Lloyds Banking Group said it had dismissed eight staff following an investigation into the submission of benchmark interest rates.» Read More
European shares closed lower on Tuesday as markets await the outcome of a critical vote in Cyprus to tax bank deposits.
European shares edged lower on Friday, impacted by weaker bank and mining stocks, and traders expected equities to stay trapped in a tight range this month.
British bank Lloyds made a loss last year after setting aside a further 1.9 billion pounds ($2.9 billion) to compensate customers mis-sold payment protection products and planned to give its chief executive a 1.5 million pound bonus.
UK banks led European shares higher on Tuesday after Britain's third biggest lender, Barclays, unveiled swingeing cost cuts and a strategic overhaul.
Royal Bank of Scotland will be punished for its role in the global interest-rate rigging scandal with fines amounting to $612 million, the British bank said on Wednesday.
Banks that rigged interest rates behaved in "brazen, flagrant" fashion, the head of the Commodities and Futures Trading Commission told CNBC on Wednesday.
Lloyds Banking Group is likely to pay its staff less in bonuses for 2012 than the year before and will "undoubtedly" pay out less than the other major British banks, its chairman said on Wednesday.
European shares suffered steep falls on Monday as mounting political uncertainty in the peripheral euro zone prompted investors to lock in profits on indexes trading close to multi-year highs.
U.K. Chancellor George Osborne said on Monday that banks in Britain will have to separate retail banking from riskier investment banking activities.
British banks that fail to guard their day-to-day banking from risky investment activities will face being dismantled, finance minister George Osborne is set to say later on Monday.
Credit Suisse Group Inc faces a potential $2 billion of exposure over fraud that occurred a decade ago at National Century Financial Enterprises, a result of a federal judge's determination on how to apportion responsibility.
Banks in Spain, Italy, Ireland and Britain need to set aside much more money to cover potentially bad loans, credit ratings agency Moody's said on Thursday, meaning European taxpayers may again be tapped for cash.
Rallying telecom stocks and a bullish start to the new earnings season propelled Europe's top shares to fresh 22-month closing highs.
Investment banking has been the focus of much of the recent news in the financial universe, with politicians urging banks to refocus on their traditional retail operations.
Europe's largest financial institutions, which have been readjusting since the onset of the 2008 financial crash and the sovereign debt crisis that followed, are causing pain all over the globe that will have long term implications, according to analysts. They argue that the situation will only worsen without the proposed European banking union.
European shares closed lower on Friday as U.S. politicians continued to wrangle over averting the "fiscal cliff" — a series of tax increases and spending cuts that are set to kick in at the start of next year and could threaten the U.S. economy.
Bank lending to Britain's property market is at its tightest since the collapse of U.S. investment bank Lehman Brothers, a report showed on Friday.
StanChart has agreed to pay $327 million to resolve allegations that it violated U.S. sanctions against Iran, Sudan and two other countries, capping months of legal headaches for the British bank.
Manoj Ladwa, head of trading at TJ Markets explains why he has turned bullish on Lloyds Bank.
*Citigroup, Deutsche Bank, HSBC, JPMorgan Chase top list. *G20 finance ministers meet in Mexico this weekend. Nov 1- Citigroup Inc, Deutsche Bank, HSBC and JPMorgan Chase& Co will need to hold the most extra capital of 28 banks considered so large and complex they need an extra buffer to absorb potential losses, global regulators said on Thursday.