Retail Banking Competitor Tracker - August 2009

Introduction

Datamonitor's Retail Banking Competitor Tracker is a monthly product providing updates on key events relating to major and innovative players in the retail banking sector. Covering events such as M&A activity, market entries and withdrawals, partnerships, product innovation and customer targeting on a global basis, the Retail Banking Competitor Tracker provides succinct summaries of key stories.

Scope

*Information on new product developments, mergers and acquisitions, distribution and partnerships.

*Insight on how the major retail banks are adapting to the ever changing economic climate.

Highlights

Banks in Australia and New Zealand are slashing their fees and charges.

Mergers in France and the UK have altered the mutual landscape in both countries.

RBS is progressing in its disposals program.

Reasons to Purchase

*Provides invaluable information on your closest competitors' strategies all in one place.

*Keeps track of how the competitive landscape is changing through M&A activities, partnerships and organic growth.

*Detailed insight into new product developments within the retail banking.

Report Highlights

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Overview 1
Catalyst 1
Summary 1
Methodology 1
Table of Contents 2
Introduction 3
This tracker provides both one-month and 12-month views of developments 3
Each month Datamonitor tracks the most relevant announcements from 100 competitors 3
Datamonitor's Retail Banking Team provides analysis of the key developments at both the one-month and 12-month level 4
A fully searchable database of the past 12 months of developments is also delivered alongside the report 4
Key trends and developments in August 5
Banks in Australia and New Zealand are slashing their fees and charges 5
Mergers in the UK and France shake up the mutual landscape 6
The RBS disposals program is gathering pace 6
Competitor activity increased in August from the levels seen in July 7
Product and service innovation stories continued to dominate the headlines in August 7
New products and M&A activity have driven the increase in news stories in August 8
Product, Services and Innovation 10
Abbey 10
UK: Abbey and Alliance & Leicester offer a savings deal with Santander's UK current accounts 10
UK: Abbey offers ""Money for Nothing"" prize draw on students account 10
Banco do Brasil 10
Brazil: Banco do Brasil plans to double credit to individuals 10
Bank of Ireland 11
Ireland: Bank of Ireland announces loan scheme for computing and engineering graduates 11
Bank of New Zealand 11
New Zealand: Bank of New Zealand waives off honor and dishonor fees on overdrawn accounts 11
BBVA 11
Spain: BBVA collaborates with UNALT to offer preferential financing to taxi drivers 11
Commonwealth Bank of Australia 12
Australia: Commonwealth Bank changes fee structures for personal and business transaction accounts 12
DBS Group 12
Singapore: DBS introduces xDDA service to simplify and expedite GIRO applications 12
HSBC 13
UK: HSBC offers two new mortgage deals 13
UK: first direct introduces offset tracker mortgage 13
NATIONAL AUSTRALIA BANK 13
Australia: NAB abolishes overdrawn fees on all personal transactions and savings accounts 13
Nationwide Building Society 14
UK: Nationwide announces price cut for select fixed and tracker rate mortgage deals 14
UK: Nationwide reduces personal loan rates 14
Punjab National Bank 14
India: PNB introduces festival season schemes for housing loans and car loans 14
State Bank of India 14
India: SBI introduces new home loan scheme 14
India: SBI offers two loan schemes 15
India: SBI introduces 'SBI My Home' campaign in Kerala 15
St.George Bank 16
Australia: St.George Bank reduces exception fees on retail and business accounts 16
Westpac Banking Group 16
Australia: Westpac reduces exception fees for credit cards, personal accounts and business accounts 16
M&A, Partnerships and Organic Growth 17
Agricultural Bank of China 17
China: China Life intends to buy stake in Agricultural Bank of China 17
Australia and New Zealand Banking Group Limited 17
Australia: ANZ announces the acquisition of selected RBS businesses in Asia 17
BBVA 18
US: BBVA Compass purchases the banking operations of Guaranty Bank 18
BNP Paribas 18
France: BNP Paribas acquires stake in Findomestic from Intesa Sanpaolo 18
Argentina: BNP Paribas divests its Argentina business to Banco Santander Río 19
Central Bank of India 19
India: Central Bank of India plans stake increase in housing finance business 19
Commerzbank 19
Switzerland: Commerzbank sells Dresdner Bank (Switzerland) to LGT 19
Groupe Banques Populaires 20
France: Banques Populaires and Caisses d'Epargne merge to form BPCE 20
HSBC 20
Indonesia: HSBC increases its share in Bank Ekonomi 20
ING Group 20
Netherlands: ING agrees to sell annuity and mortgage businesses in Chile 20
Millennium BCP 21
China: Millennium BCP partners with ICBC Macau 21
Punjab National Bank 21
India: PNB collaborates with Hindustan Machine Tool to provide loans to farmers 21
Santander 21
Poland: Santander and AIG agree to integrate their consumer finance businesses in Poland 21
The Co-operative Bank 22
UK: Britannia and Co-operative financial services (CFS) announce the completion of their merger 22
Royal Bank of Scotland 22
Pakistan: RBS signs share sale agreement with MCB Bank 22
Appendix 23
Methodology 23
Further reading 23
Ask the analyst 23
Datamonitor consulting 23
Disclaimer 23
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List of Tables
Table 1: The 100 companies and subsidiaries covered by Datamonitor's Retail Banking Competitor Tracker 3
List of Figures
Figure 1: The number of M&A stories grew more rapidly than product innovation 8
Figure 2: New products and M&A activity dominated August's stories 9
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