Responsible Banking 22 September 2019
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In This Issue
FI.News June 2019 In this issue: Island stopping: The importance of digital standards Supply chain finance: Making it more inclusive The Belt and Road Initiative: Bridging east and west Post-trade services: Delivering on new expectations Clearing the decks 10 Bridging east and west Making supply chain finance more inclusive 12 08 Contents Editorial welcome 03 Eye on the industry: Delivering on new 14 expectations in post-trade Big Interview: Island stopping 05 Regional spotlight: Are trade opportunities 16 in Africa shifting south? Innovation focus: Making supply chain 08 Regional focus: Seizing opportunities in 18 finance more inclusive central America Eye on the industry: Clearing the 10 News & awards 20 decks Expert view: Bridging east and west 12 Commerzbank in the press 22 2 Editorial welcome Never standing still Nikolaus Giesbert Divisional Board Member, Trade Finance & Cash Management While Commerzbank takes pride in its history, • Moving towards end-to-end, front-to-back, we are not a bank content to stand still. Having digital solutions; financed trade since 1870, we are accustomed to change. And today, technology, regulation • Being at the forefront of exploring how and changing client preferences stand to emerging technologies can transform fundamentally alter transaction banking, the landscape for trade finance and cash bringing new services, business models and management, and; competition. It’s a dynamic we are embracing. • Recognising permanent changes in the banking So rather than take a short-sighted view and sector and understanding the possibilities. focus simply on the automation of processes, we have invested resources and energy into Of course, extensive transformation must be digital transformation. -
Uncovering Opportunities in 2017 Deloitte Deleveraging Europe 2016 – 2017
Uncovering opportunities in 2017 Deloitte Deleveraging Europe 2016 – 2017 Financial Advisory Uncovering opportunities in 2017 | Deloitte Deleveraging Europe 2016 – 2017 Contents Introduction Introduction 01 The European loan portfolio market has regained much of the momentum it established over the last number of years. Uncertainty over the terms of Brexit and the US Presidential transition temporarily delayed deal Market overview 02 making in mid-2016, but the fundamental balance sheet and regulatory drivers of loan sale transactions proved stronger. Six months ago we forecast a second half resurgence in loan portfolio sales; that is what has Viewpoint: Risks and opportunities in 2017 06 happened, with more to come in 2017. United Kingdom and Ireland 07 By the numbers the leading European loan sale markets in reach something approaching a point of The record rate of loan disposals achieved in 2017. Portugal, which has yet to deliver a equilibrium. In the meantime we estimate Viewpoint: Banks still need to face reality 12 2015 has been repeated again in 2016, with significant deal flow, is likely to achieve more that there remains €2 trillion in unresolved Germany and the Netherlands just over €103 billion of completed deals for than the €1.8 billion of completed deals in non-core assets in Europe, suggesting that 13 the full year. Yet the Brexit-induced mid-year 2016, if pricing becomes more realistic. the loan sale market has the potential to Spain and Portugal 17 pause in dealmaking had an impact on the expand in 2017. final deal numbers. The number of ongoing Different markets, changing assets Italy 23 deals at the end of 2016 is considerable, with These markets will take the lead from Ireland Headline facts and figures 56 deals representing €70 billion by value. -
Caglesmmvig Abanca Corporacion Bancaria, S.A. Casdesbbxxx Arquia Bank, S.A. Bmares2mxxx Banca March, S.A. Bapues22xxx Banca Pueyo, S.A
