With Italy mired in its longest recession since the Second World War, the country's hard-pressed banks are cutting jobs, closing branches and infuriating unions, but the cuts are far too modest to achieve the profitability gains they need.
This year’s study, which surveyed 148 banks in 66 countries, revealed that as the global economy recovers, retail banks across the world are increasingly investing in innovation as a means of generating revenue and controlling costs.
The transaction allows Westpac, prevented from merging with its three biggest rivals, to broaden a business dominated by mortgages.
David Stewart, one half of the Eurhythmics, and former Credit Suisse Europe, Middle East and Africa chairman/CEO Michael Philipp have revealed their plans to launch a creative-focused banking services company, to be called First Artist Bank.
Bank Zachodni WBK, the Polish arm of Banco Santander, wants to continue taking an active role in the consolidation of Poland's financial sector after completing the purchase of rival Kredyt Bank