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Fitch Ratings ING Groep N.V. Ratings Report 2020-10-15
Banks Universal Commercial Banks Netherlands ING Groep N.V. Ratings Foreign Currency Long-Term IDR A+ Short-Term IDR F1 Derivative Counterparty Rating A+(dcr) Viability Rating a+ Key Rating Drivers Support Rating 5 Support Rating Floor NF Robust Company Profile, Solid Capitalisation: ING Groep N.V.’s ratings are supported by its leading franchise in retail and commercial banking in the Benelux region and adequate Sovereign Risk diversification in selected countries. The bank's resilient and diversified business model Long-Term Local- and Foreign- AAA emphasises lending operations with moderate exposure to volatile businesses, and it has a Currency IDRs sound record of earnings generation. The ratings also reflect the group's sound capital ratios Country Ceiling AAA and balanced funding profile. Outlooks Pandemic Stress: ING has enough rating headroom to absorb the deterioration in financial Long-Term Foreign-Currency Negative performance due to the economic fallout from the coronavirus crisis. The Negative Outlook IDR reflects the downside risks to Fitch’s baseline scenario, as pressure on the ratings would Sovereign Long-Term Local- and Negative increase substantially if the downturn is deeper or more prolonged than we currently expect. Foreign-Currency IDRs Asset Quality: The Stage 3 loan ratio remained sound at 2% at end-June 2020 despite the economic disruption generated by the lockdowns in the countries where ING operates. Fitch Applicable Criteria expects higher inflows of impaired loans from 4Q20 as the various support measures mature, driven by SMEs and mid-corporate borrowers and more vulnerable sectors such as oil and gas, Bank Rating Criteria (February 2020) shipping and transportation. -
High-Quality Service Is Key Differentiator for European Banks 2018 Greenwich Leaders: European Large Corporate Banking and Cash Management
High-Quality Service is Key Differentiator for European Banks 2018 Greenwich Leaders: European Large Corporate Banking and Cash Management Q1 2018 After weathering the chaos of the financial crisis and the subsequent restructuring of the European banking industry, Europe’s largest companies are enjoying a welcome phase of stability in their banking relationships. Credit is abundant (at least for big companies with good credit ratings), service is good and getting better, and banks are getting easier to work with. Aside from European corporates, the primary beneficiaries of this new stability are the big banks that already count many of Europe’s largest companies as clients. At the top of that list sits BNP Paribas, which is used for corporate banking by 65% of Europe’s largest companies. HSBC is next at 56%, followed by Deutsche Bank at 43%, UniCredit at 38% and Citi at 37%. These banks are the 2018 Greenwich Share Leaders℠ in European Top-Tier Large Corporate Banking. Greenwich Share Leaders — 2018 GREENWICH ASSOCIATES Greenwich Share20 1Leade8r European Top-Tier Large Corporate Banking Market Penetration Eurozone Top-Tier Large Corporate Banking Market Penetration Bank Market Penetration Statistical Rank Bank Market Penetration Statistical Rank BNP Paribas 1 BNP Paribas 1 HSBC 2 HSBC 2 Deutsche Bank 3 UniCredit 3T UniCredit 4T Deutsche Bank 3T Citi 4T Commerzbank 5T ING Bank 5T Note: Based on 576 respondents from top-tier companies. Note: Based on 360 respondents from top-tier companies. European Top-Tier Large Corporate Eurozone Top-Tier Large Corporate Cash Management Market Penetration Cash Management Market Penetration Bank Market Penetration Statistical Rank Bank Market Penetration Statistical Rank BNP Paribas ¡ 1 BNP Paribas 1 HSBC 2 HSBC 2T Deutsche Bank 3 UniCredit 2T Citi 4T Deutsche Bank 4 UniCredit 4T Commerzbank 5T ING Bank 5T Note: Based on 605 respondents from top-tier companies. -
Handelsbanken Nederland Factsheet
