Europe
Banking and finance news from the United Kingdom, European Union, and broader Europe
US OCC rejects Dutch fintech Bunq's application for national bank charter
The US Office of the Comptroller of the Currency has denied Bunq's application for a national bank charter, citing significant supervisory and compliance concerns.
Germany's Commerzbank delivers record €1.8 billion H1 net profit, up 40%
Commerzbank reported a record €1.81 billion first-half net result, up 40% year-on-year, with Q2 net profit of €898 million and outlook confirmed.
Czech National Bank holds two-week repo rate at 3.75% in August after June hike
The Czech National Bank kept its two-week repo rate at 3.75%, pausing after delivering its first rate rise since 2022 at its previous meeting.
Belgium's KBC Group books €1.15 billion Q2 profit and raises full-year 2026 guidance
KBC Group posted second-quarter net profit of €1,152 million and raised its 2026 guidance for net interest income and total income.
UK's HSBC launches three-part dollar senior bond sale to fund up to $5 billion buyback of 2028 notes
HSBC launched a three-part dollar senior debt issuance to fund tender offers for up to $5 billion of its bonds maturing in 2028.
Germany's Moss reaches EUR 1 billion unicorn valuation with EUR 35 million Series C led by Portage
Berlin fintech Moss has raised a EUR 35 million Series C led by Portage at a EUR 1 billion valuation, becoming a unicorn as it invests in Finance AI for the back office.
UK's HSBC Holdings reports 1H26 profit before tax up 23% to $19.5 billion
HSBC's first-half pre-tax profit rose $3.7 billion, or 23%, to $19.5 billion, with reported revenue up 11% to $37.7 billion.
Germany's BaFin orders NordLB to remediate AML customer-data backlog
BaFin has published a legally binding order requiring NordLB to submit and implement a customer-data-updating concept after finding significant AML due-diligence deficiencies.
Q2 2026 bank earnings: capital is becoming a growth licence again
UniCredit built a 47.59% position in Commerzbank, Santander absorbed a 55bp CET1 hit from TSB and BBVA grew loans 17.7% at constant exchange rates, while buybacks continued: surplus capital is being spent on growth as well as returned.
Rewriting the Leverage Constraint: The Bank of England's Capital Framework Reset and the Global Race to Make Buffers Usable
The Bank of England plans to cut the UK leverage minimum from 3.25% to 3%, add a releasable 25bp buffer and scrap the countercyclical leverage buffer, as the US, the euro area, the EU and Canada also rework leverage and buffer rules.
ING Groep shareholders approve Andrea Cesaroni as chief risk officer at extraordinary general meeting
ING Groep shareholders approved Andrea Cesaroni's appointment to the Executive Board as Chief Risk Officer, effective at the close of the 31 July EGM.
ECB Banking Supervision publishes results of 2026 thematic reverse stress test on geopolitical risks
The ECB's supervisory arm published the results of its 2026 thematic reverse stress test on geopolitical risks, targeting a 300 basis point CET1 depletion.