Latest news with #RetailBanking
Irish Times
17-07-2025
- Business
- Irish Times
AIB's slimmed-down UK unit to report to retail chief Geraldine Casey
AIB has decided that its UK unit will report in future to the group's retail banking managing director, Geraldine Casey, in Dublin, underscoring how the business has shrunk significantly in recent times. This will see move from four core operating divisions to three – retail banking, capital markets and climate capital. The development came as AIB also announced the promotion of its chief technology officer, Graham Fagan, to an expanded role of chief operating officer, as current COO Andrew McFarlane is leaving the group after three years. This will see the number of staff reporting to Mr Fagan effectively double to 2,300. AIB, which has more than 10,000 staff in total, also said that its general council Miriam Nagle, appointed in January, will join the group's executive team. READ MORE 'Today's updates to our management structure means AIB will focus on Retail Banking, Capital Markets and Climate Capital,' said chief executive Colin Hunt, adding that the simplification of management structure will help with operational efficiency and resilience. AIB UK, a stand-alone UK licensed bank led by managing director Hilary Gormley, has seen its gross loans shrink by almost 50 per cent to £5 billion (€5.78 billion) in the past decade, accelerated by review of its operations there in the wake of Brexit that saw it exit from the SME lending market in Britain and close a number of retail branches in Northern Ireland in 2021. [ Sharp increase in reports of phone call and text message fraud this year, AIB says Opens in new window ] While it continues to offer full retail banking services in the North, it has narrowed its lending focus in Britain to niche corporate areas such as renewable energy, manufacturing and warehousing. Some of the larger ticket UK lending deals are handled by AIB's capital markets and climate capital divisions. The shake-up increases the responsibilities of Ms Casey, who was already in charge of AIB largest division, by far. Rival Bank of Ireland's UK loan book has contract by 25 per cent over the past 10 years to £14.1 billion as it narrowed its focus amid heightened competition in that market. David McWilliams on how 'big incentives' to build could save Dublin city Listen | 36:51 This has been driven in recent years as the bank: reversed out of the mass mortgage market for higher-value bespoke home lending; stopped providing mortgages and personal loans through the UK post office; sold its British personal loans; and putting its corporate and commercial portfolio into winddown. Minister for Finance Paschal Donohoe sold the State's remaining 2 per cent stake in AIB for €305.3 million, bringing the total recovered to date from the bank to €19.8 billion. It means that AIB is set to fall about €700 million short of repaying its €20.8 billion taxpayer rescue bill, including the expected €300 million the Government is on track to receive from selling back stock warrants it continues to hold in the bank. The total AIB bailout recovery also includes proceeds other share sales, redemption of bailout bonds, interest, guarantee fees and dividends received from the bank over the years.
Zawya
15-07-2025
- Business
- Zawya
Oman Arab Bank launches travel loan campaign to empower holiday seekers
Muscat: Oman Arab Bank (OAB) has announced the launch of its highly anticipated Travel Loan Campaign, tailored to help customers embrace the joy of travel—whether within Oman during the picturesque Khareef season in Salalah or abroad for international adventures. The campaign reflects the Bank's ongoing commitment to delivering customer-centric financial solutions that enhance quality of life and offer greater lifestyle flexibility. The Travel Loan offers customers the opportunity to borrow between OMR 1,000 and OMR 5,000 with an attractive interest rate of 4.5%, and flexible repayment terms of up to 12 months. To further reward customers, the campaign includes a two-year annual fee waiver on OAB credit cards for eligible applicants. Special benefits await those heading to Salalah for Khareef, including 20% cashback on fuel spent at Oman Oil and Shell stations during selected weekends in July and August. In addition, customers can access exclusive offers on hotels, dining, cafés, and car rentals in the Dhofar region, making their trip even more enjoyable and cost-effective. International travelers are not left behind. The campaign also includes complimentary travel insurance, offering peace of mind for customers flying abroad, ensuring safety and convenience remain a priority. Mr. Juma Al Fulaiti, Deputy Head of Retail Banking at OAB, commented, 'At OAB, we believe travel is more than leisure—it's an opportunity to connect, explore, and grow. Through this Travel Loan campaign, we're proud to provide financial solutions that allow our customers to experience new destinations without the burden of financial constraints. Whether it's enjoying the lush beauty of Salalah or discovering the world beyond, we want our customers to indulge, while also creating a slew of unforgettable memories with their families and loved ones.' Customers can apply for the Travel Loan conveniently via the OAB Mobile App or by visiting their nearest branch. This initiative is part of OAB's broader strategy to offer flexible, relevant, and rewarding financial products that align with customers' evolving needs and aspirations.
Yahoo
09-07-2025
- Business
- Yahoo
PNC Launches New Digital Direct Deposit: A Move to Boost Fee Income?
