Swiss National Bank Holds Rates at Zero to Shield Franc from Appreciation
The Swiss National Bank holds its key interest rate at zero percent while other central banks raise rates, seeking to prevent the Swiss franc from strengthening
Banking
Spanish Investment Services Firms Report Sharp Profit Decline in First Quarter
Spanish investment services firms experienced a two-speed sector performance in Q1 2026, with overall profitability declining significantly compared to the prior year period, with agencies particularly hard hit.
BBVA Launches Zero-Fee Credit Card in Germany to Deepen Retail Banking Footprint
Spanish bank BBVA is expanding its attack on the German retail banking market by launching a credit card offering cashback rewards and zero fees, intensifying competition in the highly competitive retail banking sector.
Citi Islamic Investment Bank Named North America’s Best Sukuk House After $31 Billion Issuance Year
Citi Islamic Investment Bank was recognized as North America’s best sukuk house in 2026 after arranging over $31 billion in sukuk issuance in 2025. Operating through a regional hub in the UAE with a specialist presence in Malaysia, the bank provided Islamic finance solutions across sovereign, financial institution, and corporate issuers, including landmark transactions for Saudi Aramco, Public Investment Fund, and DP World. The bank also expanded its role in sustainable Islamic finance.
Standard Chartered Saadiq Named Middle East’s Best Islamic Project Finance House by Euromoney
Standard Chartered Saadiq was recognized as the Middle East’s best Islamic project finance house in 2026 by Euromoney. The bank is highlighted for its role in expanding sustainable Islamic finance, particularly through its involvement in Tabreed’s $700 million green sukuk issuance in March 2025, which was the first green bond from a pure-play district cooling services provider. Standard Chartered acted as joint global coordinator and joint lead manager, combining sustainable finance standards with Islamic capital markets execution.
HSBC Partners with Google Cloud to Deploy AI Across Global Operations
HSBC Holdings Plc announced a strategic partnership with Google Cloud to implement artificial intelligence solutions across its global banking operations. The bank expects individual AI projects to generate more than $100 million in additional revenue or operational savings.
SIX Securities Services Head Rafael Moral Santiago Departs After One Year
SIX announced the immediate departure of Rafael Moral Santiago, who headed the Securities Services division and sat on the management committee. He had held the position for approximately one year. Marion Leslie will temporarily lead the Securities Services business unit while SIX conducts a search for a permanent replacement.
Postbank faces strike threat as wage talks with Verdi collapse
Wage negotiations between Postbank and union Verdi have failed. The union has threatened to hold a ballot on indefinite strikes and plans another round of negotiations before proceeding with strike action.
German Custodian Bank V-Bank Hit by Cyberattack, Customer Data Compromised
V-Bank, Germany’s largest custodian bank for independent wealth managers, became victim of a professional cyberattack resulting in theft of customer data. The bank confirmed no funds were compromised.
German Cooperative Banks Expand Powers of Support Fund to Combat Rising Member Rescues
Boards of Volksbank and cooperative banks have voted to grant their support fund (Sicherungseinrichtung) greater authority to detect and respond to problems at member banks more quickly, addressing a rise in recent bank rescues within the cooperative banking sector.