The bank said earnings from corporate and investment banking fell 65 percent.

More than half the party's £12m donations in the last year came from the City and banking.

Mellon is trying to move from traditional banking, which has a declining share of the nation's financial activity.

Profit from corporate banking in emerging markets increased 27 percent, to $433 million.

It has a diverse offering of financial services, from regular banking to insurance.

Profits from corporate banking and trading fell by 9 percent, to $382 million.

Although many customers believe they are benefiting from free banking, research by Which?

But until then there is some money to be made from corporate banking related to emerging markets.

In 2001, he retired from banking and entered elective politics.

The strongest performance in this area came from retail banking, where earnings rose 54 percent.