All articles tagged with #retail banking
Santander plans to acquire Webster Financial in a $12.2 billion deal funded with stock and cash, creating a top-10 US retail and commercial bank with about $327 billion in assets and about $800 million in annual cost synergies; the transaction is expected to close in the second half of 2026, signaling Santander's intensified push into the US market, which helped lift its 2025 net profit to a record €14.1 billion.
Deutsche Bank announced plans to cut 3,500 jobs, primarily back office roles, representing just under 4% of its global workforce, while also revealing a 30% drop in fourth-quarter profit that still beat analyst expectations. The bank will buy back shares and pay dividends totaling 1.6 billion euros, with its retail unit overtaking the investment bank as the main revenue driver. Despite challenges such as a troubled integration of its Postbank arm, Deutsche Bank reported a 14th consecutive quarter and fourth consecutive year of profits, and raised its forecast for revenue growth, although it anticipates a more difficult 2024 for banks due to potential interest rate cuts.
Thousands of HSBC customers in the UK experienced an outage in online and mobile banking services, preventing them from authorizing online card purchases on Black Friday. The issue, which is attributed to an internal system problem, caused inconvenience for customers and could potentially hinder essential payments. As of the latest update, the problem has not been resolved.
Goldman Sachs reported a 36% drop in profits after scaling back its retail banking operations, reflecting the impact of the bank's strategic shift away from consumer lending.