Oil: special focus
Nigerian banks make a mint from a crisisMay 2018 Oil prices and currency controls created opportunities for some banks, which reported bumper gains from FX and fixed income last year, but no one is expecting a repeat of that. Can...
Risk experts take flight over Italy’s political shock
Mayday, mayday: Investors in Italy are likely to have checked under their seats for parachutes The formation of a coalition government seems just days away, and it is one that will likely see the populist Five Star Movement (M5S), led...
UK payments consolidate to single access point
The New Payments System Operator (NPSO) will allow banks to access the UK’s payment systems through a single location and took over running Faster Payments and Bacs on May 1. The two systems transact £6.3 trillion a year, and account...
AT1: When they go low, you go high
It has not been a good few weeks for the CoCo bond. In late April, The Economist newspaper declared that, nine years after the first bonds were issued, they have not fulfilled their promise. “The idea that CoCos would help...
Ethiopia offers scant hope of financial liberalization
By William Davison A Chinese contractor and local labourers work at a metro-line station in Ethiopia’s capital Addis Ababa When members of Ethiopia’s banking and business community gathered in the glitzy Sheraton Addis for an audience with the reform-minded new...
UK challenger banks: looking for consolidation in all the wrong places
It was not the set of results that Clydesdale and Yorkshire Bank Group (CYBG) CEO David Duffy wanted to announce, given that his bank had made an ambitious £1.6 billion bid for rival Virgin Money just over a week beforehand....
Africa: Absa looks abroad in wholesale banking push
With a new office in London and another one soon in New York, Absa is returning to the global financial scene as an independent entity for the first time since the early 2000s. Moreover, what was mostly just a South...
Equities: Berenberg insists its ambitions are intact
Berenberg will still reach its goal of becoming one of the biggest Transatlantic equities houses within five years, despite swingeing job cuts in its equities business, according to David Mortlock, head of investment banking at the German firm. The Hamburg-based...
CLSA and ACGA: Some uncomfortable thoughts on dual-class shares in Asia
For almost 20 years, the CG Watch report produced by the Asian Corporate Governance Association (ACGA) with CLSA has been a useful, scientific, principled and well-written account of environmental, social and governance (ESG) progress in Asia. It has provided a...
Argentina’s banks face strategy dilemma
Argentina’s economy minister Nicolás Dujovne meets with IMF MD Christine Lagarde on Thursday The slow pace of Argentina’s fiscal reform programme finally caught up with its government last week and, compounded by an error in monetary strategy at the end...
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