Handelsbanken Nederland Factsheet HANDELSBANKEN GROEP HANDELSBANKEN NEDERLAND - Opgericht in 1871 in Stockholm, Zweden; - Bank voor particulieren, ondernemers en - Beursgenoteerde, internationaal opererende bank bedrijven. Maatwerk, hoge servicekwaliteit in meer dan 20 landen, met ruim 800 kantoren en en een persoonlijke aanpak kenmerken onze meer dan 12.000 medewerkers; dienstverlening; - Lokale aanwezigheid, diepgaande kennis van de - Sterk in hypotheken en financieringen; een volledig lokale markt, hoge klanttevredenheid en hoge aanbod van diensten voor particulieren op het kwaliteit van uitstaande kredieten; gebied van betalen en sparen; - Conservatief risicoprofiel resulteert in lage - Vermogensbeheer via Optimix, een volledige kredietverliezen (2018: 0,04%); dochteronderneming van Handelsbanken; - De bank heeft geen verkoopdoelstellingen; - Internationale financierings- en cashmanagement- - Handelsbanken heeft nooit overheidssteun nodig oplossingen via wereldwijd kantorennetwerk; gehad, ook niet tijdens de financiële crisis; - Geen bonussen voor management en - Nederland is één van de zes thuismarkten van medewerkers; Handelsbanken, naast Zweden, het Verenigd - Aantal medewerkers in Nederland: 307 (Q4 2018). Koninkrijk, Denemarken, Finland en Noorwegen. LANDELIJK KANTORENNETWERK ONZE FILOSOFIE 29 kantoren door heel Nederland, met opening van Handelsbanken is een bank met een sterk nieuwe kantoren in de planning. gedecentraliseerde en kostenefficiënte manier van werken. Kantoren kunnen lokaal, dicht bij de klant, Alkmaar Breda Maastricht -
Lloyds Banking Group PLC
Lloyds Banking Group PLC Primary Credit Analyst: Nigel Greenwood, London (44) 20-7176-1066; [email protected] Secondary Contact: Richard Barnes, London (44) 20-7176-7227; [email protected] Table Of Contents Major Rating Factors Outlook Rationale Related Criteria Related Research WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JUNE 5, 2020 1 THIS WAS PREPARED EXCLUSIVELY FOR USER CIARAN TRELLIS. NOT FOR REDISTRIBUTION UNLESS OTHERWISE PERMITTED. Lloyds Banking Group PLC Major Rating Factors Issuer Credit Rating BBB+/Negative/A-2 Strengths: Weaknesses: • Market-leading franchise in U.K. retail banking, and • Geographically concentrated in the U.K., which is strong positions in U.K. corporate banking and now in recession owing to the impact of COVID-19. insurance. • Our risk-adjusted capital (RAC) ratio is lower than • Cost-efficient operating model that supports strong the average for U.K. peers, which partly reflects the pre-provision profitability, business stability, and deduction of Lloyds' material investment in its competitiveness. insurance business. • Supportive funding and liquidity profiles anchored by strong deposit franchise. WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JUNE 5, 2020 2 THIS WAS PREPARED EXCLUSIVELY FOR USER CIARAN TRELLIS. NOT FOR REDISTRIBUTION UNLESS OTHERWISE PERMITTED. Lloyds Banking Group PLC Outlook The negative outlook on Lloyds Banking Group reflects potential earnings pressures arising from the economic and market impact of the COVID-19 pandemic. Downside scenario If we saw clear signs that the U.K. systemwide domestic loan loss rate was going to exceed 100 basis points in 2020, and not be offset by the prospect of a quick economic recovery, we would likely lower the anchor, our starting point for rating U.K. -
ING Credit Update 4Q2020
ING Credit Update 4Q2020 ING Investor Relations 12 February 2021 Key points . 2020 was a year marked by the Covid-19 pandemic and the unprecedented challenges it presented to our customers, employees and society. We continue to take actions to provide support and with vaccination programmes being rolled out globally, we look forward to return to more normal circumstances in the near future . We continue our efforts to build a sustainable company, also reflected in our strong ESG profile . The current environment underscores the strength of our digital business model. We continued to grow primary customers, as they choose us as their go-to bank, while mobile interactions further increased . Pre-provision result was resilient, though the impact from Covid-19 is visible, most notably on lending and savings. After years of growth, 2020 net core lending was down by €2.5 bln, while net deposit inflow was high at €41.4 bln . Fee growth was good, as our actions on investment products and daily banking more than compensated for the impact of the Covid-19 pandemic on fees for payments and lending . 2020 risk costs were €2.7 bln with ~30% in Stage 1 and 2, mainly due to Covid-19, reflecting IFRS 9 related provisions and management overlays. For 2021 we expect to move close to our through-the–cycle average of ~25 bps . The Stage 3 ratio remained low at 1.7% and we are confident on the quality of our loan book, supported by a proven risk management framework with a strong track record, also compared to peers . -
