http://www.bankingtimes.co.uk Daily Banking News at Banking Times, the UK's leading independent banking news publication. Sat, 20 Mar 2010 08:31:33 +0000 http://backend.userland.com/rss092 en A consultation document on Payment Protection Insurance (PPI) mis-selling published earlier this month by the Financial Services Authority (FSA) has "extremely costly and serious ramifications for the PPI industry". The claim is being made by financial research company Defaqto, which points out that the regulator puts the cost of compensation for ... http://www.bankingtimes.co.uk/20032010-billions-due-in-ppi-mis-selling-compensation/ Société Générale Corporate & Investment Banking (SG CIB) has announced the appointment of Craig M. Overlander as deputy chief executive officer of SG CIB Americas. He brings with him extensive experience of the industry, and during his long career spent more than a quarter of a century with Bear Stearns, where ... http://www.bankingtimes.co.uk/19032010-sg-cib-appoints-americas-deputy-ceo/ Deutsche Bank has announced the appointment of Michael Durr as managing director and global head of Central Bank Sales, which falls underneath the umbrella of the bank's rates division. He joins the firm from Morgan Stanley, where he worked as global head of Multi-Product Sales to Central Banks. Durr's primary responsibility will ... http://www.bankingtimes.co.uk/19032010-deutsche-bank-appoints-central-bank-sales-md/ Financial services firm Merriman Curhan Ford Group has reported its financial performance results for 2009 and for the fourth quarter of that year. Revenue for the year rose by 35% compared to 2008, reaching $49.3m and included investment banking revenue of $7.2m (down 37% from the previous year). Loss from continuing operations ... http://www.bankingtimes.co.uk/19032010-merriman-curhan-ford-announce-reduced-losses/ The former chairman of Anglo Irish Bank has been arrested following an investigation into financial irregularities at the bank. Sean FitzPatrick resigned as chairman in December 2008, having admitted to temporarily transferring loans of €87 million with Anglo Irish to another bank, before the group’s financial year end. Mr FitzPatrick claimed the ... http://www.bankingtimes.co.uk/19032010-former-anglo-irish-chairman-arrested/ MBNA has said it will stop issuing the credit card cheques that are frequently included with its monthly credit card statements, from 31st March. According to providers, the cheques are a useful means of paying for goods and services where credit cards are not accepted. However, interest rates for debt on such ... http://www.bankingtimes.co.uk/19032010-mbna-abandons-credit-card-cheques/ HypoVereinsbank has released its financial results for the full year 2009. The group saw total revenues leap up to €6.9bn, a rise of 74% on the previous year. The firm also made pre-tax profits of €1.27bn, a rise of almost €1.9bn on 2008, primarily driven by a strong €3bn resurgence in net ... http://www.bankingtimes.co.uk/18032010-hvb-reports-2009-profits/ The British Property Federation and consultants Real Service are hosting a lunch attended by numerous influential property chiefs and senior bankers from Barclays and Deutsche Bank. The guests will discuss means by which the property market can enhance its reputation and improve its future prospects. BPF Chief Executive Liz Peace has warned ... http://www.bankingtimes.co.uk/18032010-barclays-advocates-jv-approach-for-developers/ A recently published report on the collapse of Lehman Brothers has prompted OneNewsPage.com to ask its readers whether their confidence in banks has been restored. The official report by bankruptcy specialist, Anton Valkulas, concluded that for several weeks before filing for bankruptcy protection, Lehman Brothers was insolvent. It also revealed that senior ... http://www.bankingtimes.co.uk/18032010-banks-remain-untrustworthy-in-consumer-eyes/ Sberbank, the Russian banking giant, has reported its financial performance results for the first two months of the year. The bank saw pre-provisions operating income decline by 15.1%, though net interest income and net fee and commission income were both up, by 8.9% and 11.1% respectively. Operating expenses also rose, up by ... http://www.bankingtimes.co.uk/17032010-sberbank-reports-rising-profits-in-2010/