News
RETAIL BANKING | Staff Reporter, Singapore
view(s)

Weekly Global News Wrap Up: BNP Paribas profit falls 17% in Q1; BofA pushes for cashless payments

And Greece's top banks would lose $18.6b of capital under stress.

From Reuters: BNP Paribas, France’s biggest bank, reported a 17 percent decline in quarterly net profit, in line with expectations, as a weaker dollar and sluggish fixed income trading impacted investment banking revenues. First-quarter net income fell to 1.57 billion euros ($1.9 billion), in line with analysts’ estimates of 1.55 billion euros, according to a Reuters poll of 5 analysts.

From CNBC: The rise of digital peer-to-peer payment services in the banking world is paving the way to a new, cashless reality, Bank of America's Head of Digital Banking, Michelle Moore, told CNBC. "We would like to get cash out of the system," Moore said in an interview with "Mad Money" host Jim Cramer. "It needs to be about security and ease." Bank of America is a leader in mobile and online banking, with 33 million digital customers including over 21 million mobile banking app users.

From Reuters via CNBC: Greece's four biggest banks would lose around 15.5 billion euros ($18.6 billion) worth of their capital by 2020, or 9 percentage points of capital under an adverse economic scenario, results of a stress test published by the European Central Bank showed on Saturday.The health check, aimed at uncovering any capital shortage before Athens exits its 86 billion euro ($106 billion) bailout in August, was carried out separately from a stress test of other euro zone banks.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.