Nyse Euronext Announces Implementation Team for New European Clearing Houses
CONTACT - Media: CONTACT - Investor Relations: nyx.com Amsterdam +31.20.550.4488 Brussels +32.2.509.1392 New York +1.212.656.5700 Please follow us at: Lisbon +351.217.900.029 London +44.20.7379.2789 Paris +33.1.49.27.58.60 Exchanges blog New York +1.212.656.2411 Paris +33.1.49.27.11.33 Facebook Twitter NYSE EURONEXT ANNOUNCES IMPLEMENTATION TEAM FOR NEW EUROPEAN CLEARING HOUSES LONDON, PARIS Wednesday 17 November 2010. Following its May announcement that it plans to launch two purpose-built clearing houses in London and Paris before the end of 2012, NYSE Euronext (NYX) today announced the leadership team which will be engaging with our customers and partners on the delivery of the project. Mark Ibbotson, formerly the Chief Operating Officer of NYSE Euronext’s Global Derivatives segment, will lead the implementation team as Executive Vice President, Global Clearing, reporting to Duncan Niederauer, the Group Chief Executive Officer. Reporting to Mr. Ibbotson will be Declan Ward, Executive Director of NYSE Liffe Clearing in London, and Michel Favreau, the Company’s Clearing Project Director in Paris. Mr. Niederauer said : “Our new European Clearing Houses will be central to our strategy of expanding our community, delivering value to customers and diversifying the business mix of NYSE Euronext. This initiative will substantially extend our post-trade capabilities and build on our existing London NYSE Liffe Clearing operations as well as our launch of NYPC in the U.S. early next year. Mark Ibbotson and his team have an exciting task ahead to develop new and innovative clearing solutions for our customers which will enable further growth in our trading franchises and open up new opportunities in clearing.” Mark Ibbotson added: “This is a very exciting opportunity to work with our customers and the wider community to develop purpose-built clearing houses in London and Paris which will deliver genuine added value to the marketplace. -
Banking on Amazon Destruction
Banking on Amazon Destruction How European and U.S. banks fund the oil and gas industry despite environmental and social risks driving the Amazon over the brink An oil barge that says “Danger, Combustible, No smoking” outside a PetroPeru operation site in the Peruvian Amazon. ©Amazon Watch CONTENTS 4 Executive Summary 64 Case study 1: Petroecuador’s big project 10 Introduction 66 Case Study 2: Gran Tierra 16 The risk of Amazon destruction in the Putumayo 16 The Amazon at a tipping point 68 Case study 3: Gunvor’s 27 The solution is exclusion legacy of corruption 27 An Amazon oil and gas exclusion 70 Annex 1: Oil and gas companies framework active in the Amazon 32 How the banks stack up 75 Annex 2: Detailed Methodology 36 The Frontrunners 37 The Contenders 39 The Followers 40 The Laggards 42 Detailed Analysis 42 Commitments, governance, and engagement 45 Managing key environmental and social risks 46 Oil expansion and its effects on the climate 48 Deforestation 51 Biodiversity loss 54 Indigenous peoples’ rights 57 Pollution 59 Corruption Credits Lead author: Additional writing: Additional research: Cover photo: Back cover: Report design: Angeline Robertson Amazon Watch Chris Kuveke Deforestation in Xingu & Kayapo, ©Amazon Watch Erika Rathje Stand.earth Research Group Brazil. ©Mídia Índia Deforestation in Xingu & Kayapo, Brazil. ©Mídia Índia environmental and social risk (ESR) policies holds up against an assessment of their and end their trade financing. As we engaged current risk exposure from their finance in dialogue with these and other banks, we and investments in the top 90 oil and gas uncovered additional issues, loopholes, and companies active in the Amazon, as well as relationships, leading us to eventually identify any related controversies. -
State of the Banks
