The UK bank is set to slash a number of branches in response to the rise in digital banking.

Italian and French banks carry the greatest risks to their financial prospects among foreign lenders operating in Russia, according to the latest statistics from BIS. 

Large volumes of debt from Russian borrowers are at risk of being pushed into junk status. 

The biggest UK banks reported a significant rise in profits in 2021, as the country’s economy rebounded from the pandemic with a boom in deal-making and mortgage lending. 

The global supply of socially responsible debt severely contracted at the start of the year. 

Last year saw a significant increase in equity raising across Europe’s equity market in a bid to fuel the continent’s economic recovery from the coronavirus pandemic.

After reaching a record $9tn of supply in 2021, bond issuance is set to fall this year.

Despite attracting the greatest amount of investment dollars in Asia-Pacific over the past five years, foreign direct investment into China’s financial services industry severely contracted in the first 10 months of 2021.

The largest Canadian banks all recorded hefty increases in profits in 2021, buoyed by a mortgage boom and solid macroeconomic environment.

Last year was a record-breaker for investment banking fees, driven by strong performances across M&A, DCM, ECM and syndicated loans.