(Updates with detail, comments)
Net new money totaled 1.2 billion Swiss francs (
The outflows are expected to be in reaction to a German tax probe sparked byclient data from a LGT employee.
LGT said its security standards are above-average for the banking industry,despite the data misappropriation.
Earlier Tuesday, LGT said net profit in the period ending
-By Katharina Bart, Dow Jones Newswires, +41 43 443 8040; katharina.bart@dowjones.com
(END) Dow Jones Newswires
The bank asks a federal court to toss claims from five certified classes, arguing victims have been paid and that fraudsters are included in the suit.
BNY's Carolyn Weinberg believes blockchain technology could be the key to an always-on operating system for the New York-based custody bank.
The Richmond, Virginia-based bank expects to build 10 branches in Raleigh and Wilmington, North Carolina, over the next three years. M&A is on the back burner as the company also works to capitalize on its recent acquisition of Sandy Spring Bank in Maryland, CEO John Asbury said.
The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.
The agents could overcome the consumer inertia that keeps people in low-yield bank accounts, the consultants say.
The credit card issuer added two programs with home goods retailers Raymour and Flanigan and Bed Bath and Beyond during the quarter while also increasing its stock buyback allocation and dividend payouts.
