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In This List

Monday's headlines, Financials edition


Insight Weekly: US inflation soars; real estate faces slowdown; megadeals drive tech M&A


Commercial Banking: June 22nd Edition


Insight Weekly: Path to net-zero; US manufacturing momentum; China's lithium M&A frenzy


Commercial Banking Newsletter June Edition - 2022

Monday's headlines, Financials edition

European Banks Book $27 Billion Profit in Tax Havens, Oxfam Says Bloomberg News
Mutual funds have exposure to controversial weapons Financial Times
Nearly 7,000 European organizations call for tax on financial transactions Expansión
Banks reduce their compliance teams Börsen-Zeitung
Angeloni (ECB), risks and benefits of normalization of rates Milano Finanza
Number of newly-minted millionaires at Europe's big banks is shrinking Reuters
World Bank rep calls for supervision of index-insurance Artemis


May's Post-Brexit Regulation Plans Readied for Quick Start Bloomberg News
PM to reveal plans for post-Brexit Great Repeal Bill on Thursday City A.M.
EU looks at revealing negotiating positions for Brexit Financial Times
May offers Sturgeon more power to avert vote The Times
PM heads to Scotland for Sturgeon talks before Article 50 is triggered City A.M.
StanChart and Barclays face CEO pay criticism Financial Times
Bank's spending on legal fees triples The Times
Britain's poorest, excluded from banking, turn to high-cost credit - report Reuters
Insurers gear up for portfolio transfers and examine contract wordings as Brexit looms Insurance Day
Over one third of insurance jobs at risk from robots Post
Towergate promotes Erotocritou to deputy chief financial officer Post
Half of motorists expect premiums to rise at renewal Post

Alliance Trust
Alliance Trust looks to shake up as fund stutters Financial Times

Allied Irish Banks
Syndicate to advise on AIB flotation to get over €10m in fees The Irish Times

Aviva invests £4m in cancer breath tests The Daily Telegraph

Bank of Ireland
Bank of Ireland CEO Boucher to Retire After Crisis Comeback Bloomberg News
UPDATE 1-Bank of Ireland CEO Boucher to retire before year-end Reuters
Boucher to step down as Bank of Ireland CEO Financial Times
State's pay cap will narrow field to replace Bank of Ireland 'rhino' Boucher Irish Independent

Ex-Barclays Trader Tells Court Libor Emails Trivial Part of Job Bloomberg News

Co-operative Bank
Co-op Bank's reassurances fail to soothe market jitters Financial Times
Co-op Bank bondholders protect interests The Daily Telegraph
Co-op Bank crosses fingers rescue plans will take shape City A.M.

Exclusive: HSBC to boost China staff by up to 1,000 in 2017, mostly in Pearl River Delta Reuters

Lloyd's of London
Lloyd's plans Brexit move on Article 50 day Sky News
Lloyd's of London to confirm new EU location next Wednesday City A.M.

London Stock Exchange Group
LSE shareholders: no need for board overhaul if tie-up tanks The Daily Telegraph

Old Mutual
Old Mutual sells U.S. fund arm stake to China's HNA Reuters
China's HNA Buys $446 Million Stake in Old Mutual's U.S. Unit Bloomberg News
HNA buys stake in Old Mutual US asset unit Financial Times
Old Mutual agrees to sell stake in US business to Chinese firm The Times
Old Mutual sells $440m stake in asset management arm in step closer to full breakup The Daily Telegraph

Prudential CEO pay drops 30% in 2016 Post

Royal Bank of Scotland Group
RBS 'undermining' compensation scheme for group's victims The Times


Merkel's conservatives win Saarland vote in boost for national campaign Reuters
Merkel sees off Schulz challenge in state poll The Times
N26 wants to have 800,000 customers by the end of the year Handelsblatt
Dan Zilberman: "Avaloq IPO in 3 to 5 Years" finews
U.S. Banker in Swiss Banking Role finews
1875 Finance plans to expand the workforce

Allianz Group
Allianz Global describes Genmab as an attractive acquisition Børsen

Baloise launches insurance against unpleasant experiences on the Internet

Commerzbank switches to EY Börsen-Zeitung

Credit Suisse Group
Credit Suisse pays out SFr250m to retain top bankers Financial Times
Credit Suisse sets up special bonus fund to cling onto its top bankers City A.M.
Credit Suisse CEO pockets $12 million despite back-to-back losses Reuters
Credit Suisse Chief Gets Pay Bump Despite Loss in 2016 The Wall Street Journal
Loss of Credit Suisse increases Börsen-Zeitung
Credit Suisse optimistic for M&A Börsen-Zeitung

Deutsche Bank
Reviving Deutsche in US is priority for CEO Cryan Financial Times

Deutsche Börse
Deutsche Boerse extends finance head's contract Reuters

EFG International
EFG International: New entry in management

KfW bank mistakenly transfers billions of euros Financial Times
A German Bank Accidentally Transferred $5.4 Billion to Four Other Banks Bloomberg News

