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Oct 30, 2014

Barclays sets aside $800 mln for FX probe, third-quarter profits up

LONDON (Reuters) – Barclays Plc has set aside 500 million pounds ($799 million) to cover potential fines for manipulating currency markets, taking the shine off a rise in third quarter profits as its retail business performed well and costs were cut.

The British bank said on Thursday that it had set aside cash for the “ongoing investigations into foreign exchange with certain regulatory authorities”, joining other big banks signaling a settlement is near.

Oct 30, 2014

Barclays sets aside $800 mln for FX probe, Q3 profits up

LONDON, Oct 30 (Reuters) – Barclays Plc has set
aside 500 million pounds ($799 million) to cover potential fines
for manipulating currency markets, taking the shine off a rise
in third quarter profits as its retail business performed well
and costs were cut.

The British bank said on Thursday that it had set aside cash
for the “ongoing investigations into foreign exchange with
certain regulatory authorities”, joining other big banks
signalling a settlement is near.

Oct 28, 2014

Standard Chartered shares tumble to five-year low as profit slumps on bad debts

HONG KONG/LONDON (Reuters) – Asia-focused bank Standard Chartered Plc (STAN.L: Quote, Profile, Research, Stock Buzz) warned investors that profits would fall in the second half of this year, after quarterly earnings were hit by a surge in bad loans and higher regulation and compliance costs.

Standard Chartered said that as bad debts rise in key markets like India and China, it will step up its restructuring plan and aims to cut $400 million more from costs next year.

Oct 28, 2014

StanChart shares tumble to five-year low as profit slumps on bad debts

HONG KONG/LONDON (Reuters) – Asia-focused bank Standard Chartered Plc warned investors that profits would fall in the second half of this year, after quarterly earnings were hit by a surge in bad loans and higher regulation and compliance costs.

Standard Chartered said that as bad debts rise in key markets like India and China, it will step up its restructuring plan and aims to cut $400 million more from costs next year.

Oct 28, 2014

StanChart shares tumble to 5-yr low as profit slumps on bad debts

HONG KONG/LONDON, Oct 28 (Reuters) – Asia-focused bank
Standard Chartered Plc warned investors that profits
would fall in the second half of this year, after quarterly
earnings were hit by a surge in bad loans and higher regulation
and compliance costs.

Standard Chartered said that as bad debts rise in key
markets like India and China, it will step up its restructuring
plan and aims to cut $400 million more from costs next year.

Oct 28, 2014

Lloyds dealt new blow with $1.5 billion mis-selling charge

LONDON (Reuters) – Britain’s Lloyds Banking Group (LLOY.L: Quote, Profile, Research, Stock Buzz) has taken another 900 million pound ($1.5 billion) charge to compensate customers mis-sold loan insurance, delivering a further blow to the bank which only narrowly passed a European health check.

The new charge on Tuesday took the bank’s total cost to cover the mis-selling of payment protection insurance (PPI) to 11.3 billion pounds, more than any other bank and close to half of the total bill for the industry.

Oct 28, 2014

Lloyds dealt new blow with mis-selling charge

LONDON (Reuters) – Lloyds Banking Group has taken another 900 million pound charge to compensate customers mis-sold loan insurance, delivering a further blow to the bank which only narrowly passed a European health check.

The new charge on Tuesday took the bank’s total cost to cover the mis-selling of payment protection insurance (PPI) to 11.3 billion pounds, more than any other bank and close to half of the total bill for the industry.

Oct 28, 2014

Lloyds dealt new blow with 900 million pound mis-selling charge

LONDON (Reuters) – Britain’s Lloyds Banking Group has taken another 900 million pound ($1.5 billion) charge to compensate customers mis-sold loan insurance, delivering a further blow to the bank which only narrowly passed a European health check.

The new charge on Tuesday took the bank’s total cost to cover the mis-selling of payment protection insurance (PPI) to 11.3 billion pounds, more than any other bank and close to half of the total bill for the industry.

Oct 27, 2014

Under full capital rules, 36 EU banks would have flunked test

LONDON (Reuters) – Europe’s banking health check has shown countries and lenders are implementing global capital rules at vastly different speeds, and 36 firms would have failed if new capital rules were fully applied.

The euro zone is lagging behind countries outside the bloc in implementing the Basel III capital rules that are due to come into full force in 2019, potentially adding another challenge for the European Central Bank when it takes over supervision of euro zone lenders next month.

Oct 27, 2014

Monte dei Paschi drags Europe’s banks lower after stress test

LONDON, Oct 27 (Reuters) – Shares in Italy’s Monte dei
Paschi slumped on Monday after an industry health
check found it had the biggest capital hole to fill among
European banks.

In all, 25 euro zone banks failed landmark health checks
that were released on Sunday, and 14 still had a capital
shortfall at the end of September, although the results were
generally better than analysts had expected.

    • About Steve

      "Responsible for overseeing coverage of the European bank sector and direct coverage of the international UK-based banks, based in London. Have been in current role for three years, and for previous three years was UK banking reporter. Have over 15 years experience as a financial newswire journalist in London and New York."
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