State of the Banks Assessing industry trends and key performance metrics of the four largest players in The Netherlands FY 2019 edition KPMG Netherlands kpmg.nl/financialservices © 2020 KPMG Advisory N.V. All rights reserved. State of the Banks - FY 2019 | 1 Contents Foreword 3 How banks can deliver value in a digital world 4 Macroeconomic trends 5 Hot topic: Rebuilding Customer Trust through Remediation 7 Financial Performance 10 Note: the analysis in this document is solely based on public available data and information reported by the institutions such as the company’s website, interim accounts, investor day presentations and press releases. © 2020 KPMG Advisory N.V., all right reserved. Foreword As we are finalizing this issue of the State of Banks, we already near the third week of very impactful societal measures such as social distancing, remote working and prohibition of public events all in response to the COVID-19 virus. If 2019 proved to be In only a few weeks the world has changed fundamentally and all of us are trying to cope as a challenging year well as we can with this new reality. In these challenging times, it is wonderful to see the for banks’ top- and tremendous efforts governments, regulators and businesses to keep people safe and healthy. bottom line, 2020 is Business continuity plans are actually working at scale and therefore most businesses are able to operate. likely to become even more Governments and banks have announced far reaching economic measures to proactively help challenging. The businesses and consumers to economically weather this storm. -
The Dynamics of Stock Market Development in the United States of America
Risk governance & control: financial markets & institutions / Volume 3, Issue 1, 2013, Continued - 1 THE DYNAMICS OF STOCK MARKET DEVELOPMENT IN THE UNITED STATES OF AMERICA Sheilla Nyasha*, NM Odhiambo** Abstract This paper highlights the origin and development of the stock market in the United States of America. The country consists of several stock exchanges, with the three largest being the NYSE Euronext (NYX), National Association of Securities Dealers Automated Quotation (NASDAQ), and the Chicago Stock Exchange. Stock market reforms have been implemented since the stock market crash of 1929; and the exchanges responded positively to some of these reforms, but not so positively to some of the reforms. As a result of the reforms, the U.S. stock market has developed in terms of market capitalisation, the total value of stocks traded, and the turnover ratio. Although the U.S. stock market has developed over the years, its market still faces wide-ranging challenges. Keywords: United States of America, New York Stock Exchange Euronext, NASDAQ, Stock Market, Reforms *Department of Economics, University of South Africa, P.O Box 392, UNISA, 0003, Pretoria, South Africa Email: [email protected] **Corresponding author. Department of Economics, University of South Africa, P.O Box 392, UNISA, 0003, Pretoria, South Africa Email: [email protected], [email protected] 1 Introduction investors, but they also facilitate the inflow of foreign financial resources into the domestic economy; and Stock market development is an important component they promote risky, entrepreneurial investments of financial sector development, and it supplements through their risk-sharing and monitoring functions. the role of the banking system in economic Even the most recent studies have confirmed the vital development. -
Soft Commitments, Hard Lessons: an Analysis of the Soft Commodities Compact
Soft Commitments, Hard Lessons: an analysis of the Soft Commodities Compact December 2020 1 Contents 1. Summary ............................................................................ 4 2. Introduction - what is at stake? ............................................ 5 3. About the Soft Commodities Compact ................................... 6 3.1 The problem with ‘zero net’ ...................................................... 7 3.2 Certification schemes: up to the job? ....................................... 8 4. Methodology and scope ......................................................10 5. Our findings .......................................................................11 5.1 Table of results ........................................................................ 