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Friday's headlines, Financials edition

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Friday's headlines, Financials edition

Headcount drops to new low at world's biggest investment banks Financial News
Banks' rates trading revenues hits lowest since 2006: Coalition Reuters
Top banks' commodities revenue up 6 pct in first quarter - report Reuters
ECB Seen Offering Generous Loans to Banks to Boost Feeble Growth Bloomberg News
Draghi Succession Too Hung Up on Personalities, Jefferies Says Bloomberg News
Moody's cautions European insurers against pursuing more illiquid assets Reinsurance News

UK AND IRELAND

Japan's Biggest Bank Offers Redundancy to Hundreds of Managers in London Bloomberg News
MUFG offers all London managing directors redundancy Financial News
Irish foreign minister says new UK PM could change 'Brexit package' Reuters
U.K. Will Need Hikes If Brexit Goes Smoothly, BOE's Ramsden Says Bloomberg News
£750bn pensions group complains to FCA about fund manager 'failings' Financial News
The cost of open banking: £81m and counting Financial News
Expansion hit by productivity weakness, Bank deputy warns The Times
Savers missing out on £7bn of interest by sticking with the big banks, research suggests The Independent
Banks' tracker mortgage fines may reach €350m The Irish Times
Government to get report on potential removal of bankers' pay cap The Irish Times
Insurers take action to reward loyal customers as pressure grows Financial Times
Quinn Insurance was 'precarious' before 2010, ex-chairman says The Irish Times
Home insurance premiums drop despite higher claims Post
Hiscox launches London market cyber product Reinsurance News

Bank of Ireland Group
Former RBS executive appointed CEO of Bank of Ireland's UK arm The Irish Times

Barclays
Staley defies Bramson in Barclays' Asian investment bank revival Reuters

BCP Asset Management
Irish investors consider €238m sale of De Beers' Mayfair flagship The Irish Times

De La Rue
De La Rue shares plunge after CEO resigns and profit falls Sky News
De La Rue chief Martin Sutherland steps down after profit warning The Times

Friends First Life Assurance
Davy stalls Friends First office plan Irish Independent

HSBC
HSBC Plans Hundreds of Investment Bank Job Cuts in Cost Push Bloomberg News
HBSC to cut hundreds of jobs by year-end: source Reuters
HSBC to cut hundreds of investment bank jobs Financial Times

Metro Bank
Metro Bank shares slide as fraud investigations launched The Guardian
US law firms turn fire on Metro Bank The Times

National Asset Management Agency
Irish 'bad bank' surplus estimate hits $4.45 billion on property surge Reuters
Nama to deliver €4bn payout to Government Irish Independent
Nama expects to hand over its €4bn lifetime surplus to the State by 2021 The Irish Times

Permanent TSB Group
UPDATE 1-Irish bank PTSB hit with record fine for mortgage overcharging Reuters
Irish lender Permanent TSB fined €21m after overcharging scandal Financial Times
PTSB fined €21 million over 'unacceptable harm' caused by tracker mortgage scandal The Irish Times

R Raphael & Sons
Raphaels Bank fined £1.9m for poor outsourcing controls Financial Times
UPDATE 1-UK regulators fine Raphaels Bank 1.89 mln stg over card payment failure Reuters

Sanlam Private Investments Wealth Management (UK)
T Rowe recruits Sanlam's global equity chief Financial News

Talbot Underwriting
AIG's Talbot restructures with closure of Australia & Lloyd's China units Reinsurance News

GERMANY, SWITZERLAND AND AUSTRIA

ECB praises extra buffers for German banks Börsen-Zeitung
Brigitte Bierlein appointed interim Austrian chancellor Financial Times
Austria gets first woman chancellor after video scandal BBC News

Arag Holding
Arag boss names as successor Renko Dirksen Börsen-Zeitung

Commerzbank
Commerzbank could be fined over late strategy disclosure: Handelsblatt Reuters
Bafin threatens Commerzbank with million fine Handelsblatt

Deutsche Bank
MOVES- Deutsche Bank hires Macchia for loan sales Reuters
MOVES-EM traders depart Deutsche Bank Reuters

DZ Bank
DZ Bank manages a brisk start Börsen-Zeitung
DZ Bank worried about politics Börsen-Zeitung