Classified as Internal / Clasificado como Interno# ENTIDADES PARTICIPANTES Y CÓDIGOS BIC OPERATIVOS EN EL SISTEMA ARCO PARTICIPANT ENTITIES AND OPERATIONAL BIC CODES IN ARCO SYSTEM CÓDIGO BIC ENTIDAD CAGLESMMVIG ABANCA CORPORACION BANCARIA, S.A. CASDESBBXXX ARQUIA BANK, S.A. BMARES2MXXX BANCA MARCH, S.A. BAPUES22XXX BANCA PUEYO, S.A. BBVAESMMXXX BANCO BILBAO VIZCAYA ARGENTARIA, S.A. BBVAESMMBAG BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (entidad agente) CCOCESMMRVN BANCO CAMINOS, S.A. CCOCESMMXXX BANCO CAMINOS, S.A. BCOEESMMRVN BANCO COOPERATIVO ESPAÑOL, S.A. BCOEESMMXXX BANCO COOPERATIVO ESPAÑOL, S.A. ALCLESMMXXX BANCO DE ALCALA, S.A. BCCAESMMXXX BANCO DE CREDITO SOCIAL COOPERATIVO ESPBESMMXXX BANCO DE ESPAÑA ESPBESM1CDI BANCO DE ESPAÑA - CUENTAS DIRECTA ESPBESM1AMF BANCO DE ESPAÑA - FROB FFA ESPBESM1OFI BANCO DE ESPAÑA, OPERACIONES FINANCIACION INTRADIA ESPBESMMAFD BANCO DE ESPAÑA. AGENTE FINANCIERO DEUDA (entidad agente) ESPBESMMRMS BANCO DE ESPAÑA. RMS ESPBESMMCCB BANCO DE ESPAÑA CORRESPONSALÍA DE VALORES BSABESBBXXX BANCO DE SABADELL, S.A BSABESBBBME BANCO DE SABADELL, S.A (entidad agente) BSABESBBEAG BANCO DE SABADELL, S.A (entidad agente) BFIAPTPLXXX BANCO FINATIA, S.A. (entidad agente) INVLESMMXXX BANCO INVERSIS, S.A. INVLESMMOPS BANCO INVERSIS, S.A. (entidad agente) BFIVESBBRFP BANCO MEDIOLANUM, S A BFIVESBBXXX BANCO MEDIOLANUM, S.A. BSCHESMMXXX BANCO SANTANDER, S.A. BSCHESMMAGE BANCO SANTANDER, S.A. (entidad agente) BSCHESMMBME BANCO SANTANDER, S.A. (entidad agente) CAHMESMMXXX BANKIA, S.A. BKBKESMMBAC BANKINTER, S.A. BKBKESMMXXX BANKINTER, S.A. BKOAES22XXX BANKOA S.A. BARCGB22XXX BARCLAYS BANK PLC. ESPBESMMPLV BE. PROGRAMA DE LENDING PSPP. VALORES CMBOESMMBK2 BEKA FINANCE (entidad agente) MEFFESBBCRF BME CLEARING S.A.U. MEFFESBBCRV BME CLEARING, S.A. - CAMARA DE RENTA VARIABLE MEFFESBBMRV BME CLEARING, S.A.U. -
ABANCA CORPORACIÓN BANCARIA, S.A. €375,000,000 Perpetual Non-Cumulative Additional Tier 1 Preferred Securities
ABANCA CORPORACIÓN BANCARIA, S.A. (incorporated as a limited liability company (sociedad anónima) under the laws of the Kingdom of Spain) €375,000,000 Perpetual Non-Cumulative Additional Tier 1 Preferred Securities The issue price of the €375,000,000 Perpetual Non-Cumulative Additional Tier 1 Preferred Securities of €200,000 of Original Principal Amount each (as defined in the terms and conditions of the Preferred Securities (the "Conditions")) (the "Preferred Securities") of ABANCA Corporación Bancaria, S.A. (the "Issuer" or "Bank" or "ABANCA") is 100% of their principal amount. The Preferred Securities have been issued on 20 January 2021 (the "Issue Date"). The Bank and its consolidated subsidiaries are referred to herein as the "ABANCA Group". The Preferred Securities will accrue non-cumulative cash distributions ("Distributions") on their Outstanding Principal Amount (as defined in the Conditions), as follows: (i) in respect of the period from (and including) the Issue Date to (but excluding) 20 July 2026 (the "First Reset Date"), at the rate of 6% per annum, and (ii) in respect of each period from (and including) the First Reset Date and every fifth anniversary thereof (each a "Reset Date") to (but excluding) the next succeeding Reset Date (each such period, a "Reset Period"), at the rate per annum, calculated on an annual basis and then converted to a quarterly rate in accordance with market convention, equal to the aggregate of 6.57% per annum (the "Initial Margin") and the 5- year Mid-Swap Rate (as defined in the Conditions) for the relevant Reset Period. Subject as provided in the Conditions, such Distributions will be payable quarterly in arrear on 20 January, 20 April, 20 July and 20 October in each year (each a "Distribution Payment Date"). -
ABANCA and Crédit Agricole Assurances Announce They Have
ABANCA and Crédit Agricole Assurances announce they have signed a partnership for the creation of a property and casualty insurance company aimed at the Spanish and Portuguese market • The new joint venture will be based in Galicia and will combine ABANCA's knowledge of the customer base with Crédit Agricole Assurances’ technical and product expertise. • This agreement will see Europe’s leading bancassurer team up with the Galician financial institution as part of a long-term arrangement. • The new company will take a disruptive approach to develop technological solutions tailored to the needs of its customers and to expand its activity. 08/07/2019. ABANCA and Crédit Agricole Assurances are today announcing the signature of a 30-year partnership agreement to carry out property and casualty insurance activities in Spain and Portugal. Under this agreement, Europe’s leading bancassurer will team up with the financial institution to create a 50/50 joint venture offering innovative products that draw on stand-out technological solutions and customer experience. The alliance will combine ABANCA's customer knowledge with Crédit Agricole Assurances’ acquired scale on the European insurance market. The press conference was attended by Crédit Agricole Assurances’ Chief Executive Officer and Head of International Insurance, Frédéric Thomas and Guillaume Oreckin, and ABANCA's Chairman and Chief Executive Officer, Juan Carlos Escotet Rodríguez and Francisco Botas Ratera “To achieve our growth objectives, we need to work with a powerful industry player -
