Latest news with #retailbank
Reuters
5 days ago
- Business
- Reuters
Australian lender ANZ reports rise in Q3 loans and deposits
Aug 15 (Reuters) - Australia's ANZ Group ( opens new tab said on Friday its net loans and customer deposits rose in the third quarter as lending for home purchases and businesses stayed strong, extending a run of growth among major domestic banks. In a limited quarterly trading update, ANZ said its credit risk-weighted assets edged higher due to growth in its retail bank's home lending, and institutional lending. ANZ does not publish quarterly profit figures, unlike most of its major rivals. ANZ shares climbed more than 1% to A$32.88 in mid-morning trading, outpacing a 0.2% gain in the benchmark S&P/ASX200 (.AXJO), opens new tab. The Australian economy has held steady. Business surveys are generally upbeat and consumer spending has picked up in the last couple of months as lower borrowing costs and past tax cuts feed through to incomes. ANZ, Australia's fourth-largest bank by market value, said its common equity tier 1 ratio, a key metric of spare cash, rose by 16 basis points since March to 11.9%. Mortgage payments in Australia past their due date for 90 or more days rose 4 bps to 88 bps compared to last year, the banking group said in the trading update. Home loan delinquencies across each of the major Australian banks are considered low, despite high cost of living pressures. ANZ reported an A$19 billion ($12.35 billion) boost to customer deposits in the quarter, driven by an 8% increase in institutional deposits. Its net loans and advances grew 2%. Market leader Commonwealth Bank ( opens new tab, and Westpac ( opens new tab, this week reported lending and deposit growth in their full-year and third-quarter results. ANZ's chief executive Nuno Matos ordered last week a strategic review into the bank's operations, focused on the integration of Suncorp's banking business into the organisation after its 2024 acquisition. Suncorp's risk-weighted assets stood at A$34.1 billion at the end of the June quarter, up slightly from the previous quarter, the trading update showed. Matos, who became chief executive in May, is expected by analysts to deliver a strategic briefing on the bank's outlook before its full-year results are published on November 10. ($1=A$1.5389)
Yahoo
30-07-2025
- Business
- Yahoo
HSBC reportedly considers selling Australian retail bank
HSBC is exploring the sale of its retail bank in Australia, aiming to streamline its global operations, reported The Australian Financial Review, citing sources. The potential sale, managed by Citi, could attract local lenders seeking to expand their credit card offerings. HSBC's Australian retail bank, which provides credit cards, mortgages, and savings accounts, is up for sale as part of a strategic move to optimise operations. While HSBC and Citi have not commented, market sources indicate the bank's focus on retaining its commercial banking operations in Australia. HSBC has operated in Australia since 1986, holding a banking licence since former treasurer Paul Keating opened the market to foreign competition. Despite having A$23bn in owner-occupier mortgages and A$10bn in investor loans by May, HSBC has struggled to compete with local banks. The bank's A$486m in credit card debt surpasses that of Bendigo and Adelaide Bank and Macquarie. Additionally, HSBC holds A$18bn in household deposits, appealing to migrants from Asia and wealthy travellers through its multi-currency accounts. A prospective buyer must convince the Australian Competition and Consumer Commission (ACCC) that the acquisition will not significantly reduce competition. In 2021, the ACCC approved National Australia Bank's A$1.2bn acquisition of Citi's retail bank in Australia. ANZ's new chief executive, Nuno Matos, who previously led HSBC's retail bank in the UK and Europe, is familiar with HSBC's operations. However, Matos is currently focused on integrating Suncorp Bank, which ANZ acquired last year. In October, HSBC chief executive Georges Elhedery announced plans to streamline the bank's geographic governance structures, reducing them from five regions to two. HSBC is also introducing four new business lines: Hong Kong, the UK, corporate and institutional banking, and international wealth and premier banking. In February, HSBC set a goal to save A$461m in 2025 and reduce its annual cost base by A$1.5bn by the end of next year. The bank is also closing key parts of its investment banking operations in Europe and the Americas. Earlier this week, Brazilian bank BTG Pactual signed a deal to buy HSBC's operations in Uruguay for $175m. "HSBC reportedly considers selling Australian retail bank" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Reuters
24-07-2025
- Business
- Reuters
BNP Paribas cushions profit fall with rates trading, retail boost
