New KBC Bank chief says he's ‘comfortable’ with Irish share of mortgage market

The new boss of KBC Bank Ireland has said he is currently “comfortable” with its share of the Irish mortgage market and indicated he has ruled out selling soured mortgages to vulture funds.

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Five banks fined €1.07bn by European Commission over foreign exchange cartel

Barclays and Royal Bank of Scotland (RBS), Citigroup, JP Morgan and MUFG were fined by the EU antitrust group in two settlements.

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Probe as borrowers in arrears hit with legal fees

The Central Bank is investigating the legality of commercial banks slapping legal fees onto the mortgages of their customers who have fallen into arrears even before cases are concluded, the Irish Examiner can reveal.

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Irish banks should hike fees and commission to boost flagging profitability, says credit rating firm S&P

The days of Irish banks writing back large loan-loss provisions are coming to an end and it is “critical” for the lenders to hike fees and commissions to offset a squeeze on their profits, according to S&P Global Ratings.

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UK Metro Bank rejects ‘false rumours’

The shares of Metro Bank, one of the so-called challenger lenders in the UK, have touched another record low despite its assurances that its £350m (€400m) shares sale to repair its finances was well advanced.

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Sharon Donnery appointed as acting Central Bank Governor

The economist, who has been with the bank for more than 20 years, will take up the position from the start of June until the end of August.

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Ulster Bank to sell off more non-performing loans, CEO says

Ulster Bank is expected to sell off more non-performing loans in order to reach a European Central Bank target.

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Barclays warns over cost-cutting as profits drop 10%

The lender reported underlying pre-tax profits of £1.5 billion for the first three months of 2019, down from £1.7 billion a year ago.

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Switching to digital banking gets easier thanks to N26 and Revolut

John Hearne reviews the merits of digital banking services which do not charge fees, but which also do not offer loans, overdrafts or credit cards

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RBS boss Ross McEwan resigns

The lender’s chief executive will remain in post until a successor is appointed

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Board set up to improve banking culture 'rigged' in industry's favour: John McGuinnness

The new board set up to improve banking culture is "rigged" in favour of the lenders and not customers, one of the industry's biggest critics has claimed.

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Changing bank culture: Hold individuals responsible

For far too many people, the phrase “bank customer care” has become an oxymoron mocking the unequal relationship between financial institutions and everyday customers.

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Customer focus vow by Padraic Kissane on banking culture board

The financial adviser credited as one of the architects in exposing the €1bn tracker mortgage scandal has insisted he “will not become a member of the club” when joining the newly established banking culture board.

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Irish Banking Culture Board to ensure change within banking system

Greater transparency, treating customers with fairness and maintaining the highest ethical standards will be the focus of a new board tasked with overseeing a change in banking culture.

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Permanent TSB not ruling out more soured loan sales

Permanent TSB (PTSB) has not ruled out further non-performing loan sales, while it deserves to be fined over the tracker mortgage scandal, its chief executive has said.

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Eddie Hobbs: Are we seeing early signs of an Australian debt asteroid strike and why it matters

A recent report by Denise Braily, the President of Australian BFCSA (Banking & Finance Consumers Support Association), to a Royal Commission on banking provided a worrying picture of banking in Australia.

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Qatar resists bank merger

Deutsche Bank is facing resistance from top Qatari shareholders to its planned merger with Commerzbank.

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Financial services industry has more neck than it had before the crash

It's night time. A pensive, maybe angry, man sits at the wheel of his car, trying to decide.

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Government starts hunt for new Central Bank governor as Lane's ECB elevation is confirmed

Central Bank governor Philip Lane has been confirmed as the European Central Bank's next chief economist.

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Savings used to pay off essential bills

Most Irish consumers are unable to pay their essential household bills with their regular income, a new study shows.

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Danske Bank says other lenders involved in scandal

It seems increasingly clear that Danske Bank was far from alone in its involvement in one of the world’s biggest money-laundering scandals.

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KBC Bank names new chief executive for Ireland

KBC Bank Ireland said that its chief executive of the past six years, Wim Verbraeken is returning to take up a senior job at the group’s head office in Brussels.

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OLIVER MANGAN: Amid the Brexit uncertainty, ECB rate hike delays may offer some comfort

As expected, last week’s meeting of the ECB Governing Council concluded with no changes to interest rates from 0% for the refinancing rate and –0.4% for the deposit rate

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28 bankers in Ireland paid over €1m a year

Some 28 bankers in Ireland earn over €1m, according to regulator European Banking Authority.

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Government ‘lacks will’ to protect homeowners

The Government does not possess the political will to protect vulnerable homeowners from so-called vulture funds, it is claimed.

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ECB cheap funding move puts spotlight on costly Irish banks

An ECB move to inject more cheap funds into banks to boost a weakening eurozone economy has put the spotlight on the elevated costs of loans Irish banks charge households and businesses.

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Oireachtas Committee to examine future of abandoned safety deposits in banks

Valuables such as artwork and gold have accumulated in banks over decades, with some safety deposits dating back to the 19th century.

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Permanent TSB plans to stick to cash back mortgage incentives

Permanent TSB said it aims to keep its increased share of the new mortgage lending this year, as it affirmed it will extend offering cash back incentives with its home loans through 2019.

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High legal burden to prosecute individual bankers

Finding individual bankers guilty of reckless lending could be too cumbersome to prosecute with new laws, legal experts have said.

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KBC Bank taps financial boost from rising Irish house prices

KBC Bank Ireland got a huge financial boost from rapidly increasing house prices in 2018 but the outlook suggests Irish lenders will have fewer opportunities to tap this year.

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Financial-sector misconduct inquiry spares Australian banks

Australian bank shares surged the most in a decade after a long-awaited report on finance sector misconduct recommended dozens of rule changes but spared the big four lenders any serious threat to their market dominance.

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Amigo unveils 50% rate for its ‘guarantor’ loans

New lending entrant Amigo said it has struck a fair price in charging 49.9% for its loans to people who cannot borrow from banks and credit unions because of their poor credit record.

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‘Surprise’ at Bank of Ireland mortgage rate moves

Mortgage rate cuts by Bank of Ireland in its very short-term loans as well as rises in its very long-term rates have surprised brokers who say the changes will not shake up the market.

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KBC becomes first bank to offer multi-banking in Ireland

KBC has become the first Irish bank to offer multi-banking.

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No sign of new wave’ of Irish bank branch closures - FSU

The Financial Services Union, which represents banks staff, said there is no sign of a new wave of bank branch closures as banking company Santander said it plans to shut almost a fifth of its branches in Britain and the North by early summer.

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Mastercard slapped with €570.6m fine for EU competition breach

The Commission said the card giant was guilty of obstructing merchants' access to cross-border card payment services.

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Paschi bank shares halted

Shares in Monte dei Paschi di Siena were suspended after sliding by 8.5% on news of a stark ECB warning for the Italian bank.

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ECB interest rate hike likely delayed to mid-2020

The ECB not only will fail to raise interest rates this year, but won’t move until mid-2020, well beyond the timing suggested by the bank’s policy guidance, money market pricing implies.

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Deutsche Bank bullish about future

Deutsche Bank is strong and its turnaround strategy is bearing fruit, chairman Paul Achleitner has said, ruling out the need for state aid and playing down speculation that the loss-making German bank should merge.

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BoI and PTSB shares among Europe's heaviest losses

Bank of Ireland and Permanent TSB were among the heavy losers in Europe as selling resumed across the world following a shortlived post-Santa rally.

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Danes urge no Danske mercy

As the first bankers in Europe’s biggest money laundering scandal get detained by police, the political demand is for a tough response targeting the perpetrators.

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First arrests made in Danske Bank dirty money case

An international criminal investigation into Danske Bank has led to the first group of bankers being apprehended, and prosecutors say more will probably follow.

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Interest rates charged by moneylenders could fall dramatically after new Bill

The Dáil has passed a Bill which could dramatically reduce the interest rates moneylenders charge customers.

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Danske ‘has €2.4bn buffer’ amid laundering probe

Danske Bank has built a capital buffer of up to €2.4bn to absorb potential fines as it deals with the fallout of its role in one of Europe’s worst ever money laundering scandals.

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S&P report on global banks points to continued pressure for Irish banks in 2019

Populist parties gaining strength in the European Parliament Elections next May and Brexit may likely keep the pressure on European and Irish banks in 2019, a report by S&P Global Ratings suggests.

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Retired Judge John Hedigan appointed first chairman of Banking Culture Board

Retired Judge John Hedigan has been appointed as the first chairman of the new Banking Culture Board.

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Focus on lack of bank competition

It “remains to be seen” whether the higher profits generated by the small number of lenders in the Republic since the crisis will lead to new entrants and push down margins of the existing banks, according to new Central Bank research.

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KBC in no rush to sell further €2.6bn loans

KBC Ireland is in no rush to sell more of its soured mortgage loan book when it completes the existing disposal, its chief executive Wim Verbraeken has said.

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Calls for action on bank ‘monopoly’

Consumer and financial experts have called on regulators to probe the grip held by AIB and Bank of Ireland on the banking market. The calls come after ECB head Mario Draghi told the Oireachtas Finance Committee on Thursday that a “quasi-monopoly” was driving up the costs of credit for homes and business borrowers.

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No relief despite stress tests on banks

AIB fared relatively better than its main rival Bank of Ireland in so-called stress tests conducted on large European banks by regulators, but the outlook for their shares will likely remain clouded for some time.

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Stress tests on two Irish banks show improvement in ability to withstand shocks

Stress tests have been carried out on two Irish banks showing their ability to withstand shocks has improved.

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US charges ex Goldman bankers and Malaysian financier over money laundering scheme

The charges are the first arising from a global scandal over the epic corruption scandal at the state investment fund known as 1MDB.

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AIB tumbles as CEO heads to Davy

Geoff Percival AIB shares fell by over 2.6% after the lender announced chief executive Bernard Byrne is to leave the company to join stockbroking group Davy.

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Bank of Ireland mortgage sales boost

Bank of Ireland shares tapped into a rare shares rally across Europe, to gain 1.5%, as the lender said it had boosted its mortgage lending and expanded its overall loan book by €500m before it starts selling home loans through brokers next month.

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US investment banks enjoy third-quarter profit boost

Goldman Sachs has reported an 18% rise in third-quarter net income to 2.52bn US dollars (€1.94bn).

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Citibank Europe fined €1.3m for breach of lending rules

Citibank Europe has been fined €1.3m by the Central Bank for breaking lending rules.

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US opens criminal probe into Denmark's top bank amid scandal

The US government has opened a criminal investigation into the flow of dirty money through the Estonian branch of Denmark's biggest bank, the lender said.

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Update: Bank payments issue resolved, social welfare payments to be made today

The Department of Employment Affairs and Social Protection has confirmed that the banks' payments system has been resolved and social welfare recipients will be paid today.

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Opinion: ‘What next?’ is the major question facing the ECB

As we look back on the decade since the financial crash, many phrases linger in the memory. One of the most telling, and ultimately the most successful in saving the euro, was European Central Bank president Mario Draghi’s 2012 announcement that he would do “whatever it takes” to ensure the survival of the single currency, writes John Daly.

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Danish bank CEO quits amid money laundering scandal

Thomas Borgen has stepped down as an internal report found suspicious transactions at Danske Bank’s Estonian branch.

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