Press Release
PRESS RELEASE R3’s distributed ledger initiative grows to 42 bank members and looks to extend reach to the broader financial services community Next phase of engagement to start in January and focus on non-bank institutions December 17, 2015 (New York/San Francisco/London) – Financial innovation company R3 has concluded its distributed ledger bank membership round with the addition of 12 new banks, bringing the total number to 42. Since its September launch, the company has seen a groundswell of interest in the consortium from financial services companies around the world. Having built a network that includes most of the world’s major global banks, and with the window for the admission of new bank members having closed under the consortium’s formative agreement, R3 will now focus efforts on broader engagement with a diverse range of institutions outside of the banking industry. As part of that initiative, R3 is considering options for participation in the consortium by various categories of non-bank institutions after the first of the year. David Rutter, CEO of R3 comments: “Partnering with a broad range of institutions has always been central to our strategy of developing distributed ledger technologies that will truly benefit the financial services industry as a whole. Securing the backing of 42 of the world’s leading banks demonstrates the level of interest in our initiative, and we now look forward to exploring collaboration with non-bank institutions and expanding our already diverse group.” BMO Financial Group, Danske Bank, Intesa Sanpaolo, Natixis, Nomura, Northern Trust, OP Financial Group, Banco Santander, Scotiabank, Sumitomo Mitsui Banking Corporation, U.S. -
Over 100 Global Financial Institutions Are Exiting Coal, with More to Come Every Two Weeks a Bank, Insurer Or Lender Announces New Restrictions on Coal
Tim Buckley 1 Director of Energy Finance Studies, Australasia 27 February 2019 Over 100 Global Financial Institutions Are Exiting Coal, With More to Come Every Two Weeks a Bank, Insurer or Lender Announces New Restrictions on Coal Executive Summary Today, over 100 globally significant financial institutions have divested from thermal coal, including 40% of the top 40 global banks and 20 globally significant insurers. Momentum is building. Since January 2018, a bank or insurer announced their divestment from coal mining and/or coal-fired power plants Global capital is fleeing every month, and a financial institution the coal sector. who had previously announced a divestment/exclusion policy tightened This is no passing fad. up their policy to remove loopholes, every two weeks. In total, 34 coal divestment/restriction policy announcements have been made by globally significant financial institutions since the start of 2018. In the first nine weeks of 2019, there have been five new announcements of banks and insurers divesting from coal. Global capital is fleeing the thermal coal sector. This is no passing fad. Since 2013 more than 100 global financial institutions have made increasingly tight divestment/exclusion policies around thermal coal. When the World Bank Group moved to exit coal in 2013, the ball started rolling. Following, Axa and Allianz become the first global insurers to restrict coal insurance and investment respectively in 2015, and their policies have subsequently been materially enhanced. Next, some 35 export credit agencies (ECA) released a joint statement agreeing to new rules restricting coal power lending. In the same year, the China-led Asian Infrastructure Investment Bank trumpeted its global green credentials with the Chairman confirming the Bank was in practice ruling out finance for coal-fired power plants. -