PNC Financial Services Group PNC is making efforts to increase its direct deposit market share by automating the payroll deposit switch process for consumers. This will likely help the company to bolster its fee-based income. The bank unveiled a new feature, PNC Direct Deposit, designed to enable customers to automatically set up direct deposits for payroll, Social Security payments, or other regular income through the PNC Mobile app. PNC Direct Deposit is an integrated experience that provides clients with a seamless and streamlined option to update or change their direct deposit preferences with just a few clicks, eliminating the need to fill out forms or make phone calls. It combines the roles of the employer, payroll provider, and bank into a single digital interface. The solution has been developed in partnership with the account-switching fintech Atomic. The new digital solution eliminates the need for users to manually enter routing and account numbers, thereby minimizing the risk of user errors and payment delays. Alex Overstrom, head of Retail Banking, stated that, "This integrated direct deposit solution is just another example of how PNC is continuously enhancing and improving the client experience." Overstrom further added, "By embedding direct deposit functions directly within the mobile app, our clients can seamlessly update and manage their direct deposit preferences without the hassle of filling out paperwork and finding routing and account numbers." By allowing customers to easily set up and manage their deposits using the mobile app, PNC Direct Deposit serves as a strategic tool to deepen customer relationships and positions itself to capitalize on increased engagement with fee-generating products and services. As more customers centralize their finances with PNC, the bank stands to gain from increased adoption of services that carry associated fees, ultimately supporting its broader goal of expanding its non-interest income base. Over the past year, PNC shares have gained 20.4% year to date compared with the industry's growth of 34.1%. Image Source: Zacks Investment Research The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. In June 2025, U.S. Bancorp USB entered a partnership with Fiservto integrate its Elan Financial Services credit card program into Fiserv's Credit Choice solution. The collaboration aims to enhance digital card issuance capabilities, providing financial institutions with a seamless, integrated experience. The integration of Elan's credit card program into Fiserv's Credit Choice solution strengthens USB's digital-first strategy. This integration will enable consumers and small businesses to access both debit and credit card account details within a unified digital platform. Likewise, in May 2025, Deutsche Bank DB collaborated with International Business Machines IBM and finaXai, a Singapore-based AI company. DB reinforced its strategic partnership with IBM through a new license agreement, providing the former with greater access to International Business Machines' advanced software solutions. Further, the collaboration with finaXai is expected to expand Project DAMA 2 significantly — Deutsche Bank's public-permissioned multi-chain asset servicing pilot. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report International Business Machines Corporation (IBM) : Free Stock Analysis Report Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report U.S. Bancorp (USB) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
09-07-2025
- Business
- Globe and Mail
PNC Launches New Digital Direct Deposit: A Move to Boost Fee Income?
PNC Financial Services Group PNC is making efforts to increase its direct deposit market share by automating the payroll deposit switch process for consumers. This will likely help the company to bolster its fee-based income. The bank unveiled a new feature, PNC Direct Deposit, designed to enable customers to automatically set up direct deposits for payroll, Social Security payments, or other regular income through the PNC Mobile app. PNC Direct Deposit is an integrated experience that provides clients with a seamless and streamlined option to update or change their direct deposit preferences with just a few clicks, eliminating the need to fill out forms or make phone calls. It combines the roles of the employer, payroll provider, and bank into a single digital interface. The solution has been developed in partnership with the account-switching fintech Atomic. The new digital solution eliminates the need for users to manually enter routing and account numbers, thereby minimizing the risk of user errors and payment delays. PNC's Management Remarks on PNC Direct Deposit Alex Overstrom, head of Retail Banking, stated that, "This integrated direct deposit solution is just another example of how PNC is continuously enhancing and improving the client experience." Overstrom further added, "By embedding direct deposit functions directly within the mobile app, our clients can seamlessly update and manage their direct deposit preferences without the hassle of filling out paperwork and finding routing and account numbers." How Does PNC's Direct Deposit Boost Fee Income? By allowing customers to easily set up and manage their deposits using the mobile app, PNC Direct Deposit serves as a strategic tool to deepen customer relationships and positions itself to capitalize on increased engagement with fee-generating products and services. As more customers centralize their finances with PNC, the bank stands to gain from increased adoption of services that carry associated fees, ultimately supporting its broader goal of expanding its non-interest income base. PNC's Zacks Rank & Price Performance Over the past year, PNC shares have gained 20.4% year to date compared with the industry 's growth of 34.1%. The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Similar Steps by Other Finance Firms In June 2025, U.S. Bancorp USB entered a partnership with Fiservto integrate its Elan Financial Services credit card program into Fiserv's Credit Choice solution. The collaboration aims to enhance digital card issuance capabilities, providing financial institutions with a seamless, integrated experience. The integration of Elan's credit card program into Fiserv's Credit Choice solution strengthens USB's digital-first strategy. This integration will enable consumers and small businesses to access both debit and credit card account details within a unified digital platform. Likewise, in May 2025, Deutsche Bank DB collaborated with International Business Machines IBM and finaXai, a Singapore-based AI company. DB reinforced its strategic partnership with IBM through a new license agreement, providing the former with greater access to International Business Machines' advanced software solutions. Further, the collaboration with finaXai is expected to expand Project DAMA 2 significantly — Deutsche Bank's public-permissioned multi-chain asset servicing pilot. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Al Bawaba
15-06-2025
- Business
- Al Bawaba
NBB Launches Summer Credit Card Campaign with up to 4.4% Cashback on International Spend
The National Bank of Bahrain (NBB) has launched its latest Summer Credit Card Campaign, offering cardholders cashback on international transactions from 15 June to 15 September on the success of last year's initiative, this year's campaign offers the opportunity to earn up to 4.4% cashback when spending internationally. To participate, cardholders should activate this offer through the Points by NBB on the occasion, Subah Abdullatif Al Zayani, Chief Executive – Retail Banking at NBB said, 'We continue to give our credit cardholders more reasons to spend abroad. With guaranteed cashback on international purchases including e-commerce platforms, our Summer Campaign turns spending into real savings with rewarding value every time you use your card on any international transaction. It elevates how you can get more out of your summer holiday while enjoying exclusive benefits designed to put money back into your pocket.'What sets this initiative apart in the market is its guaranteed rewarding structure. The campaign ensures that all enrolled cardholders will receive their reward as a cashback amount. NBB remains committed to delivering rewarding experiences that offer cardholders greater value for their spending. Cardholders are invited to opt in through the Points by NBB app and transact with their credit cards internationally to benefit from the campaign. To learn more about the terms and conditions and how to apply for an NBB credit card, please visit visit a branch, or call 1721 4433. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