PARIS, July 24 (Reuters) - French bank BNP Paribas ( opens new tab reported a smaller-than-expected drop in second-quarter profit on Thursday after a jump in fixed income trading revenue and a rebound at its retail bank cushioned the impact of a higher tax burden in the United States. Overall, it was a somewhat mixed quarter for the euro zone's largest bank by assets, as signs of a revival in its domestic retail unit were offset by underwhelming performance at its investment bank, which lagged Wall Street rivals. Yet, the bank signalled that the much-expected rebound in its European retail activity was set to continue in the second half. "Outlook for the second half of the year is very encouraging, with expected revenue acceleration driven by Commercial & Personal Banking," Chief Executive Officer Jean-Laurent Bonnafe said. BNP is among the first of the big European banks to publish second-quarter numbers. Net income in the April-to-June period fell 4% from a year earlier to 3.26 billion euros ($3.83 billion), slightly above analyst forecasts. Revenue rose 2.5% to 12.6 billion euros, in line with expectations, while provisions for bad loans matched estimates. At its investment bank, fixed income, currency and commodity trading revenues soared 27% on the back of market volatility sparked by U.S. President Donald Trump's tariffs, but equity trading revenue suffered a steep decline and pre-tax income from global banking fell. Overall investment banking revenue was up 4% year-on-year. The global banking activity, which serves large corporate clients and financial institutions, was impacted by trade tensions, geopolitical uncertainty, and a weaker dollar. Several analysts saluted the bank's lower-than-expected costs and the rebound in its retail operations. "Revenue performance in European retail was a standout and sets up well for H2 25 acceleration," Jefferies said in a note to clients. "Elsewhere, the group exhibited strong cost control." CEO Bonnafe, whose tenure was recently extended, has made the investment bank a key part of his efforts to boost BNP's profits, while also cutting costs and bulking up in asset management with the recent acquisition of AXA Investment Managers. The bank's shares have underperformed rivals, however, and even this year's 22% gain is behind the wider European banking sector (.SX7P), opens new tab, with investors cautious about BNP's relative growth prospects. BNP said its average tax rate for the quarter was nearly six percentage points higher than a year ago, following changes to U.S. tax rules on financing expenses. That weighed on net earnings, with pre-tax income up 3.1%. Earnings from BNP's insurance operations rose sharply, driven by solid operating income and a one-off gain related to a financial stake in China. BNP's retail and consumer division saw a 4.3% rise in net interest income (NII) in France. Analysts expect further improvement following a recent cut in the regulated rate on the country's popular Livret A savings account, which offers room for margin expansion. French banks typically lag their Spanish and Italian peers in benefiting from higher interest rates, as 96% of French mortgages are on a fixed rate. Tighter mortgage rules and popular regulated savings products have squeezed margins in an already highly competitive market. BNP announced an interim dividend of 2.59 euros per share, to be paid on September 30, mirroring a common U.S. practice. The bank also said it expected to surpass 12.2 billion euros in net income this year, in line with its 2024-2026 targets. ($1 = 0.8503 euros)
Finextra
27-06-2025
- Business
- Finextra
BBVA launches digital bank in Germany
Spain's BBVA continues its European expansion, launching a 100% digital retail bank in Germany. 0 The app-based offering includes an interest-bearing checking account paying three per cent for the first 12 months, and a debit card with a three per cent cashback on purchases - both paid monthly and completely free of charges, with no fees. Germany marks the second all-digital market entry for BBVA, following its 2021 launch in Italy, where it now has more than 700,000 customers. BBVA has long pushed its tech credentials, claiming its app is "recognised as the best digital banking experience in Europe". In addition to the checking account with German IBANs and debit card - which has no printed data and a dynamic CVV - customers will have access to 70,000 ATMs and cash withdrawal points across Germany, instant Sepa transfers, direct debits, and a fully digital account switching request service. Financing options are also available, such as Pay&Plan, which allows customers to split debit card purchases up to 90 days after payment into three to twelve monthly instalments. Other lending facilities include one-click personal loans and the Dispokredit overdraft facility. 'We're bringing something new to Germany. A banking experience that combines the simplicity and convenience of a fee-free account, typical of digital actors, with the full range of products, reliability, and trust of a universal bank,' says Onur Genç, CEO, BBVA.
Bloomberg
26-06-2025
- Business
- Bloomberg
BBVA Starts Digital Retail Bank in Germany to Boost Growth
BBVA SA has opened its digital retail bank to customers in Germany as the Spanish lender rolls out its offering across more European markets. BBVA chose Germany because it's Europe's biggest economy, Chief Executive Officer Onur Genc said in Frankfurt. Outside Spain, the digital bank has also been introduced in Italy and it has exceeded expectations there, Genc said.
