ECB appoints administrators at Banca Carige
On January 2, the European Central Bank (ECB) appointed three temporary administrators and a three-member surveillance committee to take charge of Banca Carige, the troubled Genoese lender, following the resignations of a majority of the members of its board of...
India’s wealth managers find profit in the provinces
India’s leading private banks are adapting to a rapidly shifting landscape, as vast amounts of new wealth are created in new industries, by young entrepreneurs, many of them based in teeming provincial centres far from first-tier cities. Asia’s third-largest economy...
DLT ‘perfect solution’ to deliver real-time liquidity management
Market participants are crying out for real-time visibility of their cash accounts, as the velocity of money in the financial system increases. R3, a distributed database technology company, believes DLT could be the perfect solution to overhaul liquidity management infrastructure,...
Brexit is a nail in the high-street bank’s coffin
Opening a letter from Santander recently, for a moment I get a sense of the kind of popular outrage directed against London and its financial industry – even though the latter benefits me more than most. My local bank branch,...
Italy: Banks struggle to pacify ECB bad-debt push
Andrea Enria is already at the sharp end of rebukes from Italy’s populist government, only two weeks into his new job as head of the eurozone’s single banking supervisor. Andrea Enria In mid-January, Monte dei Paschi di Siena, now majority...
Vienna bourse targets SMEs to boost Austrian equity market participation
The Vienna Stock Exchange has launched a new segment for small and medium-sized businesses in a bid to boost capital markets participation by Austrian companies. “The initiative is very similar to other European SME markets,” says Christoph Boschan, head of the...
India: Blackstone set to IPO inaugural $1 billion Reit before March
The Reit finally got the go-ahead after pro-business prime minister Narendra Modi resolved lingering uncertainty around the double taxation of Reits India’s first real estate investment trust, backed by Blackstone and its local partner Embassy Group, will be listed in Mumbai...
Cyprus and Malta’s reduced risk flags ratings upgrades
Forward looking: Malta – and Cyprus – should be catching the eye of the rating agencies Cyprus and Malta were notable among countries with higher risk scores in Euromoney’s final quarterly survey of 2018. Malta, now 23rd from 186 countries...
Africa: Access bites big and fast with Diamond
It’s a deal that few saw coming – or in any case not as fast as it did. The planned merger of Nigeria’s Access and Diamond banks, announced late last year, could be transformative for the country’s banking sector. The...
Life in a shutdown: How New York’s IPO bankers are learning to love limbo
This is an extended version of a story originally published on January 24. These are quiet times at the US Securities and Exchange Commission. Since the shutdown of the country’s government began on December 22, the SEC, like other government...