Banking

A new report by Zopa and Juniper Research forecasts UK banks could save £1.8 billion by 2030 using generative AI. The savings, largely from back-office automation and personalized customer service, may come at the cost of 27,000 finance jobs. While AI automates routine tasks, the report stresses the need for workforce reskilling to manage AI systems. Digital-first banks are better positioned than legacy institutions, highlighting the need for traditional banks to adapt.

C&F Financial Corporation (CFFI) announced a $0.46 per share quarterly cash dividend, payable October 1, 2025, to shareholders of record on September 15, 2025. C&F operates 31 banking and 5 commercial loan offices in Virginia. Through subsidiaries, it offers wealth management, mortgage services, and vehicle financing across the Mid-Atlantic, Midwest, and Southern U.S.

Civista Bancshares (NASDAQ: CIVB) priced an offering of 3.29 million common shares at $21.25 each, aiming to raise ~$70 million. With an underwriters’ option, proceeds could reach $80.5 million. The capital, expected to close July 14, will fund organic growth and potential acquisitions in Midwest markets. Piper Sandler leads the transaction under Civista’s existing SEC shelf registration.

Washington Trust has been named Rhode Island’s Best-In-State Bank for 2025 by Forbes, marking its seventh consecutive year on the list and third straight year in the top spot. This recognition reflects the bank’s commitment to customer satisfaction, trust, and innovative services, solidifying its leadership in the Rhode Island banking sector.

Major Chinese banks ICBC, CCB, and CMB implemented their first 2025 deposit rate cuts, reducing short-term rates (e.g., 3-month to 0.65%, 1-year to 0.95%) and steepening the yield curve inversion with 5-year rates dropping to 1.30%. The coordinated cuts, shrinking 3-year and 5-year deposit returns by 25-32%, reflect deliberate financial repression to dismantle China’s savings culture. While aiming to spur consumption through eroded real returns, analysts question whether decades-old thrift habits can be overturned amid tightened alternative investment options.