Revolut has emerged as Europe’s most valuable startup, reaching a private valuation of $115 billion and increasingly challenging established banking giants. Founded just over a decade ago as a fintech focused on cheaper foreign exchange, the London-based company has expanded rapidly, with 80 million customers globally and new banking licences helping drive its
Italy’s largest lender, Intesa Sanpaolo, has launched an unsolicited €30.6 billion ($35 billion) cash-and-share offer to acquire rival bank Monte dei Paschi di Siena (MPS), marking a new phase of consolidation in the country’s banking sector. The proposed deal offers MPS shareholders a 12.5% premium over the bank’s closing share price on Friday. To address […]
Commerzbank announced plans to cut 3,000 jobs and raise its long-term profit targets as it fights to remain independent amid a takeover attempt by Italy’s UniCredit. The German bank said the restructuring would strengthen revenue and profitability by 2028, while criticizing UniCredit’s €37 billion takeover proposal as unclear and risky. Commerzbank also expects around €450
The European Central Bank has proposed major reforms to simplify the EU’s banking rulebook, aiming to streamline supervisory requirements without reducing overall capital burdens. The ECB argues that reducing complexity should not weaken financial resilience, despite industry pressure for lighter regulations as seen in the U.S. and UK. The plan centres on merging several



