Investigation into GFG Alliance's bank flusters steel market

March 06, 2021 / www.metalbulletin.com / Article Link

The turmoil surrounding a creditor of UK-based conglomerate GFG Alliance has raised concerns in the European steel market, Fastmarkets heard on Friday March 5.

On March 3, German financial watchdog Bundesanstalt f? 1/4 r Finanzdienstleistungsaufsicht (BaFin) imposed a moratorium on Greensill Bank, which is the key funding facility for GFG Alliance, Fastmarkets heard.
In particular, BaFin has ordered Greensill Bank AG to be closed for business with customers, and has prohibited it from accepting payments that are not intended to repay debt to Greensill Bank AG, according to a press release on the BaFin website.
BaFin's measures come into force immediately but are not yet final, it said.

"During a special forensic audit, BaFin found that Greensill Bank AG was unable to provide evidence of the...

Recent News

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok