Banking News

... It has been confirmed this morning that only 8.29% of shareholders of HBOS have signed up to the £4 billion rights issue. This amount was marginally worse than the market was expecting after Sunday...

... Reports in the Sunday newspapers have suggested that as few as 10% of shareholders have signed up to HBOS‘ £4 billion rights issue. The reports said the low take up would mean its...

... Citigroup, which is America’s largest bank, has posted a second quarter loss of $2.5 billion (£1.25 billion) as a result of further write-downs of $11.7 billion due to the credit crunch and...

... Britain’s third biggest bank, Barclays, has announced it has secured £4.5 billion from investors to shore up its balance sheet but ordinary shareholders only took 19% of new shares offered at 282p...

... UK troubled lender Bradford & Bingley (B&B) held its extraordinary general meeting today in Sheffield and its shareholders are backing the £400 million rights issue to shore up its balance...

... HBOS, Britain’s biggest mortgage lender, said 650 workers are to lose their jobs over the next 18 months as part of plans to merge two of its business banking divisions. The banking giant also...

... Investment banking giant, JP Morgan Chase, revealed that second-quarter profits fell 52% as it suffered a £550 million ($1.1 billion) loss on mortgage-related write-downs. Net income at the third...

... Shares in Alliance & Leicester (A&L) have rocketed 47% this morning after it has been revealed that Spanish bank Santander has agreed a deal to buy the former building society in a deal...

... According to Dave Rove, analyst with Ladenburg Thalmann, at least 150 US banks could collapse over the next two years. At present, there are over 7500 regional and national banks based within the...