Retail Banking Competitor Tracker:September 2008

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.

Report Highlights

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Overview 1
Catalyst 1
Summary 1
Methodology 1
Table of Contents 2
Introduction 3
The Retail Banking Competitor Tracker provides both one-month and 12-month views of developments 3
Each month, Datamonitor tracks the most relevant announcements from 80 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 September 5
One of September's most notable trends was the wave of merger and acquisition activity 5
The potential merger between Lloyds TSB and HBOS would create a retail banking goliath 5
Santander looks to have secured A&L, and B&B's retail deposits and branch network 5
The Co-operative Bank is using online blogging to highlight its ethical values 6
September saw by far the most monthly activity in the market, largely driven by M&A deals 6
M&A, Partnerships and Organic Growth stories dominate the headlines for September 6
Western Europe saw the largest increase in the number of competitor developments 7
Almost half of all competitor developments were M&A-related 8
M&A, Partnerships and Organic Growth 10
ABN Amro 10
Netherlands: the squeeze-out of ABN AMRO minority shareholders has been completed 10
Banco BPI 10
Portugal: Banco BPI has announced the sale of 49.9% of BFA 10
Banco Santander 10
UK: Santander shareholders approve capital increase for the acquisition of A&L 10
Barclays 11
Indonesia: Barclays enters the agreement to acquire Indonesia's Akita 11
Bradford & Bingley 11
UK: Bradford & Bingley's direct channels and retail deposits will transfer to Abbey National 11
Citigroup 11
US: Citi and Wachovia have reached an agreement for Citi to acquire Wachovia's banking operations 11
DBS Group 12
Taiwan: DBS bank has an expanded 40-branch network in Taiwan 12
Deutsche Postbank 12
Germany: Deutsche Post sells 29.75% stake in Postbank to Deutsche Bank in growth-focused transaction 12
Fortis 13
Benelux: Governments of Belgium, Luxembourg and the Netherlands invest €11.2 billion in Fortis 13
Benelux: Fortis statement on DNB decision for EC Remedies sale 13
Handelsbanken 14
Denmark: Handelsbanken acquires Lokalbanken i Nordsjælland 14
HSBC Bank 14
Vietnam: HSBC has received official approval for local incorporation in Vietnam 14
ING 14
Netherlands: ING does not intend to make offer for ABN Amro Netherlands 14
Intesa Sanpaolo 14
Italy: Cassa di Risparmio del Veneto (Intesa Sanpaolo) is now the biggest regional bank in Italy 14
Kaupthing 15
Iceland: The Icelandic Competition Authority has approved the merger of Kaupthing and SPRON 15
Lloyds TSB 15
UK: Lloyds TSB/HBOS announcement on planned acquisition 15
Maybank 16
Malaysia: Maybank has completed its acquisition of Sorak Financial Holdings 16
Mitsubishi UFJ Financial Group 16
Japan: Mitsubishi UFJ and the Bank of Tokyo-Mitsubishi UFJ have completed a tender offer for UnionBanCal 16
Millennium BCP 16
Angola: Banco Comercial Português has finalized its agreement with Sonangol and Banco Privado Atlântico 16
Nationwide 17
UK: Mergers of Nationwide with the Derbyshire and Cheshire Building Societies 17
Nordea 17
Denmark: Nordea acquired part of Roskilde Bank 17
Royal Bank of Scotland 18
UAE: Royal Bank of Scotland rebrands new businesses in GCC financial services sector 18
SEB 18
Germany: SEB launches organizational change in its German operations 18
Société Générale 18
Lithuania: Société Générale Consumer Finance acquires General Financing in Lithuania 18
Standard Chartered 19
Vietnam: Standard Chartered has received approval in principle for local incorporation in Vietnam 19
Swedbank 19
Baltic countries: Swedbank is the new name of Hansabank 19
Westpac Banking Group (WBC) 19
Australia: St.George and Westpac have agreed a revised merger proposal 19
Product Innovation and Customer Targeting 21
ANZ Bank 21
Australia: ANZ has announced a new banking package for Chinese students in Australia 21
Australia: ANZ has announced a new customer-focused business model 21
Barclays 22
UK: Barclays to focus on SMEs in tight market 22
Commonwealth Bank of Australia (CBA) 22
Australia: Commonwealth Bank has enhanced its home loan offerings 22
First National Bank 22
South Africa: First National Bank is investing in an expanded ATM network 22
HBOS 23
UK: borrowers offered new Rate Guard 23
HSBC 23
UK: First Direct launches two- and 10-year fixed rate offset mortgages 23
Lloyds TSB 23
UK: Lloyds TSB introduces next generation of mobile phone banking 23
Nationwide 24
UK: Nationwide introduces new loyalty offer for existing borrowers 24
Northern Rock 24
UK: Northern Rock announces new product range 24
Royal Bank of Scotland 25
India: Sachin Tendulkar joins RBS as global ambassador 25
The Co-operative bank 25
UK: The Co-operative Financial Services launches 'goodwithmoney' social networking blog 25
UK: The Co-operative bank launches first pick 'n' mix packaged current accounts 25
Yorkshire Building Society 26
UK: half price fees and more rate cuts on mortgages from Yorkshire Building Society 26
APPENDIX 27
Methodology 27
Further reading 28
Ask the analyst 28
Datamonitor consulting 28
Disclaimer 29
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Table 1: The 80 companies and subsidiaries covered by Datamonitor's Retail Banking Competitor Tracker 3
Table 2: List of banks tracked , table 1 of 2 27
Table 3: List of banks tracked, (table 2 of 2) 28
Figure 1: The number of competitor developments increased in both categories, driving up the total 7
Figure 2: Western Europe saw a large increase in its share of competitor developments during September 8
Figure 3: M&A deals are currently the most popular competitor development
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