Catch up with the last week in Retail Banking news with our news roundup.
Santander to buy Citi’s Argentina operations: report
“Santander will buy Citigroup’s (C.N) retail operations in Argentina, a local newspaper reported late on Monday, citing market sources. Earlier this year, the U.S. bank said it was exiting its retail banking and credit card operations in Brazil, Argentina and Colombia as it sought to slim down and cut costs.”
“Banks had been expanding their loan books aggressively in recent months to help offset a squeeze on margins caused by rock bottom interest rates. However, Federal Reserve figures released on Friday show commercial and industrial (C&I) loans across the industry were flat between July and September compared with the previous quarter”
“While the survey underscored the growing popularity of digital banking it also revealed the value still attached to human contact and a physical branch, with nearly half of respondents saying they did not trust a financial organisation that did not have branches.”< Lafferty Morning Briefing – 10th October 2016
“ A recent survey by UBS of almost 25,000 consumers and 61 bank management teams showed that 38 percent of banks have established relationships with fintech companies. Managers consider the major fintech threat to be in payments, especially in emerging markets — online mobile of course plays a major role”
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