Business Banking News
Banks improve EFG lending to SMEs
Figures published today show that bank lending to small and medium-sized businesses (SMEs) through the Enterprise Finance Guarantee (EFG) scheme is showing improvement. The scheme provides vital funding to SMEs that lack the collateral or credit history to secure a … Read more
Scotiabank fund management in China is approved
Scotiabank has announced that together with its joint venture partner Bank of Beijing, the Bank of Beijing Scotiabank Asset Management Co. Ltd. has been given the regulatory green light to operate as a fund management company in China. It is … Read more
SMEs helped to highlight financial services issues
The Government wants to make it easier for small and medium-sized businesses (SMEs) to highlight consumer and competition problems in the financial services sector. In a new initiative, consumer groups representing SMEs will be able to bring “super complaints” to … Read more
Proofreading mistakes costly to banks, businesses
Proofreading mistakes and spelling errors are costing British banks and businesses millions in revenue, according to internet entrepreneur, Charles Duncombe. Mr Duncombe owns a diverse potfolio of online businesses, including travel, mobile phones and clothing e-tailers. His company’s testing found … Read more
KeyCorp announces Victory Capital sale
KeyCorp has announced that it has agreed to sell its investment management subsidiary Victory Capital Management and its broker dealer affiliate Victory Capital Advisers. The transaction will see a private equity fund sponsored by Crestview Partners pay $246m in cash … Read more
BNP Paribas maintains lead in aviation finance
BNP Paribas maintained its leading position in aviation finance during 2012. Last year, the bank acted as arranger, underwriter or bookrunner for some 35 aircraft finance deals on behalf of airlines and aircraft leasing companies. Across all regions, BNP underwrote … Read more
ING sells KBFG stake
Dutch bank ING has announced that it has sold its 5% stake in KB Financial Group (KBFG) to institutional investors for a total sum equal to approximately €500m. The sale is part of the firm’s strategic approach to hone its … Read more
Government procurement clamp down on tax avoidance
Proposed new rules that will prevent companies that take part in failed tax avoidance schemes from being awarded Government contracts have been unveiled by HM Treasury. Due to come into effect on 1st April 2013, they require potential suppliers to … Read more
Bankia accelerates branch restructuring
Bankia has announced that in March it will begin the process of streamlining its branch network as part of the Restructuring Plan that European and Spanish authorities approved in November of last year. The central services of the bank will … Read more
UK business confidence hits all-time low
BDO’s business optimism index has fallen to its lowest reading since the report began 21 years ago. The index, which predicts business performance two quarters ahead, declined to 88.9 in January (December 90.3) remaining below 95, the level that indicates … Read more
Commerzbank establishes Thai partnership
Commerzbank and Thailand’s KASIKORNBANK have agreed on a new cooperation. From now on it is possible for corporate clients of Commerzbank to use the products and services of KASIKORNBANK in Thailand, while corporate clients of KASIKORNBANK will have access to … Read more
Crédit Agricole sells Emporiki to Alpha Bank
Crédit Agricole S.A. has announced that it has completed the sale of its entire share capital of Emporiki to Alpha Bank. The French bank entered into exclusive negotiations with Alpha Bank regarding a possible sale of Emporiki in the second … Read more
Bank of China opens Vladivostok branch
Bank of China (Eluosi) has announced that its Primorskiy Branch has been officially opened in Vladivostok, the capital city of Primorskiy Kray. The branch is the second that Bank of China (Eluosi) has opened in the Russian Far East, and … Read more
ICBC opens first branch in Brazil
The Industrial and Commercial Bank of China (ICBC) has opened its first branch in Brazil. ICBC Brazil’s first branch is located in Sao Paulo, the country’s largest city, following the approval, gained late last year, from the Central Bank of … Read more
Wells Fargo expands UK real estate capabilities
Wells Fargo is expanding its commercial real estate capabilities in the UK. A bigger London-based team will serve the needs of US-based clients currently doing business in the UK and Mike Marino, who formerly led the bank’s commercial real estate … Read more
Small businesses experience higher levels of distress
Small businesses are experiencing significantly higher levels of distress than larger organisations, according to R3’s latest Business Distress Index. Research from the insolvency trade body indicates that 37% of small businesses are experiencing decreased profits, compared to 19% of medium-sized … Read more
RBS expands healthcare & pharmaceuticals team
Royal Bank of Scotland Corporate & Institutional Banking is expanding its healthcare and pharmaceuticals team with the appointments of Emily Makinson and Paul Weeks as associate director and director, respectively. The move forms part of a drive to enhance RBS’s … Read more