interested in those of Marina Genova while Fortress and Blackstone are interested those of shipping group Ignazio Messina.

* Banca IFIS SpA bought NPL servicing company FBS in a €58.5 million deal, Il Sole 24 Ore reported. The Italian lender will acquire 90% of FBS and €1.3 billion of soured loans, Reuters said.

* The Greek government and representatives from the EU and IMF will recommence discussions today on Greece's final bailout review, with an aim to conclude it on a technical level by the May 24 meeting of eurozone finance ministers, Reuters wrote.

* Meanwhile, an insider told Reuters that Greece's largest banks must not relax and stick to their commitment of reducing nonperforming loans, following a positive outcome of the ECB's stress test.

NORDIC COUNTRIES

* Swedish central bank Deputy Governor Cecilia Skingsley told Bloomberg News that a potential increase of interest rates in the country as early as October is in line with a policy laid out by the regulator.

* Danske Bank A/S' insurance company, Danica, has been found not guilty of bad practices by Denmark's Supreme Court, Finans reported. A customer took the company to court, claiming that an incorrect calculation basis in a coverage statement is binding.

* One million customers of Nordea Bank AB (publ) in Norway, Sweden and Finland experienced problems with logging onto its online banking platform yesterday, Svenska Dagbladet reported.

EASTERN EUROPE

* Turkish President Recep Tayyip Erdogan signaled his intention to exert greater control over monetary policy if he wins snap elections June 24, causing the lira to drop in value along with other emerging-market currencies, the Financial Times reported.

* Hungary-based OTP Bank Nyrt. plans to discontinue its digital Touch Bank project in Russia and merge it into its Russian unit JSC OTP Bank, Kommersant reported.

* DenizBank AS CEO Hakan Ates hopes the sale of the lender could be finalized in May, Reuters reported.

* The audit of financial reports of PAO Rosgosstrakh showed that a number of the company's assets had been overvalued, which resulted in the insurer having to reassess its reserves, Vedomosti reported.

* Troubled Polish debt collector GetBack SA estimates it consolidated net loss for 2017 will amount to around 1 billion Polish zlotys, news agency PAP said. The company once again moved the date for the publication of its 2017 annual report, this time from May 15 to May 21.

* The Kazakh central bank plans to introduce a risk-based approach and strengthen its supervisory powers over the banking sector, with legislative amendments approved by the lower house of the parliament, Kapital.kz reported, citing the regulator's deputy head, Oleg Smoly?kov.

IN OTHER PARTS OF THE WORLD

Asia-Pacific: Société Générale eyes China securities JV; Indian bank removes CEO amid scandal

Middle East & Africa: US sanctions Iran central bank head; Abraaj moves to reassure creditors

Latin America: BNDES, Banrisul post higher Q1 profits; 8 Brazilian banks face charges

North America: PHH faces 2nd suit against Ocwen deal; New South Carolina bank raises $34M

North America Insurance: 271 individual LTC rate hikes OK'd in Q1; Travelers' cat bond may upsize

NOW FEATURED ON S&P GLOBAL MARKET INTELLIGENCE

Allianz could miss ROE target but CFO is 'highly confident' of underwriting goal: Giulio Terzariol said during a first-quarter earnings call that the German insurer would be "close to" yet "slightly below" its 13% return on equity target for 2018.

Deadline looms for forex players to sign conduct code: Participants in the foreign exchange market have until May 25 to sign up to a new code of conduct amid suggestions that some banks could curtail bonuses for those who deviate from its principles.

Commerzbank's stock gains on 2018 dividend promise, lower loan loss provisions: The market appeared to welcome the German lender's plan to resume dividend payments in 2018, after a two-year hiatus, with its shares trading up 3.34%.

US sanctions biggest challenge for RBI's Russian ops, CEO says: "The way the U.S. sanctions have been established creates quite a lot of uncertainty," the CEO of Austria's Raiffeisen Bank International said during a first-quarter earnings call.

Crédit Agricole expects Italian acquisitions to break even in Q2: Merging the three recently acquired Italian savings banks with Crédit Agricole Cariparma would cut the cost base of the three banks by 25% and cross-selling would boost revenue by 20%, according to the bank's CFO Jérôme Grivet.

Sheryl Obejera, Arno Maierbrugger, Meike Wijers, Esben Svendsen, Beata Fojcik, Yael Schrage, Stephanie Salti, Sophie Davies and Helen Popper contributed to this report.

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