People & Markets

Latest News

  • Intesa fires starting gun on new phase of Italian bank consolidation

    Intesa fires starting gun on new phase of Italian bank consolidation

    Intesa Sanpaolo took the market by surprise when it launched a takeover bid for UBI Banca this week. A successful deal could set off a long overdue wave of mergers and acquisitions within the Italian banking sector, which ECM bankers are hoping will be financed through a slew of new rights issues. Tyler Davies and Sam Kerr report.

  • Sonia gets makeover as EBRD shifts new structure

    Sonia gets makeover as EBRD shifts new structure

    The European Bank for Reconstruction and Development this week became the first borrower to deviate from the standardised coupon calculation method for Sonia-linked floating rates. While investors backed the new structure, with the deal receiving a huge order book from a large number of accounts, there are some market participants who believe the disruption was unnecessary, writes Burhan Khadbai.

  • Italian assets fly as Intesa launches shock bid for UBI

    Italian assets fly as Intesa launches shock bid for UBI

    Intesa Sanpaolo caught the market by surprise when it launched a takeover bid for UBI Banca on Monday night. The announcement sent credit and equity valuations surging higher, with investors pinning their hopes on consolidation in the Italian banking sector.

  • Transition periods are key in minimising MREL impact, says EBA

    Transition periods are key in minimising MREL impact, says EBA

    Regulators are helping those banks most at risk of failing to meet their minimum requirements for own funds and eligible liabilities (MREL) by giving them extra time to prepare, a report from the European Banking Authority said this week.

  • HSBC plans to slim down rates, derivs, equities in Europe

    HSBC plans to slim down rates, derivs, equities in Europe

    HSBC’s new strategic plan involves numerous changes to its investment banking division, including shifting resources to Asia and the Middle East, reducing the scale of many operations in the European markets business, and combining product functions with commercial banking.

  • First senior NPL ABS of recent years tempts five new investors

    First senior NPL ABS of recent years tempts five new investors

    The first fully public syndicated sale of senior ABS backed by Italian non-performing loans in recent years has tempted five new investors to buy into the NPL asset class. Ten buyers were allocated bonds in the landmark deal, Futura 2019.

  • Rose to prune NatWest Markets, take secateurs to rates

    Rose to prune NatWest Markets, take secateurs to rates

    Royal Bank of Scotland — or NatWest Group, as it plans to rebrand itself later this year — is set to cut back risk-weighted assets in the investment bank, particularly in rates. The bank also committed to stricter lending and underwriting criteria for fossil fuel companies.

More Stories

Bank Results