Aareal Bank AG SSM > 900Bps ABANCA Corporación Bancaria S.A. SSM 300 to 599 Bps Alpha Services and Holdings S.A. SSM 600 To
High-level individual results by range adverse scenario, FL Maximum CET1 ratio Institution Sample (FL) depletion by ranges Aareal Bank AG SSM > 900bps ABANCA Corporación Bancaria S.A. SSM 300 to 599 bps Alpha Services and Holdings S.A. SSM 600 to 899 bps Argenta Bank- en Verzekeringsgroep NV SSM 300 to 599 bps AXA Bank Belgium SA ; AXA Bank Belgium NV SSM 600 to 899 bps Banca Carige S.p.A. - Cassa di Risparmio di Genova e Imperia SSM > 900bps Banca Popolare di Sondrio, Società Cooperativa per Azioni SSM 600 to 899 bps Banco de Crédito Social Cooperativo, S.A. SSM 300 to 599 bps Bank of America Europe Designated Activity Company SSM > 900bps Bank of Cyprus Holdings Public Limited Company SSM 600 to 899 bps Bank of Valletta plc SSM > 900bps Banque Degroof Petercam SA SSM 600 to 899 bps Banque et Caisse d’Epargne de l’Etat, Luxembourg SSM 300 to 599 bps Banque Internationale à Luxembourg S.A. SSM 600 to 899 bps BAWAG Group AG SSM < 300bps Biser Topco S.à.r.l. SSM 300 to 599 bps Bpifrance SSM > 900bps C.R.H. - Caisse de Refinancement de l’Habitat SSM < 300bps Citibank Holdings Ireland Limited SSM < 300bps Credito Emiliano Holding S.p.A. SSM < 300bps de Volksbank N.V. SSM > 900bps DekaBank Deutsche Girozentrale SSM 300 to 599 bps Deutsche Apotheker- und Ärztebank eG SSM 300 to 599 bps Deutsche Pfandbriefbank AG SSM 300 to 599 bps Erwerbsgesellschaft der S-Finanzgruppe mbH & Co. KG SSM 300 to 599 bps Eurobank Ergasias Services and Holdings S.A. -
Fondos De Inversión ANEXO A1.1 Sep-15
Fondos de inversión ANEXO A1.1 sep-15 Fondo Compartimento Clase Código ISIN Sociedad Gestora Entidad Depositaria Grupo Financiero 1 KESSLER CASADEVALL, FI - - ES0156304000 GVC GAESCO GESTIÓN, SGIIC, S.A. SANTANDER SECURITIES SERVICES, S.A. GVC GAESCO 30-70 INVERSION, FI - - ES0184833038 INVERCAIXA GESTION, S.A., SGIIC CECABANK, S.A. LA CAIXA A&G TESORERIA, FI - - ES0156873004 A&G FONDOS, SGIIC, SA SANTANDER SECURITIES SERVICES, S.A. EFG BANK ABACO GLOBAL VALUE OPPORTUNITIES FI - A ES0140074008 ABACO CAPITAL, SGIIC, S.A. UBS BANK, S.A. ABACO CAPITAL - B ES0140074016 ABACO CAPITAL, SGIIC, S.A. UBS BANK, S.A. ABACO CAPITAL ABACO RENTA FIJA MIXTA GLOBAL, FI - - ES0140072002 ABACO CAPITAL, SGIIC, S.A. UBS BANK, S.A. ABACO CAPITAL ABANCA FONDEPOSITO, FI - - ES0115019004 AHORRO CORPORACION GESTION, S.G.I.I.C., S.A. ABANCA CORPORACION BANCARIA, S.A. ABANCA ABANCA GARANTIA 3, FI - - ES0157082035 AHORRO CORPORACION GESTION, S.G.I.I.C., S.A. ABANCA CORPORACION BANCARIA, S.A. ABANCA ABANCA GARANTIA 4, FI - - ES0113250031 AHORRO CORPORACION GESTION, S.G.I.I.C., S.A. ABANCA CORPORACION BANCARIA, S.A. ABANCA ABANCA GARANTIA 5, FI - - ES0115081038 AHORRO CORPORACION GESTION, S.G.I.I.C., S.A. ABANCA CORPORACION BANCARIA, S.A. ABANCA ABANCA GARANTIA 6, FI - - ES0117182032 AHORRO CORPORACION GESTION, S.G.I.I.C., S.A. ABANCA CORPORACION BANCARIA, S.A. ABANCA ABANCA GARANTIZADO PREMIUM I, FI - - ES0105577037 AHORRO CORPORACION GESTION, S.G.I.I.C., S.A. ABANCA CORPORACION BANCARIA, S.A. ABANCA ABANCA GESTION, FI ABANCA GESTION /- ES0133400046 AHORRO CORPORACION GESTION, S.G.I.I.C., S.A. -
List of Our Main Reimbursing Banks for Receipt of Cover for Commercial Transactions
1 (2) © OP June 2018 LIST OF OUR MAIN REIMBURSING BANKS FOR RECEIPT OF COVER FOR COMMERCIAL TRANSACTIONS EURO ZONE OP Corporate Bank plc, Helsinki, OP Financial Group's central bank, acts as a direct clearing member of EBA (Euro Banking Association) and therefore receives all commercial payments in favour of OP Financial Group's customers through EBA. If you are not a clearing member in EBA you may use TARGET or one of the following correspondents: CURRENCY CODE SWIFT CORRESPONDENT BANK NAME COUNTRY EUR KREDBEBB KBC Bank N.V., Brussels Belgium EUR CITIGB2L Citibank N.a, London United Kingdom EUR DEUTDEFF Deutsche Bank Ag, Frankfurt am Main Germany OTHER CURRENCIES CURRENCY CODE SWIFT CORRESPONDENT BANK NAME COUNTRY AED ADCBAEAA Abu Dhabi Commercial Bank, Abu Dhabi UAE AUD NATAAU3303M National Australia Bank Ltd, Melbourne Australia BGN RZBBBGSF Raiffeisenbank (Bulgaria) EAD, Sofia Bulgaria CAD ROYCCAT2 Royal Bank of Canada, Toronto Canada CHF UBSWCHZH80A UBS Switzerland AG, Zürich Switzerland CNH BKCHHKHH Bank of China (Hong Kong) Limited, Hong Kong China CNH HSBCHKHHHKH Hong Kong and Shanghai Banking Corp. Ltd, Hong Kong China CNY BKCHCNBJS00 Bank of China, Shanghai China CNY HSBCCNSH HSBC Bank (China) Company Limited, Shanghai China CZK CEKOCZPP Ceskoslovenska Obchodni Banka A.S., Prague Czech Republic DKK JYBADKKK Jyske Bank A/S, Copenhagen Denmark DKK DABADKKK Danske Bank A/S, Copenhagen Denmark GBP RBOSGB2L The Royal Bank of Scotland Plc, London United Kingdom GBP LOYDGB2L Lloyds Bank Plc, London United Kingdom HKD HASEHKHH Hang -
