RBS to slash 3,500 jobs further
Submitted by Faarooq Mehmood on Fri, 09/03/2010 - 08:33
The bank which is more than 80% government-owned, the Bank of Scotland, is planning to slash 3,500 jobs from its technical and back office department in the UK.
Approx a third of the job fatalities are as a outcome of RBS selling 318 of its wings to Santander, curtailing its number of customers and dealings.
The trade union, Unite portrayed the jobs losses as a horror story.
Anglo Irish Bank has reported a record loss of 6.7 billion pounds
Submitted by Akilah Amiri on Thu, 09/02/2010 - 08:14
The Anglo Irish Bank has reported its largest loss in the Irish business history. The nationalized bank has declared a record loss of 6.7 billion pounds in the first six months of this year. In the month of March the lender reported losses of 11.4 billion pounds for last 15 months.
SEBI lifts ban from Barclays for issuing derivatives
Submitted by Gurpreet Singh on Wed, 09/01/2010 - 05:17
SEBI has removed that ban that it had imposed on British bank, Barclays from issuing offshore derivative instruments.
This approval from the market regulator will allow the British bank to facilitate more investment from unregistered entities and would allow more foreign investment to come to Indian markets.
Banks are blocking homeowners’ renovation fun
Submitted by Faarooq Mehmood on Mon, 08/30/2010 - 15:50
The Australian banks are refusing to give funds to the homeowners who are looking to upgrade their homes and willing to live ion a bigger house. This move of the banks have caused the delay in home purchases and also forced the house owners to sell their old homes before buying new house to live in.
Operative becomes the first Australian bank in India
Submitted by Gurpreet Singh on Sat, 08/28/2010 - 19:20
Commonwealth Bank of Australia (CBA) has become the first bank in India operates.
Banks primarily in the areas of trade finance and foreign exchange remittances services will place its major focus. CBA's International Financial Services head Simon Blair has said that they are prioritized the development of the market of China, India, Indonesia and Vietnam.
Credit rating of Irish Republic is downgraded by rating agency
Submitted by Aabid Hussain on Sat, 08/28/2010 - 09:38
The credit rating of Irish Republic has been downgraded by a rating agency of the country, S&P. S&P has expressed its fears that the troubled banking sector of the country by growing costs could push down the finances of the government to lower stage.
Bank of Scotland to close its business operation in Ireland
Submitted by Aabid Hussain on Sat, 08/21/2010 - 12:57
The Bank of Scotland is planning to close its banking operations in Ireland. The Bank of Scotland Ireland is going to transfer its business to the parent company and the Belfast office will also be transferred.
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