Take a look back at the past week in Retail Banking news with our news roundup.
Barclays Shrinks, but Says Its Core Business Is Stronger
“At the heart of the new Barclays are its British consumer bank and its trans-Atlantic investment bank, which combined had an 11 percent return on tangible equity — a measure of profitability — in the second quarter, excluding one-time items. That compares to the 5.8 percent for the company as a whole at the end of the second quarter.”
‘Uberization’ of Malaysian banking proceeds apace
“The central bank has been pushing online banking as a way to boost efficiency and productivity in the financial sector, resulting in an average of 2 million new users coming aboard every year since 2010. For the quarter through March 2016, the central bank said online banking penetration grew 2.6%, while the mobile-specific figure increased 2.3%.”
Goldman Sachs names new retail arm Marcus
“Goldman’s new consumer lending arm, set to launch later this year, will be named “Marcus by Goldman Sachs” after the nearly 150-year-old company’s founder, Marcus Goldman, said a person close to the company.”
UK retail banking reforms to crimp profits – Fitch
“Proposals by UK competition authorities to make it easier for customers to switch banks could lead to a “slow but steady” erosion of lenders’ profits, Fitch Ratings has said.”
Lafferty Morning Briefing – 22nd August 2016
“Singaporeans could soon be able to transfer funds without requiring the recipient’s bank account number after the Monetary Authority of Singapore (MAS) announced plans to further develop electronic payments there.”
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