11 5.2 Exposure to forest-risk commodities ..................................... 12 5.3 Commentary on findings ....................................................... 12 6. Findings per bank ...............................................................14 6.1 Barclays .................................................................................... 14 6.2 BNP Paribas ............................................................................. 16 6.3 Deutsche Bank ......................................................................... 18 6.4 JPMorgan Chase ...................................................................... 20 6.5 Lloyds Banking Group ............................................................. 22 6.6 NatWest Group ....................................................................... -
RABOBANK ISSUES EUR 1.5 BILLION EUROBOND Press Release
Rabobank Nederland Press Department For information Véronique Schyns Address Croeselaan 18, 3521 CB Utrecht, The Date 8 January 2003 P.O. Box Netherlands 17100, 3500 HG Utrecht, The Netherlands Phone Fax + 31 30 216 24 60 Internet Www.rabobankgroep.nl/persinformatie Press Release RABOBANK ISSUES EUR 1.5 BILLION EUROBOND Today Rabobank issued an EUR 1.5 billion eurobond as part of its normal borrowing program. The proceeds will be used to finance the activities of the Rabobank Group. The issue was arranged by Rabobank International, CSFB and Barclays Capital. Issuer : Rabobank Nederland Currency : EUR 1.5 billion Status : senior, unsubordinated Coupon : 3.625% annually Issue date : 22 January 2003 Maturity : 22 January 2008 Redemption Price : 100% Issue price : 101.333 % Denominations : EUR 1,000 EUR 10,000 EUR 100,000 Listing : Euronext This week Rabobank Nederland also issued a bond in Canadian dollars (200 million, 5 year maturity, coupon 4.25%) and Rabo Australia Ltd issued a bond in New Zealand dollars (100 million, 5 year maturity, coupon 6.25%). “The successful bond issues show that there is worldwide sufficient liquidity in the market for highly rated issuers at the right price”, says Haijo Dijkstra, head of Funding of the Rabobank Group. Note for the editor: About the Rabobank Group The Rabobank Group is a broad financial services provider. Its cooperative foundation has given it a clear customer focus. All the divisions of the Group work in close cooperation in order to jointly offer customers the best possible price-quality ratio and a wide range of financial services and products, such as payment, saving, lending, insuring and investing. -
Monthly Short Sales Client Specification
Document title MONTHLY SHORT SALES CLIENT SPECIFICATION NYSE MONTHLY SHORT SALES NYSE AMERICAN MONTHLY SHORT SALES NYSE ARCA MONTHLY SHORT SALES NYSE NATIONAL MONTHLY SHORT SALES (April 30, 2018) Version Date 1.2b February 5, 2018 © Copyright 2017 Intercontinental Exchange, Inc. ALL RIGHTS RESERVED. INTERCONTINENTAL EXCHANGE, INC. AND ITS AFFILIATES WHICH INCLUDE THE NEW YORK STOCK EXCHANGE, (“ICE” AND “NYSE”) MAKE NO WARRANTY WHATSOEVER AS TO THE PRODUCT DESCRIBED IN THESE MATERIALS EXPRESS OR IMPLIED, AND THE PRODUCT IS PROVIDED ON AN “AS IS” BASIS. ICE AND NYSE EXPRESSLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. NEITHER ICE, NYSE NOR THEIR RESPECTIVE DIRECTORS, MANAGERS, OFFICERS, AFFILIATES, SUBSIDIARIES, SHAREHOLDERS, EMPLOYEES OR AGENTS MAKE ANY WARRANTY WITH RESPECT TO, AND NO SUCH PARTY SHALL HAVE ANY LIABILITY FOR (i) THE ACCURACY, TIMELINESS, COMPLETENESS, RELIABILITY, PERFORMANCE OR CONTINUED AVAILABILITY OF PRODUCT, OR (ii) DELAYS, OMISSIONS OR INTERRUPTIONS THEREIN. ICE AND NYSE DO NOT, AND SHALL HAVE NO DUTY OR OBLIGATION TO, VERIFY, MONITOR, CONTROL OR REVIEW ANY INFORMATION IN RELATION TO THE PRODUCT. ICE/NYSE MONTHLY SHORT SALES CLIENT SPECIFICATION V1.2B PREFACE DOCUMENT HISTORY The following table provides a description of all changes to this document. VERSION DATE CHANGE DESCRIPTION NO. 1.0 01/02/2012 Approved version for release 1.1 6/13/2012 Updated references to NYSE MKT 08/03/2012 Document rebranded with new NYSE Technologies template 1.2 02/24/2017 Rebranded to ICE