About Bob

This author has not yet filled in any details.
So far Bob has created 25 blog entries.

Predictions for the Payments industry in 2018 – the global Remittances business

This is the fourth and final one of our four predictions for the Payments industry in 2018.

It is about the global Remittances business.

We all know that this area has been badly hit by “de-risking”, and that the result of that has been the withdrawal by the big clearers in currency centres of correspondent banking services […]

Predictions for the Payments industry in 2018 – new EU Treaty signed for full Economic & Monetary Union

This is the third of our predictions for the Payments industry in 2018, and it is about the Euro and its path to full completion.

Brexit is both a threat and an opportunity for the “centralisers” at the European Commission. Their arguments will be firstly that the Single Market and the Customs Union (“Economic” union) cannot […]

Predictions for the Payments industry in 2018 – New Entrants

This is the second of our predictions for the Payments industry in 2018, and it is about New Entrants to the payments business.

The main focus is on Third-Party Providers and Payment Institutions as ordained under Payment Services Directive. We should also mention eMoney Institutions and – more UK-centric – Challenger Banks.

In sum these are the […]

Predictions for the Payments industry in 2018 – Open Banking

This is the first of our predictions for the Payments industry in 2018, and it is about the UK’s Open Banking.

This is a very high-profile and government-endorsed project to open up Retail and SME banking to technology-based new entrants, who will offer innovative and exciting propositions on top of the data they can receive from […]

Strong rise in Non-Performing Loans at Unicredit

Unicredit held a “Capital Markets Day” in London today and we have added the full deck to download here.

The key slide is number 14, where it discusses Non-Performing Loans.

Less than a year ago Unicredit launched a rights issue to raise €13 bn so as to cover “one-off charges” taken in Q4 2016 of €12.2 bn, […]

Unicredit – out of the frying pan?

We have published a research paper – you can find it in “Research Papers and Training Agendas” on our website – about Unicredit’s “recapitalisation” and focussing on:

the rights issue for €13.0 billion launched in Q1 2017 to fund the bank’s Strategic Plan
the charges and provisions taken by the bank in Q4 2016, which […]

Unicredit’s FINO fails to get A-rating from DBRS and difficult questions remain about the structure

When the CEO of Unicredit Group Mr Mustier stated that FINO stood for “Failure Is Not An Option”, he was staking his reputation on the full completion of the deal.

But its chance of success hangs by a thread.

The deal, by the way, is aimed at spinning off the worst of Unicredit SpA’s Non-Performing Loans (“NPLs”) […]

PortoFino: delightful coastal resort and key to Unicredit recapitalisation

The “Porto” and “Fino” projects are critical to the “recapitalisation” plan for Unicredit S.p.A.. They are the main destination of the €13.0 billion of new share capital raised via a rights issue in February/March 2017.

This bolstering of “Share Capital” was pre-dated by a write-down of the Unicredit S.p.A’s Reserves from €10.3 billion in its 31/12/15 […]

Brexit Flashcards

Go to http://brexitflashcards.uk to access this all-in-one-place summary of the financial case for Brexit…

Brexit – £980 million a week on offer for the UK

This is my work over the last year on the financial case for Brexit: overwhelming and contained in the eight Brexit Papers.

The first four:

the UK’s exposure to Deutsche Bank as a test case of its exposure to a number of EU systemically important banks
how the Euro sits in the middle of everything the […]