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☆ UniCredit's pursuit of Commerzbank reflects a watershed moment for Europe — and its banking union
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Kirill Kudryavtsev | Afp | Getty ImagesEuropean banking's latest takeover battle is widely regarded as a potential turning point for the region — particularly the bloc's incomplete banking union. Whatever the outcome of UniCredit's swoop on Commerzbank, Marsh said the episode marks "another huge test" for German Chancellor Olaf Scholz. What is Europe's banking union? OMFIF's Marsh said Germany's opposition to UniCredit's move on Commerzbank means Berlin "now stands accused of favouring European banking integration only on its own terms." The logo of German bank Commerzbank seen on a branch office near The Commerzbank Tower in Frankfurt.

Persons: Kirill Kudryavtsev, Italy's UniCredit, David Marsh, Marsh, Olaf Scholz, Scholz, –, Germany's Scholz, OMFIF's Marsh, UniCredit's, Daniel Roland, Onur Genç, Mario Centeno, CNBC's, —, Centeno Organizations: European Central Bank, Afp, Getty, London, European Union, CNBC, BBVA, Banco Sabadell, Reuters, European Central Bank's Governing, EU Locations: Frankfurt, Germany, Germany's, Milan, Europe, Commerzbank, Italy, Berlin, Spanish, Brussels, Spain

☆ ECB's Centeno on banking consolidation in Europe
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB's Centeno on banking consolidation in EuropeECB's Governing Council member Mario Centeno says officials must work through politicians' comments and focus on their job to finish the banking union.

Persons: Mario Centeno Locations: Europe

☆ ECB's Centeno: We have been postponing the recovery in Europe
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB's Centeno: We have been postponing the recovery in EuropeECB Governing council member Mario Centeno joins Street Signs in an exclusive interview, commenting on recent data, and his outlook for the European economy.

Persons: Mario Centeno Organizations: Europe ECB Locations: Europe

☆ Morning Bid: Nvidia shares take bumpy ride after hours
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. Courtesy NVIDIA/Handout via REUTERS/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. The early focus was on Nvidia (NVDA.O), which in AI tech terms is the only company selling shovels during a gold rush. Volumes were so large and orders so backlogged that the price was - unusually - still moving erratically hours into the Asian day. A Reuters poll showed 10 of 19 economists looked for a rise, while market pricing is leaning against a move.

Persons: Wayne Cole, Changpeng Zhao, Zhao, didn't, Hunt, ECB's Centeno, Elderson, Mester, Macklem, Edmund Klamann Organizations: NVIDIA, Handout, REUTERS, Nvidia, Treasury, Fed Bank of Cleveland, Bank of Canada, Thomson Locations: Santa Clara , California, Wayne, China, Sweden's

☆ ECB's Centeno says rate cycle likely completed, inflation retreating
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

LISBON, Oct 4 (Reuters) - The cycle of interest rate hikes by the European Central Bank has likely come to an end as inflation across the euro zone is retreating faster then it rose, ECB Governing Council member Mario Centeno said on Wednesday. "We can expect that the rate cycle has been completed by now, and with present conditions," he told reporters in Lisbon. Centeno warned that even as the ECB's nominal interest rates could now remain stable due to declining inflation, real interest rates that directly impact companies, households and economies were still expected to increase, requiring "some caution with decisions in the near future". "The transmission of monetary policy is delayed in time, takes time to happen and does not impact all countries in the same way at the same time," Centeno added. Reporting by Sergio Goncalves, edititng by Andrei Khalip, Bernadette Baum and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Mario Centeno, Centeno, Sergio Goncalves, edititng, Andrei Khalip, Bernadette Baum, Sharon Singleton Organizations: European Central Bank, ECB, Thomson Locations: LISBON, Lisbon

☆ 'We can achieve more with less,' ECB's Centeno says on monetary policy
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We can achieve more with less,' ECB's Centeno says on monetary policyMario Centeno, governor of the Bank of Portugal, tells CNBC's Joumanna Bercetche that the ECB will be watching the data before deciding its next steps, but also says he has one key message: "We can achieve more with less."

☆ Profit margin growth 'unsustainable' -ECB's Centeno
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

DAVOS, Switzerland, Jan 18 (Reuters) - Evidence from Portugal suggests some companies in the euro zone have been able to increase profit margins at a rate that risks hampering efforts to bring inflation down, Portuguese central bank governor Mario Centeno said on Wednesday. "The numbers for Portugal are very clear: profit margins increased quite a bit in 2022," Centeno, who sits on the European Central Bank's rate-setting council, told Reuters on the sidelines of the World Economic Forum in Davos. "That is not sustainable, not only because that will have an impact on prices, but also on demand. However, Centeno said it was clear that company margin increases had as much potential as wage gains to force monetary policy to react if they were fueling inflationary pressures. "1% point of extra margins or 1% of wages will prevent inflation from coming down.

☆ Profit margin growth 'unsustainable,' ECB's Centeno says
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

☆ ECB's Centeno projects 'a few' more rate hikes in the next couple of meetings 'at least'
▼ + stars: | 2023-01-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

DAVOS, Switzerland — There will be "at least" a few more rate hikes in the next couple of meetings, an ECB member told CNBC Tuesday. December inflation came in at 9.2% in the euro zone, according to preliminary numbers. "We have and can expect a few more rate hikes in the next couple of meetings at least," Mario Centeno, Governor of the Bank of Portugal, said in Davos. The latest ECB projections suggest a growth rate of 0.5% for the euro zone in 2023, followed by 1.9% in 2024. Economists have become more positive on the euro zone outlook in recent weeks.

☆ ECB's Centeno: we are approaching the end of the interest rate rise process
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

LISBON, Jan 10 (Reuters) - European Central Bank's governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end. "We are approaching the end of the current process of interest rate hikes, I believe that is true," he said. Annual inflation in the euro zone slowed to 9.2% in December from 10.1% in November, data from Eurostat showed on Friday. The ECB forecast a gradual decline in inflation but only approaching its 2% target within three years. Reporting by Sergio Goncalves; Editing by Inti Landauro and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ ECB's Centeno says interest rate close to peaking if no new shocks
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: 1 min

LISBON, Jan 6 (Reuters) - The European Central Bank's key interest rate is nearing its peak amid efforts to bring down inflation, unless new external shocks emerge, ECB Governing Council member Mario Centeno said on Friday. He told a conference that interest rates will rise until the ECB considers that the inflation can be brought down to its medium-term target of 2% as quickly as possible. "We are on the way to achieving it...but we cannot hesitate in this process" of controlling inflation, he said. Reporting by Sergio Goncalves, writing by Andrei KhalipOur Standards: The Thomson Reuters Trust Principles.

LISBON, Nov 23 (Reuters) - Further consolidation of Portugal's banking sector is inevitable, European Central Bank member Mario Centeno told Reuters on Wednesday, calling "remarkable" the recent progress the country's banks have made on strengthening capital and reducing risk. Analysts have said that Portuguese banks should bet on M&A operations to achieve better competitive conditions, despite the five largest players' owning 80% to 85% of banking assets. Portugal's banks are still scarred from a debt crisis and a spike in NPLs after the 2010-13 recession. The NPL ratio for Portugal's lenders was 3.4% of total credit in June, versus 17.9% in mid-2016. "Although I am very satisfied with the evolution...there is no point in resting, we have to challenge ourselves," Centeno said.

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