Gold Reaches New Highs, Nearly Touching 2,400 USD per Ounce
In the early hours of Friday trading, the price of gold surged to an unprecedented peak, nearing the 2,400 USD per ounce mark
World | April 12, 2024, Friday // 12:08
The Banks which Are Affected by Brexit Are Heading to Frankfurt
- Tweet
Send to Kindle
www.pixabay.com
Banks which are seeking for a new European financial centre after Brexit have so far turned their preferences to Frankfurt, according to a study by German bank Helaba.
By the end of August, 31 banks had chosen to establish or expand their operations in the western German city to secure their presence in the EU after London leave the bloc.
Paris has been chosen by 11 banks, Dublin by 9, Luxembourg by 8, and Amsterdam by 5, Helaba notes.
Brexit is forcing banks to reorient their operations, at least partially, so that they can continue to operate in the EU after the UK leaves the union. In order to be able to offer services such as deposits and loans, banks will need to have a legally independent structure in an EU member state, BTA informs.
According to Helaba, the number of bank employees in Frankfurt will increase slightly by the end of 2021 despite redundancies at Deutsche bank and Commerzbank. The increase will be due to increased banking in the city after Brexit.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Related Articles:
Bulgaria's Housing Market Surges as Banks Inject Billions in Credit
Bulgarian banks have injected approximately 3.7 billion in additional credit resources into the housing market over the past year alone, with a staggering total of over 8 billion in the last three year
Bulgarians Among Hardest Hit: Dramatic Rise in UK Entry Denials After Brexit
In the aftermath of Brexit, Bulgaria, alongside other EU nations, has witnessed a significant surge in entry denials by the UK Border Force
Only 18% of those who Voted for Brexit think it was a Success
Only 18% of those who voted to leave in 2016 believe that Brexit was a success, according to a study by the think tank "The United Kingdom in a Changing Europe"
World | June 23, 2023, Friday // 11:50
Only 9% of UK Citizens consider Brexit a Success rather than a Failure
Nearly 62 percent of respondents describe it rather as a failure, according to a sociological survey by "YouGov"
World | May 23, 2023, Tuesday // 09:20
US Banks want Guaranteed Deposits and more than 250,000 Dollars to avoid a Contagion of Bankruptcies
A group of mid-sized US banks has called on US federal regulators to guarantee all their customers' deposits for 2 years, even if they are above the guaranteed deposit limit of up to $250,000
World | March 19, 2023, Sunday // 08:07
Sofia Exceeds Average Income Levels in Europe
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Bulgaria's Eurozone Entry Postponed: Central Bank Governor and Ex-Economy Minister Sound Alarm
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
Bulgarian Household Incomes Offset by Inflation in 2023
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
Report Shows Bulgarians Have Doubled Their Wealth in a Decade
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
Ex-Economy Minister: Bulgaria Unlikely to Enter Eurozone in Early 2025
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
Bulgarian National Bank Chief Targets 2025 Eurozone Access
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
