Finance Banks

  • ABUJA, Sept 21- Nigeria's central bank has revoked Skye Bank's operating licence and a bridge bank called Polaris has been created to take over the lender's assets, the financial regulator said on Friday. Isaac Okorafor, a central bank spokesman, said state-run bad bank the Asset Management Corporation of Nigeria had injected 786 billion naira into Polaris.

  • ABUJA, Sept 21- Nigeria's central bank has revoked Skye Bank's operating license and a bridge bank called Polaris has been created to take over the lender's assets, the financial regulator said on Friday. Isaac Okorafor, a central bank spokesman, said state-run bad bank the Asset Management Corporation of Nigeria had injected 786 billion naira into Polaris.

  • ABUJA, Sept 21- Nigeria's central bank has revoked Skye Bank's operating license and a bridge bank called Polaris has been created to take over the lender's assets, a spokesman for the financial regulator said on Friday. Central bank spokesman Isaac Okorafor said state-run bad bank the Asset Management Corporation of Nigeria had injected 786 billion naira...

  • ABUJA, Sept 21- Nigeria's central bank has revoked Skye Bank's operating licence and a bridge bank called Polaris has been created to take over the lender's assets, a spokesman for the financial regulator said on Friday. Central bank spokesman Isaac Okorafor said state-run bad bank the Asset Management Corporation of Nigeria had injected 786 billion naira...

  • ABUJA, Sept 21- Nigeria's central bank has withdrawn the operating license from Skye Bank and a bridge bank called Polaris has been created to take over the lender's assets, a spokesman for the financial regulator said on Friday. Isaac Okorafor said the state-run bad bank, the Asset Management Corporation of Nigeria, had injected 786 billion naira into Polaris.

  • CENTRAL BANK OF NIGERIA REVOKES OPERATING LICENCE OF SKYE BANK.

  • CENTRAL BANK SAYS SHAREHOLDERS FAILED TO RECAPITALISE SKYE BANK.

  • ISTANBUL, Sept 21- Investors had hoped Turkey would announce a sweeping plan to help its banks when Finance Minister Berat Albayrak rolled out a new economic programme this week. Albayrak announced sharply lower growth forecasts for this year and next and promised $12 billion in new savings and revenue for 2019, but failed to mollify investors who wanted to...

  • ISTANBUL, Sept 21- Investors had hoped Turkey would announce a sweeping plan to help its banks when Finance Minister Berat Albayrak rolled out a new economic program this week. Albayrak announced sharply lower growth forecasts for this year and next and promised $12 billion in new savings and revenue for 2019, but failed to mollify investors who wanted to see...

  • *British crime agency investigating UK- registered firms. COPENHAGEN/ LONDON, Sept 21- Danske Bank's money laundering scandal spread on Friday to Britain where the National Crime Agency said it is investigating the use of UK- registered companies. Britain's NCA said it was "aware of the use of UK registered companies in this case and has related on-going...

  • Wells Fargo announced it plans to cut up to 26,500 workers, about 10 percent of its workforce. The bank says it's streamlining operations, but some analysts disagree that's the primary reason for the cuts.

  • RBS later on Friday said it had fixed the problems, which followed similar outages on Thursday that hit Barclays, the Co-operative Bank and fintech firm Cashplus. Lawmakers on Britain's Treasury Select Committee, in letters published on Friday, called on Barclays and RBS to explain what caused the problems and set out how they would compensate customers who...

  • *British crime agency investigating UK- registered firms. COPENHAGEN/ LONDON, Sept 21- Danske Bank's money laundering scandal spread to Britain on Friday as the National Crime Agency said it is investigating the use of UK- registered companies. Britain's NCA said the threat posed by the use of UK- registered companies for money laundering was "widely recognised"...

  • Wells Fargo Chief Executive Officer and President Timothy Sloan testifies before the Senate Committee on Banking, Housing and Urban Affairs on Capitol Hill in Washington, Tuesday, Oct. 3, 2017, during a hearing on Wells Fargo after one year.

    CEO Tim Sloan informs Wells Fargo employees that as many as 26,500 positions will be eliminated.

  • RBS said it is working to fix problems with its online and mobile banking services on Friday, following similar outages on Thursday that hit Barclays, the Co-operative Bank and fintech firm Cashplus. RBS and Barclays are set to face calls from lawmakers on Britain's Treasury Select Committee to explain what caused the problems, a source familiar with the...

  • SHANGHAI/ BEIJING, Sept 21- China's ability to stabilize the yuan in recent weeks despite weak economic data and a further escalation in its trade war with the United States is reinforcing expectations that the central bank will cut banks' reserve ratios again within weeks. Such a move would underscore shifting policy priorities in Beijing, with growth...

  • Wells Fargo, which had a total of 264,500 employees as of June 30, said the latest reduction would reflect displacements as well as normal team-member attrition. Wells Fargo reported a lower-than-expected quarterly profit in July as lending activity slowed and the bank said much of the decline had to do with moves to avoid riskier loans. Wells Fargo's shares...

  • NEW YORK— Wells Fargo plans to cut up to 10 percent of its workforce over the next three years, the bank announced on Thursday, which will result in thousands of job losses for employees of the nation's third-largest bank. Wells Fargo& Co. Chief Executive Tim Sloan made the announcement to employees on Thursday. The San Francisco- based bank has been under multiple...

  • Sept 20- Wells Fargo& Co said on Thursday it would reduce its headcount by about 5 percent to 10 percent within the next three years. Wells Fargo, smarting from a prolonged sales scandal in its retail banking business, has been a subject of a number of regulatory probes. "We are addressing past issues, enhancing our focus on customers, strengthening risk management...

  • ANKARA, Sept 20- Turkey sharply cut its growth forecasts for this year and next on Thursday, a reduction that failed to mollify investors who wanted a more sober assessment of the fragile economy and a sweeping plan to help banks. The lira currency has plunged by 40 percent this year on concerns about President Tayyip Erdogan's influence over monetary policy and...

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