Royal Bank of Scotland’s high bad debt charges in Ireland and a drop in investment banking income overshadowed the bank’s return to profit in the final months of 2010. Stephen Hester, chief executive of the partly nationalised bank, said on …
France’s AXA Group, which ranks alongside Allianz as Europe’s two biggest insurers, said its business environment was getting better despite reporting a dip in nine-month sales on Thursday. Sales fell to €68.094 billion ($100.4 billion). Analysts in a Reuters poll …
French bank BNP Paribas agreed to scoop up assets in Belgium and Luxembourg of banking and insurance group Fortis for €14.5 billion ($19.66 billion) to become the Euro zone’s biggest deposit bank. The move followed a weekend of frantic talks …
The global credit crisis tore a hole in the profits of some of Europe’s top insurers on Thursday, with AXA and Aegon both posting lower earnings. Share reactions were mixed across Europe. The DJ Stoxx European Banking Index fell 0.6 …
