All articles by Duygu Tavan
Duygu Tavan
OCBC FY10 net profit up 15%
Singapore-based OCBC bank has posted a 15% increase in net profit to S$2.25bn ($1.76bn) for fiscal 2010, despite operating costs rising by a quarter to S$2.3bn in 2010 as a result of the consolidation of Bank of Singapore and business expansion.
UOB FY10 net profit up 42%
UOB has reported full year net income of S$2.7bn, up 41.8% from the previous fiscal. Net interest income fell 3.9% in the twelve months to 31 December to S$3.53bn, while fee and commission income rose 19.1% to S$1.16bn.
Lloyds retail profits treble
Llyods Banking Group has returned to the black with a pre-tax profit for fiscal 2010 of £2.2m ($3.5m), compared with a loss of £6.3m loss in 2009. After one-off integration cost arising from its acquisition of HBOS and taxation, the bank fell into the red with a net loss of £258m, compared with a net profit of £2.95bn in fiscal 2009. Profit before tax at the banks retail banking business more than tripled from the previous year, from £1.4bn in 2009 to 4.7bn in 2010.
Nigeria-based Zenith Bank upgrades banking system with Ethix
Nigerian Bank Zenith has gone live with its new financial solutions system, Ethix, by International Turnkey Solutions Zenith Bank has converted its banking system and is now deploying the Ethix solution in all its 317 branches. It targets a reduction in cost and risk management, as well as improved customer service and retention.
Indonesian bank Permanta deploys FICO’s fraud manager
Indonesia-based Permata Bank is to deploy Falcon Fraud Manager, by global analytics and decision management technology vendor FICO According to FICO, Permata Bank is the first in Indonesia to deploy the Falcon Fraud Manager to prevent, detect and investigate fraud in debit and credit card transactions.
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Commerzbank returns to profit with ?1.4bn
Commerzbank, Germany’s largest listed bank by branch network, has returned to profit a year earlier than it had forecast with a net income for fiscal 2010 of 1.43bn ($1.97bn), compared with a net loss of 4.53bn in the prior fiscal. Commerzbanks retail banking-focused Private Customers unit posted pre-tax profit of 48m in the twelve months to 31 December, after it had recorded a net loss of 196m a year earlier.
Raiffeisen CEO Stepic outlines Polish ambitions
Raiffeisen CEO Herbert Stepic tells Duygu Tavan why the bank was so keen to snap up Polish-based Polbank and how the deal will enable the Austria-based lender to grow its retail banking operations in the CEEs largest market
Zuno to target young, modern, urban clients in CEE
Raiffeisen CEO Herbert Stepic hastold RBI that the launch of the banks online banking subsidiary, Zuno, in Slovakia in December will be followed by the Czech Republic in 2011 and later in Hungary and Poland.
Isbank gets closer to customers
Hlya Altay, the deputy chief executive of Turkeys largest listed bank by branch network, Isbank, tells Duygu Tavan about some of the challenges facing the bank in the year ahead.
first direct app smashes initial targets
HSBCs UK-based direct banking arm, first direct, has launched a payment-enabled m-banking application for the iPhone, attracting 100,000 downloads within a month of launch Justine Haworth, head of digital solutions at first direct, tells Duygu Tavan the app is just the first stage of the banks m-banking programme. At RBIs mobile banking round table last September, Nick Staib, senior manager digital solutions at HSBC, said that a mobile banking app was “on its way and it will be bigger and better” than anything then on offer from its rivals