Europe
Banking and finance news from the United Kingdom, European Union, and broader Europe
DBS and ING underwrote S$1.72 billion London office refurbishment loan
DBS and ING equally underwrote a S$1.72 billion development loan for One Spitalfields, financing a major London office refurbishment targeting top sustainability certifications for the asset.
HypoVereinsbank appointed Sam Kendall to lead German client solutions business
HypoVereinsbank appointed UniCredit dealmaker Sam Kendall to its management board from 1 October, adding leadership of German client solutions while he retains his group advisory and financing role.
Bank of England’s Taylor saw no compelling case for further rate increases
Bank of England policymaker Alan Taylor said further rate rises were not compelling without clearer second-round inflation effects, while Bank Rate remained at 3.75% after September’s 6–3 hold.
Bank of England warned financial risks were increasingly likely to crystallise
The Bank of England kept its countercyclical capital buffer at 2% while warning that connected risks from sovereign debt, AI financing and leveraged markets had become more likely to materialise.
European payment groups formed ENP to link 130 million users
Bancomat, Bizum, Wero, SIBS-MB WAY and Vipps MobilePay formed the European Network for Payments, planning interoperable account-to-account services across 13 countries for roughly 130 million users.
Santander raised interim dividend 10% alongside €3.7 billion remuneration plan
Santander approved a €0.127 interim dividend per share, 10% above last year, taking first-half shareholder remuneration to about €3.7 billion including its buyback for 2026 earnings.
Nubank and Monzo reportedly entered talks over £8–10 billion valuation
Nubank and Monzo reportedly entered preliminary acquisition talks at an £8 billion to £10 billion valuation, although neither company announced an agreement or approved transaction.
Deutsche Bank set fees for Germany’s planned retirement savings account
Deutsche Bank plans to launch Germany’s subsidised retirement savings account on 1 January 2027, with total annual costs of 0.10% for two years before rising to 0.28%.
BNP Paribas and EIB announced €700 million European grid guarantees
BNP Paribas and the EIB announced a €700 million guarantee portfolio that is expected to support up to €2.8 billion of European grid investment.
UK Consumer Borrowing Surged as Mortgage Approvals Hit Lowest Since December 2023
UK consumers borrowed a net £2.464 billion in August, the biggest monthly increase since records began in 1993, while new mortgage approvals fell to 54,918.
ECB to work on more responsive euro swap lines to strengthen currency
ECB President Christine Lagarde said the institution would develop more responsive euro swap lines, but disclosed no new counterparties, limits or launch date for the proposed liquidity arrangements.
FINMA imposed CHF250 million capital add-on after Julius Baer breaches
FINMA ordered Julius Baer to hold an additional CHF250 million of capital after finding serious risk-management and anti-money-laundering breaches spanning private-debt lending and high-risk client relationships.