Bloomberg Banco Santander SA intends to close about 450 branches in Spain this year, more than one in 10, as the lender steers customers into digital banking to cut costs and bolster profitability. “Spain’s financial sector is facing a period of major change,” Country Head Rami Aboukhair told employees in an internal memo announcing the closures. “The current economic context, ...

Nicosia / AFP Bank of Cyprus, the bailed-out eurozone country’s largest lender, has announced plans to list its shares on the London Stock Exchange and to delist from the Athens market. The move reflects the bank’s ambitions of raising its “visibility and share liquidity” on a major European exchange, BoC said in a statement. The announcement came on the same ...

BLOOMBERG BNP Paribas SA and UniCredit SpA are closest to running into regulatory restraints on making payouts on securities, including their riskiest bonds, among the European banks followed by analysts at CreditSights Inc. If BNP were to run up losses that consumed capital amounting to 1.05 percent of assets weighted by risk, that would crimp the Paris-based lender’s ability to ...