European banking correspondent
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Sep 11, 2014

Top banks reduce capital shortfall to $20 billion: BIS

LONDON (Reuters) – The world’s top banks have almost eliminated the shortfall in capital they would have if new regulations that are being phased in were in full force already.

The Bank for International Settlements (BIS) said on Thursday the world’s top 102 banks would have been 15.1 billion euro ($19.5 billion) short of capital to reach a 7 percent target for common equity at the end of December, compared with an estimated shortfall of 57.5 billion euros six months earlier.

Sep 10, 2014

Ana Botin steps into spotlight as Santander’s new boss

MADRID/LONDON, Sept 10 (Reuters) – Ana Patricia Botin has
been schooled for decades to replace her father Emilio Botin at
the helm of Santander, ensuring that Spain’s banking
dynasty will remain in charge of the euro zone’s biggest bank.

Santander’s board of directors unanimously appointed Ana
Botin as chairwoman on Wednesday, a day after her father died of
a heart attack at 79, making her the fourth generation of Botins
to run the bank.

Sep 8, 2014

RBS set to raise $4 bln from U.S. listing of Citizens

LONDON, Sept 8 (Reuters) – State-backed Royal Bank of
Scotland plans to raise up to $4 billion from the share
flotation of its U.S. bank Citizens Financial Group this month,
putting it on track to be the biggest U.S. share offering by a
bank this year.

RBS, which is 81 percent owned by the UK government after
being bailed out in 2008, has come under pressure from UK
regulators to improve its capital base and focus on its core
domestic business, and the bank had already made clear it
planned to sell up to a quarter of Citizens this year through an
initial public offer (IPO).

Sep 5, 2014

Japan’s MUFG targets U.S. deals to bulk up dollar deposits

LONDON (Reuters) – Japan’s Mitsubishi UFJ Financial Group is confident it will buy more retail banks in the United States to vault it into the country’s top 10 banks and allow it to make use of more dollar deposits, a top executive told Reuters.

MUFG, Japan’s biggest bank, wants to become one of the 10 largest U.S. banks as it seeks to grow its international business to make up for weak prospects in Japan due to an aging population.

Sep 5, 2014

Bob Diamond’s Africa bank buys stake in Nigeria’s UBN

LAGOS/LONDON, Sept 5 (Reuters) – Atlas Mara, the
African investment vehicle of former Barclays boss Bob Diamond,
said it had increased its stake in Union Bank of Nigeria
to almost 30 percent for $270 million.

The deal marks the third significant acquisition by Atlas
Mara, set up last year by Diamond and Africa-based entrepreneur
Ashish Thakkar, as it seeks to build the firm into Africa’s
leading bank. It raised $300 million last month to add to its
acquisition war chest.

Sep 4, 2014

Barclays taps vein biometrics in bank fraud fight

LONDON, Sept 5 (Reuters) – Barclays is launching a
finger scanner for corporate clients and will roll out voice
recognition for millions of retail clients next year as it steps
up use of biometric recognition technology to combat banking
fraud.

The British bank said it has teamed up with Japanese
technology firm Hitachi to develop a biometric reader
that scans a finger and identifies unique vein patterns to
access accounts, instead of using a password or PIN.

Sep 4, 2014

Bob Diamond in talks to buy stake in Nigeria’s Union Bank-source

LAGOS/LONDON, Sept 4 (Reuters) – Atlas Mara, the
African investment vehicle of former Barclays boss Bob Diamond,
is in talks to buy a $275 million stake in Union Bank of Nigeria
, a person familiar with the matter said on Thursday.

Lagos-based UBN was established as Colonial Bank in 1917,
and from 1925 until the 1970s was owned by Barclays,
the British bank that Diamond led before being ousted under a
cloud two years ago. UBN’s market capitalisation is about $850
million.

Aug 26, 2014

Atlas Mara to re-list after $300 million fundraising

LONDON, Aug 26 (Reuters) – Atlas Mara, the
investment vehicle of former Barclays boss Bob Diamond
that is aiming to be Africa’s leading bank, will re-list on
Wednesday after raising $300 million and completing a pair of
acquisitions.

Atlas Mara said last week that it had closed deals to
purchase BancABC and ADC African Development Corporation and
would apply for the re-admission of its shares, which were
suspended when the deals were announced in April.

Aug 20, 2014

StanChart’s $300 million fine raises heat on board

NEW YORK (Reuters) – British banking company Standard Chartered Plc (STAN.L: Quote, Profile, Research) will pay a $300 million penalty and suspend or exit some important businesses after failing to weed out risky transactions that could be linked to money laundering.

The civil settlement announced on Tuesday by Benjamin Lawsky, the New York State financial services superintendent, came two years after Standard Chartered agreed to pay $667 million to a variety of U.S. regulators to resolve similar charges, including $340 million to Lawsky’s office.

Aug 19, 2014

Standard Chartered to pay $300 mln for oversight shortfalls

NEW YORK, Aug 19 (Reuters) – British banking company
Standard Chartered Plc will pay a $300 million penalty
and suspend or exit some important businesses after failing to
weed out risky transactions that could be linked to money
laundering.

The civil settlement announced on Tuesday by Benjamin
Lawsky, the New York State financial services superintendent,
came two years after Standard Chartered agreed to pay $667
million to a variety of U.S. regulators to resolve similar
charges, including $340 million to Lawsky’s office.

    • 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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