Accelerating Open Banking
Accelerating open banking How the Nordics are driving new opportunities across industries. A white paper by Nordic API Gateway May 2020 Empowering frictionless financial futures for all The open banking platform Nordic API Gateway is the only API aggregator that offers full coverage of all business and personal bank accounts in the Nordics and soon the rest of Europe. With its in-depth market approach, Nordic API Gateway was founded to standardise the format of financial data and payments, enabling frictionless financial futures for all industries. Today, the technology behind Nordic API Gateway powers more than 50 companies including major banks, such as Danske Bank, Jyske Bank, OP Financial Group and DNB, as well as payment providers, accounting systems and SMBs, with access to real-time data and low-cost payment options. In early 2020, Nordic API Gateway commissioned a survey of more than 100 decision makers within the financial sector and payments industry, and accounting service providers across the Nordics – Denmark, Sweden, Norway and Finland – with the aim to assess the status of the Nordic region on its approach toward open banking. Interviews were monitored to ensure as balanced a spread as possible across country, sector, number of employees and turnover. An important message Because the survey was conducted before the Coronavirus found a foothold in Europe, this report does not take the extraordinary situation into consideration. Therefore, the data set does not account for any possible changes in priorities for the surveyed businesses and institutions that could have occured due to the COVID-19 crisis. Contents Foreword .................................................................................................................................4 1 Open banking at a glance .....................................................................................6 2 Why the Nordics are the perfect fit for open banking .................. -
TERMS and CONDITIONS of the OFFERING “Subscription” Means Below an Offer Or Commitment Provided by an Investor in the Offeri
TERMS AND CONDITIONS OF THE OFFERING “Subscription” means below an offer or commitment provided by an investor in the Offering, whether the investor has offered or committed to purchase Sale Shares or to subscribe New Shares. Correspondingly, “subscriber”, “subscription period”, “subscription place”, “subscription price”, “subscription offer” and “subscription commitment” (and other corresponding terms) refer to both Share Issue and Share Sale. General Terms and Conditions of the Offering The Offering The offering comprises the Share Issue and Share Sale (as defined below) (together, the “Offering”). Through the Share Issue, Kojamo plc (together with its subsidiaries on a consolidated basis, the “Company”, “Kojamo” or the “Kojamo Group”, except where it is clear from the context that the term means Kojamo plc or a particular subsidiary or business unit only) aims to raise gross proceeds of approximately EUR 150 million by offering new shares in the Company (the “New Shares”) for subscription (the “Share Issue”). The number of New Shares to be issued will be determined based on the final price per Offer Share (as defined below) (the “Final Offer Price”). The Company will issue 16,222,184 New Shares assuming that (i) the Final Offer Price will be at the mid-point of the Preliminary Price Range (as defined below), (ii) a total of 60,000 New Shares would be subscribed for in the Personnel Offering (as defined below) at the discount applicable to such New Shares and (iii) the Company will raise gross proceeds of no more than EUR 150 million.