Hints and tips:
...PNC, which has about $450bn in assets, would overtake Truist once the deal is completed with BBVA USA, which has more than $100bn in assets....
...“The line that was more challenging to manage was cost,” said Javier Rodríguez Soler, chief executive of BBVA USA....
...(FT) Women at the top USA The focus of this year’s event, which begins on Wednesday, is activism....
...BBVA, for its part, thinks that digital loans could be the new green bonds....
...The regulator is expected to exclude smaller US lenders and several foreign groups — including Spain’s BBVA, France’s BNP Paribas and Canada’s Bank of Montreal — from the most onerous part of the exercise...
...Shares in BBVA were down 5.7 per cent in late trading, wiping €2.4bn off its market capitalisation....
...Many banks in Mexico are part of international groups: Banamex belongs to Citi; BBVA Bancomer is Spanish-owned; HSBC is British; Scotiabank is Canadian. Clearing services are no problem for them....
...The LendKey and Lending Club deals were announced to coincide with the opening of LendIt USA, a big industry get-together in New York....
...Simon Richards, chief executive of Fonetic USA, said he hoped institutions in the City of London and Wall Street would soon deploy it too....
...Related reading: Brazilian pension funds go global, FT BBVA sells Mexican pension for $1.6bn, beyondbrics Fund management: the lure of LatAm, beyondbrics...
...BBVA lost 4.8 per cent to €6.20, while Banco Santander slid 4.5 per cent to €5.92. The Ibex 35 benchmark index dropped 3.9 per cent to 7,854.4....
...The bank, which like its rival BBVA now makes more than half its profits in Latin America, said on Thursday its quarterly pre-provision profit had nevertheless hit a record €6.28bn in the first three months...
...From being the region’s second biggest foreign investor in the 1990s (after the USA), Spain now ranks fourth, after the Netherlands and China....
...Deutsche Telekom was the index’s only faller, dropping 0.6 per cent to €8.84 after its deal to sell T-Mobile USA to AT&T fell through....
...BBVA and Santander, which bring in roughly half their revenues from emerging markets, are famous for such customer orientation. To be sure, the competition in these growth markets will be fierce....
...We also use the Federal Reserve SCAP methodology to assess cumulative loss at BBVA’s US business, BBVA Bancshares USA....
...This conclusion is robust almost no matter how you cut the BBVA USA data. I think we can safely conclude that BBVA is hiding its losses....
...Banco Popular fell 7.4 per cent to €14.69, while BBVA slipped 5.3 per cent to €17.71 and Santander lost 4.6 per cent to €13.21. The FTSE Eurofirst 300 made weekly losses of 0.8 per cent to 1,567.71....
...Banks were caught up in Tuesday’s sell-off, with Santander and BBVA, the two biggest, losing about 2.5 per cent apiece....
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