Munich Re
Munich Re views cyber as an opportunity for "sustainable new business": Jurgen Reinhart Reinsurance News

FRANCE AND BENELUX

MaFrenchBank in the starting blocks L'Agefi
French insurance leads the race in the eurozone L'Agefi

BNP Paribas
BNP Paribas opens strategic discussions on the sale of its retail banks in Guinea, Mali and Burkina Faso Agence Ecofin

BNP Paribas Cardif
BNP Paribas Cardif strengthens its green investments L'Agefi

Crédit Agricole
MOVES-Boskamp joins Credit Agricole Reuters

SPAIN AND PORTUGAL

The National Court confirms the file of the investigation against Mario Conde for money laundering Expansión
Portugal raises Rmb2bn from 'Panda bond' sale Financial Times

Banco de Sabadell
Sabadell executes the sale of 40% of Ribera Salud Expansión

Banco Mediolanum
Igor Garzesi, new CEO of Banco Mediolanum Expansión

Banco Santander
Santander will sell Mapfre 50.01% of Global Seguros for 82 million Expansión
Santander will consider lowering the 3,713 dismissals planned in the ERE El País
The unions ask Santander early retirement with 80% salary Expansión
Banking unions to negotiate wage increase with APB Jornal Económico

Bolsas y Mercados Españoles
BME calls for measures to encourage investment in small businesses Expansión

Caixa Económica Montepio Geral
Banco Montepio earns 6.5 million euros in the first quarter Jornal Económico
Banco Montepio's business is stagnant. Profit only grows with the help of impairments Expresso

ITALY AND GREECE

Investors lap up Italian debt despite European Commission warning Financial Times
Salvini Ready to End Coalition Unless Five Star Plays Ball Bloomberg News
Insurance funds: Reduced revenue, increased spending in the first quarter Kerdos
To more expensive charges for ATM withdrawals from other banks Naftemporiki

Alpha Bank
Greece's Alpha Bank swings to Q1 profit on lower bad loan provisions Reuters
Alpha Bank: More Red Loan Settings Kerdos

Eurobank Ergasias
Eurobank reports lower y/y Q1 profit, loan-loss provisions ease Reuters
Eurobank: Under 5% the CGC and RWC rates Kerdos

Intesa Sanpaolo
Intesa Sanpaolo agrees with unions on 1,600 voluntary job layoffs Reuters

Piraeus Bank
Piraeus Bank: Employees' employment and social security rights will be safeguarded Naftemporiki
What did Piraeus - OTOE agree to the employees of the bank Kerdos

NORDIC COUNTRIES

Danske Bank
New Chairman of the Board: Danske Bank's previous management failed Finans

Nordea Bank
Nordea's Swish problem solved SvD Näringsliv

EASTERN EUROPE

Russia cenbank, ahead of board meeting, says rate cut possible in Q2-Q3 Reuters
Foreigners increased holdings of Russian OFZ bonds in May - c.bank Reuters
Romanian govt waters down capital requirements for pension funds Reuters
Data security fears hinder spread of online banking services Budapest Business Journal
Hungary confirms introduction of retirement bond in autumn Portfolio.hu
The asset size of the banking sector was 4,29 trillion TL Hürriyet
Banking sector deposits increased Hürriyet

Getin Noble Bank
Getin Noble Bank suffers PLN 158 mln attrib. net loss in Q1 vs PLN 113 mln loss expected PAP
Poland's Getin Noble expects result of investor search by end of June Reuters
Getin Noble Bank believes it could restore capital on own - CEO PAP
Getin Noble Bank says white knight now only hope for recovery; Idea Bank merger not enough PAP
Getin Noble Bank lowers deposit acquisition cost to 2.2% in Apr'19 from 3.4% in Dec'18 - CEO PAP
Update: Getin Noble Bank expects further cut in deposit acquisition cost below 1.8% PAP

Idea Bank
Idea Bank hopes for "significantly better" results in coming quarters PAP

MKB Bank
MKB Bank expects its shares to start trading in Budapest on June 14 Reuters

VTB Bank
Russia's VTB posts 16% fall in first quarter profit Reuters
Russia's VTB cuts 2019 net interest margin forecast to 3.5% Reuters
Slovenia's Mercator secures refinancing with Russian VTB bank Reuters

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. Language translations to English are provided by an automated service and may not be entirely accurate.

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