Thursday, 24 February 2022

Reuters Global Investor: Euro zone banks plunge, erasing 2022 gains as Russia invades Ukraine

Euro zone banks plunge, erasing 2022 gains as Russia invades Ukraine

Shares in euro zone banks plunged on Thursday after Russian forces launched a full-scale invasion of Ukraine and European Union officials said they would impose new sanctions on Russia.

Societe Generale says Russian unit Rosbank operates in "normal manner"

Societe Generale said on Thursday that its Russian unit Rosbank continued to operate normally and that the French banking group was complying with "all applicable regulations".

Kremlin says Russia has enough tools to survive 'emotional' market reaction

Kremlin spokesperson Dmitry Peskov on Thursday said Russia has created enough safety tools to survive market volatility and said that the "emotional" financial market reaction to Russia's invasion of Ukraine would even out.

UniCredit says Russian unit's "very liquid and self-funded"

UniCredit's Russian unit has a "very liquid and self-funded" balance sheet and its impaired loan coverage is very high, Italy's second-biggest bank said on Thursday as the Ukraine crisis hit its shares.

JPMorgan says may review Ukraine's inclusion into key local bond index

JPMorgan has said it may have to review plans to start including Ukraine government bonds in it influential GBI-Emerging Markets index at the end of the next month amid the country's rapidly escalating crisis.

Austria's RBI says Russian, Ukraine banks well-capitalised

Austria's Raiffeisen Bank International said its banks in Russia and Ukraine are well-capitalised and self-financing, and that provisions were already made last year as part of its risk policy.

EU unlikely to cut Russia off SWIFT for now, sources say

The European Union is unlikely at this stage to take steps to cut Russia off from the SWIFT global interbank payments system as it works on a new package of sanctions against Moscow for its action against Ukraine, several EU sources said.

Russian c.bank increases daily dollar offer via forex swap to $5 bln

The Russian central bank increased daily dollars offered via foreign exchange swap operations with banks to $5 billion from $3 billion, it said on Thursday, as Moscow ordered forces to invade Ukraine.

Britain's Lloyds profit recovery marred by fraud costs

Britain's largest high street bank Lloyds posted a jump in annual profits on Thursday but was dented by further costs for past misdeeds, as the lender laid out a fresh strategy under new CEO Charlie Nunn.

France's Axa doubles 2021 profit, raises financial goals

Axa reported a profit on Thursday that more than doubled from last year, with the French insurer recovering from pandemic-related claims during the peak of the COVID-19 crisis.

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