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IBOS members Banco Santander, KBC, Nordea and UniCredit joins first blockchain-based trade finance platform

IBOS members Banco Santander, KBC, Nordea and UniCredit have joined the first blockchain-based trade finance platform, we.trade, as founding partners. The we.trade consortium is, in conjunction with IBM, developing a platform based on distributed ledger technology (DLT) that aims to make domestic and cross-border commerce easier, safer and more efficient for companies. It is the first blockchain-based trade finance platform making a milestone in the practical adoption of DLT in the …Read More

IBOS member Santander named Global Bank of the Year by The Banker magazine

IBOS member Banco Santander has been named “Global Bank of the Year” by The Banker magazine. Banco Santander’s recognition is part of its fantastic profit growth in Latin America and its Brazilian operations in particular, its innovative use of technology to provide customers with products better suited to their needs” and the acquisition of Banco Popular, which reinforces its leading position in Spain. At its annual banking awards ceremony in London, …Read More

IBOS member Nordea invests in fintech company Betalo

IBOS member Nordea is investing in the fintech company Betalo. Nordea’s investment in Betalo follows the recent announcement of the establishment of Nordea Ventures, which was established to make investments in fintech companies in line with the bank’s ambition of building a truly digital bank. To support and accelerate innovation and strengthen Nordea’s offering to customers, Nordea Ventures will focus heavily on investments where the bank sees mutual strategic value. Erik …Read More

IBOS member bank Nordea establishes Nordea Ventures to invest in fintechs

IBOS member Nordea establishes Nordea Ventures to make strategic investments in fintech start-up companies. Nordea Ventures further supports the bank’s strategy of building a truly agile, digital bank. Nordea Ventures will focus on investments offering mutual strategic value, scalable business models and unique solutions. Investments are mainly, but not exclusively, expected to be in companies which have a Nordic focus. The number and size of investments will vary according to Nordea’s …Read More

IBOS member RBC announces record Q4 2017 and YTD 2017 results

IBOS member Royal Bank of Canada (RBC) today reported a record net income of $11,469 million for the year ended 31 October 2017, up $1,011 million (10%) from the prior year. Results were driven by strong earnings in: Personal& Commercial Banking, Wealth Management, Capital Markets and Investor & Treasury Services, partially offset by lower earnings in Insurance. Results also reflect strong credit quality. As of 31 October 2017, RBC’s Basel …Read More

IBOS member KBC Group reports strong Q3 2017 financial results

IBOS member KBC Group reports strong result of €691m in Q3 2017. KBC reported a strong performance in Q3 2017 with a net profit of €691m. In that quarter, KBC’s core activities also performed strongly, whilst the costs remained controlled and the write-downs on loans were very low. Additionally, the recently acquired Bulgarian companies contributed positively to the net profit. KBC’s solvency and liquidity also remained strong. If the third quarter …Read More

IBOS member US Bank announces new innovative digital payment solutions for corporate and commercial banking

IBOS member US Bank announces two new innovative digital payment solutions for corporate and commercial banking. US Bank today announced Disbursements via Zelle and Supplier Prefer Pay, two new digital payment solutions that make it easier for corporate and commercial banking clients to transition from paper to electronic payments. These solutions minimise the time and risk involved in the process of soliciting, storing and maintaining banking information for business and individual …Read More

IBOS member HSBC announces Q3 2017 earnings

IBOS member HSBC announces Q3 2017 earnings. Reporting before-tax profit of $14.9bn, up 41% from last year ($4.3bn) and achieving annual run-rate savings of $5.2bn since their investor update, IBOS member HSBC has remained committed to delivering positive adjusted Jaws for 2017. Stuart Gulliver, Group Chief Executive, commented:  “We maintained good momentum in the third quarter, with higher revenue in our three main global businesses. We also continued to make …Read More

IBOS member RBS reports Q3 2017 financial results

RBS reported a profit before tax of £871 million and an attributable profit of £392 million for Q3 2017, the third successive quarter of profit, and an attributable profit of £1,331 million for the year to date. Return on tangible equity was 4.5% for the quarter, and 5.2% for the year to date, with a core adjusted return on equity of 15.0% in Q3 2017. RBS delivered positive operating JAWS …Read More

IBOS member Santander announces Q3 2017 financial results

IBOS member Santander’s attributable profits have reached €5,077 million for Q3 2017, with underlying profit before tax of €10,175 million, up 19%.  Banco Santander earned an attributable profit of €5,077 million during the first nine months of 2017, an increase of 10% compared to the same period last year after €515 million of one-off items. This was driven by further improvements in the quality and recurrence of the Group’s revenues, combined …Read More