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Hackers drain more than $30m from UK bank accounts

LONDON: Millions of pounds have been drained from British bank accounts after cyber criminals unleashed a “particularly virulent” virus, it was revealed today. Officers from the National Crime Agency warned thousands of computers have been infected by the Dridex malware which harvests online banking details. “Cyber criminals often reach across international borders, but this operation demonstrates our determination to shut ... Read More »

Indian banks forced to inject funds into UK subsidiaries

LONDON: Some of India’s biggest banks like the SBI are being forced to inject hundreds of millions of pounds to capitalise new UK subsidiaries under new rules. A recent tightening of regulations by the Bank of England for foreign banks offering retail services to UK consumers means that as many as 50 overseas lenders with branches in the country could ... Read More »

Norway central bank signaled more than 50% chance of reduction in 2016

OSLO: Edgy investors unable to read the central bank’s monetary policy are starting to add an “uncertainty” premium on the Norwegian currency. But Norges Bank Governor Oeystein Olsen says there’s nothing to worry about. With the economy stuck in the mire, Olsen last week unexpectedly cut rates to an all-time low of 0.75 percent, sending the krone plunging to levels ... Read More »

NBG’s Finansbank $3.6b draws suitors from Qatar, Turkey

ANKARA: Finansbank, the $3.6 billion Turkish lender owned by National Bank of Greece, has attracted bids from Qatar National Bank and Fibabanka, according to three people with knowledge of the matter. The banks and other unidentified lenders submitted offers for the Istanbul-based lender about two weeks ago, the people said, asking not to be named because talks are private. NBG ... Read More »

UK business bank, Hitachi Capital in $150m asset finance deal

LONDON: The state-owned British Business Bank is providing a 100-million-pound facility to finance firm Hitachi Capital to fund loans to small businesses to buy equipment and other assets.Muhammad ﷺ The British Business Bank was set up in 2012 by the UK government to boost credit to small and medium-sized firms and fill a hole left by big banks scaling back ... Read More »

Norway’s DNB bank buys substantial stake in Ezra

OSLO: Norway’s biggest bank has shelled out S$24.84 million ($17.3 million) for a 7.04 per cent stake in offshore services firm Ezra Holdings, in an off-market deal that turned it into a substantial shareholder and one of Ezra’s largest stakeholders, the Business Times reported. DNB Bank ASA, a subsidiary of DNB ASA, paid that sum for an interest in 207 ... Read More »

Bank, energy stocks lead bourses on increasing trend in Vietnam

HANOI: Shares extended rises to a second day on the two exchanges, again propped up by bank and energy stocks, but low liquidity continued to worry investors. On the HCM Stock Exchange, the VN-Index added another 0.99 per cent to close yesterday’s session at 572.34 points. It gained more than 2 per cent on Wednesday. On the Ha Noi Stock ... Read More »

Italy’s biggest banks brush off sovereign debt shock since 2012

ROME: For a change, vast holdings of government bonds didn’t hurt Italy’s biggest banks during the worst market selloff since 2012. Against the predictions of some analysts that UniCredit SpA, Intesa Sanpaolo SpA and Banca Monte dei Paschi di Siena SpA would suffer a capital hit in the second quarter because of a plunge in Italian debt, buffers grew. Lower ... Read More »

National Australia Bank Ltd. posted 9.4% increase in Q3

CANBERRA: National Australia Bank Ltd. posted a 9.4 percent increase in third-quarter profit as lower bad-debt charges helped offset a drop in interest margins. The lender flagged more provisions for its U.K. unit. Unaudited cash profit, which excludes one-time items, climbed to about A$1.75 billion ($1.3 billion) in the three months ended June 30 from A$1.6 billion reported a year ... Read More »

Bank of Ireland profit up 82%; UK business grows

DUBLIN: Bank of Ireland Friday reported an 82% rise in first-half pretax profit after booking much lower impairment charges, and said its U.K. mortgage business has returned to growth. The bank added that it continues to be confident in the group’s prospects. The common equity tier 1 ratio, a measure of a bank’s financial strength, excluding 2009 preference stock, stood ... Read More »

