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Virgin Money’s annual profit plunges by 77% to £124m
Virgin Money has reported a profit before tax of £124m in the fiscal year 2020, which is 77% lower compared…
Modulr secures £9m funding from PayPal Ventures
Modulr, the Payments as a Service API platform for digital businesses, has received a £9m investment from PayPal Ventures to…
Deutsche Bank Q1 2020 net profit down by 67% at €66m
Deutsche Bank announced a 67% drop in its net profit for the first quarter of 2020 at €66m, compared to…
EBRD divests 10% stake in Borsa Istanbul to Turkey Wealth Fund
The European Bank for Reconstruction and Development (EBRD) has sold its 10% stake in Borsa Istanbul to Turkey Wealth Fund…
Grab, Singtel collaborate for digital banking licence in Singapore
Singapore-based ridesharing company Grab Holdings and Singapore Telecommunications (Singtel) have established a consortium to apply for a digital full bank…
First Eagle Investment to acquire alternative credit manager THL Credit
First Eagle Investment Management, a New York-based investment management firm, has agreed to acquire THL Credit Advisors, an alternative credit…
Motive-led group to buy 60% stake in Fiserv’s Investment Services business
A group of investors led by Motive Partners have agreed to acquire a stake of up to 60% in Fiserv’s…
UK banks give coal projects £25bn in funding – despite Paris Agreement finance pledges
Four UK banks have collectively given the coal industry “life support” by pumping in almost £25bn since the 2015 Paris…
ABN AMRO closes 470 cash dispensers in Netherlands after explosive attacks
ABN AMRO revealed it has temporarily closed more than half of its cash dispensers in the Netherlands owing to an…
Don’t fight fire with fire: Why banks must become financial advisers to survive the digital age
For traditional banks, it's never been more competitive than right now as a host of fintechs seek to make significant…