Reuters: Banking and Financial News

UPDATE 2-Fannie Mae relaxing loan down payment requirements

Fri, 16 May 2008 15:11:52 +0100

NEW YORK, May 16 (Reuters) - Fannie Mae, the nation's largest source of home financing, said on Friday it is lowering the amount of down payments required on mortgages it purchases, even in areas where home prices are falling.

Credit Suisse CEO cautions on short-term markets

Fri, 16 May 2008 15:54:39 +0100

GENEVA, May 16 (Reuters) - The chief executive of Credit Suisse warned on Friday about short-term dangers ahead in financial markets, but said he was optimistic about his own bank's outlook in the ongoing crisis.

Citi reviews options for retail banking in Germany

Fri, 16 May 2008 15:33:15 +0100

FRANKFURT (Reuters) - Citigroup Inc is reviewing strategic options for its retail banking business in Germany but has not decided yet what to do with the operations, the largest U.S. bank said on Friday.

SMFG posts big rebound, forecasts modest growth

Fri, 16 May 2008 09:55:36 +0100

TOKYO (Reuters) - Sumitomo Mitsui Financial Group reported a threefold increase in fourth-quarter profit, rebounding from massive losses at its consumer finance unit a year earlier, and it forecast modest growth ahead.

Baloise Q1 volume up 6.7 pct, claims lower

Fri, 16 May 2008 13:01:57 +0100

ZURICH (Reuters) - Swiss insurer Baloise reported a 6.7 percent rise in business for the first quarter on Thursday and lower payouts from insurance claims.

UniCredit agrees branch sale for 747 mln euros

Fri, 16 May 2008 15:54:39 +0100

MILAN, May 16 (Reuters) - UniCredit SpA has sealed a 747 million euros ($1.16 billion) deal to sell 184 branches to a group of domestic banks to meet antitrust requirements over its purchase last year of Capitalia, the Italian bank said on Friday.

EFG sees more M&A opportunities in tough mkts

Fri, 16 May 2008 15:54:39 +0100

* happy about client inflows, weaker dollar a problem

Banco Popolare shares jump as Q1 suggests worst over

Fri, 16 May 2008 15:54:39 +0100

MILAN, May 16 (Reuters) - Shares in Italy's Banco Popolare climbed over 7 percent as first-quarter results persuaded the market the worst might be over after a year of massive losses at its Banca Italease investment. "Earnings turnaround ... with strong core revenue trend better than any Italian banks that reported so far," JP Morgan analysts said in a note.

Italy to raise taxes on banks - govt sources

Fri, 16 May 2008 15:54:39 +0100

ROME, May 16 (Reuters) - Italy's new government will raise taxes on banks to help finance increased spending on law and order and fulfil its promises to cut or eliminate some taxes, government sources said on Friday. Silvio Berlusconi's administration has promised that among its first measures it will scrap taxation of primary residences, reduce taxation of overtime wages and approve a package of measures to crack down on crime.

HBOS sells stake in Rightmove

Fri, 16 May 2008 13:37:23 +0100

LONDON (Reuters) - HBOS , Britain's biggest mortgage lender, said on Friday it has sold its remaining 13 percent stake in property Web site operator Rightmove for 59.2 million pounds.