OCBC Bank: OCBC Group reported a record quarterly net profit of S$ 832 million (US$ 665 million) for the first quarter of 2012, up 32% from a year ago and 40% from the previous quarter.
ING Group: ING Group reports first quarter 2012 net income of €680 million, compared to €1,381 million in the first quarter 2011. More
KBC Group: KBC ended the first three months of 2012 with a net profit of €380 million, compared with a net profit of €437 million in the previous quarter and €821 million in the corresponding quarter of 2011.
BNP Paribas: BNP Paribas reports first quarter 2012 net income of €2,867 million, compared to €2,616 million in the first quarter 2011 (up 9.6%).
UBS: UBS reports first quarter 2012 net income of CHF 827 million (approx. €688), compared to CHF 1,807 million in the first quarter 2011 (down 54%).
Deutsche Bank: Deutsche Bank reports first quarter 2012 net income of €1,401 million, compared to €2,130 million in the first quarter 2011 (down 34.2%).
Banco Bilbao Vizcaya Argentaria (BBVA): BBVA Group reports first quarter 2012 net income of €1,005 million, compared to €1,150 million in the first quarter 2011 (down 12.6%).
Financial News
Rating agency Moody's downgrades 16 Spanish banks - 18.05.2012 Rating agency Moody's downgraded 16 Spanish banks on Thursday, the latest sign of distress in Europe. Among those downgraded were giants Banco Santander and BBVA, the country's two largest banks. Source: CNNMoney
Middle East's Leading Banking Technology & Innovation Summit to be held in Dubai - 07.05.2012 Following on from the success of the 2011 Middle East Banking Technology & Innovation Summit, Expotrade announces that this year’s event will once again take place in Dubai on the 1-2 October 2012. This year’s conference will focus on strengthening the Middle Eastern banking and financial industry’s position within the global market. Source: Expotrade
More than 2.5 billion people around the world don’t have a bank account - 23.04.2012 Three quarters of the world’s poor don’t have a bank account, not only because of poverty, but the cost, travel distance and amount of paper work involved in opening an account, according to new data released by the World Bank. Source: World Bank
No breakthrough in Swiss-US tax dispute despite talks - 22.04.2012 Talks between senior U.S. and Swiss officials about a dispute over unpaid taxes on accounts held in Swiss banks led to no breakthroughs, Swiss President Eveline Widmer-Schlumpf said on Saturday. Source: Reuters
Western Union to launch innovative payments platform WU Pay - 22.03.2012 The Western Union Company, a leader in global payment services, today announced that it will launch WU Pay, a new and innovative electronic payments platform that will significantly improve the customer experience and safety for millions of people seeking to make online payments or transfer money. Source: Western Union
U.S. Banks Complete Stress Tests - 14.03.2012 The majority of the largest banks will continue to have enough capital to satisfy regulators, even if they suffer a financial shock that includes unemployment hitting 13 percent and a 21 percent drop in housing prices, the Federal Reserve said on Tuesday. Source: Reuters
