All articles by RBI editorial
RBI editorial
Standard Chartered is ‘Here for good’
Standard Chartered has begun rolling out a global brand campaign underpinned by its continued drive to grow market share across Asia, Africa and the Middle East. The scheme, developed by advertising agency TBWA, will run globally in television, print, digital and outdoor media and comes ahead of the banks sponsorship of the UKs Liverpool football club from July 2010
Wells Fargo re-brands Wachovia internationally
The majority of Wachovia branches are now operating under the Wells Fargo name and brand, according to the US retail banking giant. Wells Fargo, which acquired Wachovia at the end of 2008 and has $1.2 trillion in assets, said that the majority of Wachovia international offices will now use the Wells name and brand on marketing material although some locations will only be converted later this year.
Germany’s savings banks post ?4.6bn profit in 2009
Germanys 431 savings banks nearly doubled pre-tax profits in fiscal 2009 jumping to 4.6bn ($6.2bn), from 1.9bn a year earlier. The German Savings Bank Association (Deutscher Sparkassen und Giroverband DSGV) said the jump in net income was partly due to an increase in net interest income, which was 10% higher than in 2008 and a slowdown in losses on loans.
Intesa Sanpaolo posts earnings up 10%
Intesa Sanpaolo posted a 10% rise in net profits to 2.80bn ($3.79bn) for fiscal 2009, from 2.55bn a year earlier, boosted by the strength in retail operations. But Italys largest retail bank, with a branch network of 6,000, also saw its retail loans drop 5.2% to 374bn, while customer deposits rose slightly at 1%.
UK government outlines plans for ‘people’s bank’
The UK government has unveiled plans to turn the Post Office into a “peoples bank” spanning 11,500 branches in the UK. The proposals for the Post Office, a subsidiary of the state-owned Royal Mail group, would see outlets changed into bank branches offering a range of financial services, if implemented.
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ICICI gets approval for Singapore expansion
ICICI, Indias largest private sector bank, will be able to expand its presence in Singapore after being granted a qualified full banking status in the country. The licence, authorised by the Monetary Authority of Singapore, paves the way for ICICI to strengthen its retail and corporate presence and build on the 19 international locations it currently spans. We are delighted to receive this approval since it will further strengthen our footprint in the corporate, commercial, wealth management and direct banking services in Singapore,” said Chanda Kochhar, the banks chief executive.
ActivoBank for young-at-heart, says Millennium BCP
Millennium BCP, Portugals second-largest bank, has re-launched ActivoBank to appeal to young-at-heart clients who are IT-savvy and crave simplicity. The new concept builds on the tagline, Simplicity, by offering customers a new suite of products and service channels which have the “prime objective of simplifying the daily life of its clients”. Carlos Santos Ferreira, the banks chief executive, said: “This new value proposition is a stellar example of the dynamism, modernity and innovation that have always been fundamental to the growth and development of Millennium BCP.”
UBI Banca sees net profit triple for fiscal 2009
UBI Banca, Italys fifth largest bank, posted a more than threefold increase in net profit in fiscal 2009, from 69bn ($92bn) in 2008 to 270bn in 2009, but said the economic outlook for 2010 was improving “very slowly”. Lending on a group basis was up 1.7%, with total assets of 98bn in 2009, while retail lending increased 4.5% from 43.5bn to 45.5bn at the end of 2009.
Bank of New Zealand branches to get facelift
Bank of New Zealand (BNZ) has announced plans for a massive branch overhaul that the bank says will “transform” the way that it interacts with customers. The National Australia Bank-owned lender will introduce technology such as video conferencing, digital signage, free wi-fi and interactive touchscreens after customer research showed client requirements had “changed dramatically” over the last 20 years.
After the crisis
A new report has been published by VRL on the current state of the global bancassurance market, taking account of the recent financial crisis While the financial crisis has had an impact on the global bancassurance model, with sales of life and other long-term investment products in severe decline as banks prioritise deposits to replenish liquidity, the future of the bancassurance channel remains positive.