Citibank has reorganised its operations in the Asia Pacific area, giving top executives in the region much greater responsibility for more of the different products offered.
The move is just one of many creative attempts by the Chief Executive to stir up business activity as well as managing costs since he took over late last year. Such actions have been necessary to help realign Citibank after it suffered badly in the aftermath of the American sub prime lending collapse.
The Asia Pacific region is to be split down into four sub-categories – North Asia, South Asia, Japan and Southeast Asia Pacific – each of which will have a head responsible for all of the different product categories offered by Citibank.
In order to try and balance their accounts Barclays are looking to raise in the region of GBP4 billion from external investors. This is to avoid using a rights issue which could seriously affect their share price.
Barclays Bank currently has one of the lowest capital reserves figures in the industry and will certainly face stiff criticism if this is not being seen to be addressed. Criticism tends to equal falling share prices and the bank do not want to see their position further weakened by such activity.
The bank has many facets to its business, with Barclays Insurance, stockbrokers and high street banking just a number of the best known. There is no question that they are operating well but in the current economic climate and with other financial institutions having suffered already it is important that Barclays can source this additional funding.
Lloyds TSB has this week increased the rates of interest offered on its Plus current account to 6 percent, an enormous 2 percent more than it was previously.
The new higher interest rate is being offered on this particular Lloyds TSB current account for new customers opening their account before July 13. The only proviso is that at least GBP1,000 per month must be paid into the account, something that is quite common anyway.
Increasing their interest rate is quite a move for Lloyds TSB, though they appreciate that customers in the UK tend to be quite fixed when it comes to their current accounts, tending to stay with the same bank for many years. Lloyds therefore feel they have to really make an impact with their message in order to get people to consider moving and an impact it certainly is.