Ostsächsische Sparkasse Dresden
Sparkasse Dresden increases net interest income Börsen-Zeitung

Sparkasse Krefeld
Sparkasse Krefeld declines profit Börsen-Zeitung

UBS Group
UBS set to secure a Very good role The Times
Former UBS MD Joins Legg Mason finews

Vienna Insurance Group
VIG records EUR 3.5 mln profit in Romania in 2016 Romania Insider
VIG quadruples the profit Börsen-Zeitung

Volkswagen Bank
Reinhart assumes head of Volkswagen Bank Börsen-Zeitung

Vontobel relies on Germany Börsen-Zeitung


ING Groep
ING Direct will implement ATMs in offices of Nationale-Nederlanden in Spain Europa Press


S&P ratifies Bankia and BFA ratings and sees "little execution risk" in the merger with BMN Europa Press
Nuria Mas, former Lehman Brothers, new director of the Banco de España El País
The Council of Ministers appoints Nuria Mas adviser of the Banco de España Expansión
Investors show their preferences: Caixa Geral has less risk than Popular Expansión
Rural cajas go to Bantierra's rescue with purchase of assets for 328 million El Mundo
Openbank prepares a new platform to position itself as a leading player in digital banking Europa Press

ABANCA Corporación Bancaria
A Novacaixa executive will have to pay back 5.6 million of his pre-retirement Expansión

Banco Mare Nostrum
BMN hires Alantra, Deutsche Bank and Uría Menéndez for merger with Bankia Europa Press
BMN lost 39 million in 2016 for extraordinary provisions Expansión

Spanish court throws out Iberdrola claim against Bankia over IPO Reuters
Ernst & Young, Garrigues, Accenture and Morgan Stanley will advise Bankia on its merger with BMN Expansión
Goirigolzarri undertakes to defend the interests of minority shareholders in the Bankia-BMN merger Europa Press
Bankia has already repaid 127 million in mortgage-floor clauses El País
Deloitte and Bankia's auditor ask Judge Andreu for his disqualification Expansión

Caixa Geral de Depósitos
The Portuguese Government guarantees that the recapitalization of Caixa Geral will not jeopardize the exit of Portugal from the deficit procedure Expansión

Ibercaja Banco
Ibercaja amortizes 223.6 million in 'CoCos' and reintegrates public aid received by Caja3 Europa Press

Novo Banco
Portugal minister sees "good deal" with Lone Star for Novo Banco Reuters

Unicaja Banco
Spanish bank Unicaja eyes listing amid flurry of IPOs Reuters


EU's Juncker pushes for preliminary deal on Greek bailout by April 7 Reuters
Greece to Break Off Face-to-Face Talks as Issues Persist Bloomberg News
Greek gov't torn between making concessions for deal with creditors and letting talks drag Ekathimerini

Banca Carige
Carige: Judge, Malacalza can vote ANSA

Banco BPM

Equita, Banco BPM will benefit from more than Tltro Milano Finanza


Most Concentrated EU Bank Market Sets Battle Lines on New Buffer Bloomberg News
Danish large banks used by corrupt clients Berlingske Business
BankInvest change chief strategist FinansWatch
Pension banking worries supervision FinansWatch

Danske Bank
Danske Bank, the country's most digital-satisfied customers FinansWatch

Norwegian bank DNB sells its share of Dakota pipeline funding Reuters


Turkey may hold a referendum on EU membership E15
CB will give banks experiencing difficulties, liquidity Vedomosti
Pekao bank purchase unimpeded by PZU mgmt beheading; buyers have full financing secured - PFR chief PAP
NBP: FX loans are the main source of risk for financial system stability Warsaw Business Journal
Poland sees "certain degree" of costs to banks in FX-mortgage deals; can use dividends to force pace PAP
Polish banks face more consolidation in 2017 – KNF Warsaw Business Journal
Hungary appears to be an investment haven - SocGen
Regulator supports Swiss investor in taking over Romanian insurer City Insurance Romania Insider

Bank Pocztowy
Bank Pocztowy to launch EnveloBank in H2 Warsaw Business Journal

Bank VTB 24
"VTB 24" has increased net profit in 2016 more than 14 times Vedomosti

PKO Bank Hipoteczny

PKO BH with €500 mln bond issue Warsaw Business Journal
Update: PKO BH mortgage bank places EUR 500 mln worth covered bonds, margin 27 bps above mid-swap PAP

Sberbank of Russia
In Ukraine, the five branches of the Savings Bank suspended work Vedomosti

S&P changed the "negative" outlook on VEB's ratings with "developing" Vedomosti

The Daily Dose Europe "Headlines" edition aggregates banking, financial services and insurance headlines from the websites of a limited number of major European publication titles and newswires, with an editorial deadline of 6 a.m. London time. Some external links may require a subscription. Language translations to English are provided by an automated service and may not be entirely accurate.