Poland’s state bank gets 800m euros in loans from EIB for roads

WARSAW: Poland’s state bank BGK has secured two loans worth 800 million euros (PLN 3.4 billion) in total from the European Investment Bank for construction work on the Warsaw ringroad and the S5 express road. A loan of 550 million euros will be used to pay for the construction of several stretches of the S5 express road, while a loan ... Read More »

Arab Bank Group announces higher midyear net profit worth $559.7m

AMMAN: Arab Bank Group announced Saturday in a press statement that its midyear net profit before tax reached  $559.7 million. The press statement indicated that net profit after-tax and provisions during the first half of this year amounted to $422.9 million, 2 per cent higher than the $414.9 million registered during the January-June period of last year. It remarked that ... Read More »

BNP Paribas looking to add bitcoin to its currency funds

PARIS: BNP Paribas is looking to add bitcoin to one of its currency funds, according to the International Business Times. The digital currency and its blockchain technology have become popular recently. BNP has been doing “beta testing” involving the cryptocurrency, and will make an announcement soon, an unnamed spokesperson told the IBTimes UK Friday. We are looking at blockchain technology ... Read More »

BRICS Bank opens in china with authorized capital monut of $100b

BEIJING: The “New Development Bank”, backed by the so-called emerging BRICS nations Brazil, Russia, India, China and South Africa, has been viewed as a challenge to Washington-based institutions. The NDB’s website explicitly describes it as an “alternative to the existing US-dominated World Bank and International Monetary Fund” which will address needs for infrastructure and sustainable development. The bank says on ... Read More »

Turkey Garanti bank Says to Name Erbil as Chief Executive

ANKARA: Ali Fuat Erbil is set to take over as head of Turkey’s Garanti Bank, a person with knowledge of the matter said, asking not to be identified because the decision hasn’t been announced. Erbil will replace Ergun Ozen as chief executive officer following approval by regulators earlier this month for Spain’s Banco Bilbao Vizcaya Argentaria to increase its holding ... Read More »

UK government sells 10% of Lloyds Banking Group in past five months

LONDON: The UK government has sold 10 percent of Lloyds Banking Group in the past five months through its trading plan, reducing its stake to less than 15 percent. The latest disposal cuts the government’s holding by a percentage point from the level reported on 2 July, according to a statement on Thursday. The stake has dropped from 24.9 percent ... Read More »

Central bank of Amman signs agreement with Islamic International Arab Bank

AMMAN: The Islamic International Arab Bank (IIAB) and the Central Bank of Jordan (CBJ) on Saturday signed an agreement of restricted investment mandate to finance industrial, tourist, agricultural and renewable energy projects with soft loans. Deputy CBJ Governor Maher Sheikh Hassan said the medium-term loan programme from CBJ is now available for Islamic banks working in Jordan. He added that ... Read More »

Libya considered investing €1.5b in Bank of Ireland in late 2010

DUBLIN: The Libyan investment authority considered investing €1.5 billion in Bank of Ireland in late 2010, according to the former head of the National Treasury Management Agency (NTMA) John Corrigan. Speaking to the Oireachtas Banking Inquiry on Wednesday, Mr Corrigan confirmed that the NTMA met with the Libyan sovereign wealth fund in Tripoli in December 2010 with a view to ... Read More »

Cornish appointed chairman of British bank Shawbrook

LONDON: Iain Cornish has been appointed new chairman of British bank Shawbrook Group Plc. Cornish is currently a senior independent director of debt collection company Arrow Global Group Plc and wealth manager St James’s Place. Shawbrook said George Mathewson would step down as chairman and as director effective immediately. The bank, which listed on the London Stock Exchange in April, ... Read More »

Number of bank accounts reaches 10,368,626 slips over 2% to last year

BUDAPEST: The number of bank accounts in Hungary reached 10,368,626 at the end of March, down 2.3% from twelve months earlier, data released by the National Bank of Hungary (MNB) today reveals. Natural persons made up 9,368,389 of account holders and companies 1,000,237. FX accounts made up 1,056,654 of the total. The number of bank cards issued in Hungary was ... Read More »