Trust in the UK banking industry has been destroyed by its complacency, inefficiency and a failure to focus on customer need. Antonio Horta-Osorio, CEO at Lloyds – one of the biggest retail banks in the UK, called for a radical change within the industry. The change must be implemented mainly in the sales culture, according to him. He highlighted that there was an essential must to break the culture of the past in order to restore the customers’ trust.
The Unicredit Bank has verified reports that it is working together with the U.S. inquiry to look into a probable violation of sanctions. The bank is believed to have broken Iran sanctions, although the bank has not confirmed this claim made by Reuters as well as the Financial Times.The investigation is focused mainly on HypoVereinsbank, a subsidiary based in Germany, which was bought by the central Italian bank way back in the year 2005.