All articles by Duygu Tavan
Duygu Tavan
Women less financially secure than men
Women in Austria are less secure financially than men, according to a survey by Austria-based Erste Bank. The survey, conducted by market researcher Integral on behalf of Erste Bank, found that women in Austria tend to save 173 ($240) per month 14% less than men. The head of private banking at Erste Bank, Susanne Hllinger, said: Women cannot and should not count on the state or a partner coming to the rescue
US banks launch ad-assault on Capitol Hill
Major US banks and credit unions have formed an alliance to push US consumers into lobbying against the governments proposed restrictions to interchange fees under the Dodd Frank Act. The Electronic Payments Coalition has launched an aggressive advertising campaign, implying that banks will eliminate debit cards if the Act is passed and consumers continue to use their cards for purchases.
Poland’s PKO posts 10% rise in FY10 retail net income
Poland-based PKO Banks retail banking unit generated net income of PLN2.8bn ($984m) in the twelve months ending 31 December, an increase of 10% from the previous year. The segment posted a 1.4% year on year increase in net interest income to PLN5.2bn; net fee and commission income rose by 21% to PLN2.74bn.
ABN AMRO retail,private banking net profits up 79% in 2010
Net income at Netherlands-based ABN AMROs retail and private banking unit soared by 79% in the twelve months to 31 December to 1.2bn ($1.7bn). The units net interest income increased by 10% year on year to 3.4bn, while non-interest income rose by 9% to 1.3bn.
UAE Central Bank tightens retail loan rules
The Central Bank of the United Arab Emirates (UAE) has tightened banking rules to curb banks lending activities and cut down on the fees that banks charge for personal and auto loans.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Santander’s Bank Zachodni posts 10% rise in FY10 net profit
Santander’s Polish subsidiary Bank Zachodni has posted net income of PLN974m ($338m) for the 12 months to 31 December, up 10% from the previous year Bank Zachodnis net interestincome grew by 17% year on year to PLN1.82bn, boosted by a rise in its net interest margin from 3.4% to 3.98% in fiscal 2010.
Yapi Kredi FY net profit rises 45%, margin pressure remains
Turkey-based Yapi Kredi has reported a full year net income of TRY2.25bn ($), up by 45% from the previous fiscal. Yapi Kredi said that the solid growth was driven by an 11% year on year growth in fees and commission income to TRY1.74bn.
US account fees not main reason for switchers
US Banks account fee charges have little influence on customers choices to switch their bank accounts, according to a report from JD Power.
Three Russian banks to issue universal electronic cards
Russian banks Sberbank, Uralsib and Ak Bars are to participate in the country’s universal electronic card (UEC) project, which aims to unify social, pension, medical and identification cards in the country.
Erste to follow Raiffeisen and Santander into Poland
Less than a month after Raiffeisens acquisition of a 70% stake in Polbank, its Austrian-based rival Erste has announced that it is targeting growth in Poland. Erste would be following its domestic rival and Spain-based Santander into Poland, who have acquired controlling stakes in Polbank and Zachodni respectively.