BNP Paribas bags majority stake in Dutch asset manager April 1, 2022 BNP Paribas Asset Management has acquired a majority stake in Dutch asset manager and specialist lender Dynamic Credit Group. The deal brings the total assets under management to €20bn for BNP AM’s private debt and real assets investment division. BNPP’s David Bouchoucha said the deal “marks an important step” in the development of the French [...]
UK plans to sanction all Russian nationals would breach equality laws, banks say April 1, 2022 The UK government’s plans to ban Russians from holding more than £50,000 in UK bank accounts are unfeasible, banks have said. Banks have told the government that the sanctions measures put in place in response to Russia’s invasion of Ukraine would breach equality laws, which prevent discrimination on the basis of nationality. The sanctions set [...]
Peel Hunt revenue surpasses expectations despite market slowdown amid war in Ukraine April 1, 2022 Investment bank Peel Hunt has traded ahead of analyst expectations despite a slowdown in activity after Russia’s invasion of Ukraine. Its execution and trading business marked a strong end to the year while its investment banking division marked record revenues. Revenue for the full year is anticipated to stand at around £131m, the City firm [...]
EU watchdog labels crypto a financial stability risk as it mulls new rules March 31, 2022 The European Union is mulling rules to limit the exposure of banks to financial risk amid concern crypto is a threat to the economy.
OakNorth boosts profits by 70 per cent after lending surge March 30, 2022 Digital lender OakNorth boosted its profits by more than 70 per cent last year as an economic rebound from the pandemic led to a surge in business lending.
Standard Chartered to end coal financing by 2032 March 29, 2022 Asia-focused UK lender Standard Chartered said it will end legacy coal financing for its clients by 2032 as it looks to sever its remaining financial ties with the fossil fuel.
Barclays investor offloads £900m and sends shares tumbling after securities slip up March 29, 2022 Shares in Barclays have plunged this morning as a major shareholder offloaded around £900m worth of shares, just one day after a slip up on securities selling saw it book a £450m hit.
Another bad day for Barclays but it’s Staley’s shadow that looms March 28, 2022 No conspiracy, just cock-up. That seems to be the conclusion to draw from Barclays’ statement yesterday that it had managed to overshoot its regulator-agreed limits with all the reckless abandon of a student enjoying the first week of university. In this case it was the selling of complex securities rather than discount vodka shots, but [...]
Credit Suisse slashes Russian exposure as lawmakers probe sanction compliance March 28, 2022 Scandal-stricken bank Credit Suisse has announced it will stop pursuing new business in Russia and slash its current exposure to the country, as it comes under fire from US lawmakers over potential breaches of sanctions rules.
NatWest falls back into private hands after 14 years under majority taxpayer ownership March 28, 2022 NatWest has fallen back into private ownership after the state ditched more of its holdings in the high street lender, the government announced today. It is the first time since the financial crisis 14 years ago that the bank formerly known as Royal Bank of Scotland has not been majority owned by the taxpayer. The [...]