Page 19 - Banks

ECB cuts interest rates as expected, says well on track to tame inflation

"The incoming information on inflation shows that the disinflationary process is well on track," the ECB said in a statement

Goldman Sachs profit beats estimates as bond sales boost investment banking

The Wall Street giant's gains echoed those at rival JPMorgan Chase and Citigroup, which also cashed in on debt and equity offerings as clients' economic confidence improved

China's new lending in September rises less than expected despite stimulus

Top Chinese leaders also pledged to deploy "necessary fiscal spending" to meet this year's growth target of around 5%

ECB set to deepen global easing with interest rate cut it didn't expect

US reports will offer a sense of how much momentum consumers, manufacturers and homebuilders had approaching the final quarter of the year

Big US banks say consumers are still strong, despite economy fears

Speaking to reporters, Wells Fargo chief financial officer Michael Santomassimo said spending on credit and debit cards, while down a little from earlier this year, was still "quite solid."

Group representing business correspondents seeks raise, writes to govt

Model is critical for financial inclusion but commissions have not been revised 'in a decade'

Top banks, consultancies lead the charge at IIM Lucknow's summer placements

IIM Lucknow's 2024-26 Post Graduate Programme batch secured 576 offers across diverse sectors

Wells Fargo's profit falls on lower interest income in September quarter

The fourth-largest U.S. lender reported net income of $5.11 billion for the three months ended Sept. 30, compared with $5.78 billion a year earlier, it said on Friday

Banks' group entities cannot be used to circumvent guidelines: RBI

The central bank has made the suggestion in a draft circular on 'forms of business and prudential regulations for investments' released on Friday

Banks record a higher deposit growth rate in Q2 FY25 than Q1 FY25

Four out of five banks have recorded growth at least 2-3 per cent higher than the pace seen in the quarter ended June 2024

India, EU regulators in negotiations as October deadline on oversight looms

The Reserve Bank of India denied European Securities and Markets Authority's request to co-supervise Indian transactions, citing concerns over "extra-territorial reach"

Visa unveils platform for global banks to issue stablecoin, other tokens

The product is designed to let banks use their tokens within smart contracts for programmability

Meta, Australian banks show progress on taking down 'celeb bait' scam ads

The scams use images of famous people, often generated by artificial intelligence, to trick consumers into giving money to non-existent investment schemes

ECB will do anything to remove hurdles to bank mergers: Supervisory chief

The ECB, as the euro zone's top supervisor, will have the final say on whether UniCredit, Italy's second-largest bank, can raise its stake in its German rival to just below 30%

Trai relaxes URL whitelisting mandate for SMS to minimise disruptions

Trai reassured banks that only the static parts of URLs in SMS need whitelisting to avoid disruption fears

Holidays in Oct: Banks to remain closed for 15 days; details here

Essential financial services will be available through ATMs, mobile banking apps, bank websites

SFBs should adopt responsible lending practices: RBI DG Swaminathan

The boards are also expected to ensure a proper succession planning for top management

Banks struggling to mobilise large deposits; C-D ratio rises to 80%: Report

Banks struggled to mobilise large deposits to meet the increasing credit demand in the last two financial years, a report said. Outstanding credit disbursed by Scheduled Commercial Banks (SCBs) was at the highest level in 2023-24 amounting to Rs 1,64,98,006 crore, whereas in percentage terms, the growth of Credit-to-Deposit(C-D) ratio rose from 75.8 per cent to 80.3 per cent, Infomerics Ratings said in a report. According to the RBI April 2024 Bulletin, during March 2024, the incremental Credit-Deposit Ratio(ICDR) remained around 95.94 per cent, whereas on March 8, 2024 this was at 92.95 per cent. It may be observed that there was a much higher growth of credit of the SCBs compared to the growth of deposits, even as per the Quarter-on-Quarter (QoQ) basis, it said. The growth of credit outpaced the growth of deposits during the period FY'19 to FY'24. Alternative investments and substantial cash holdings in the unorganized sector slowed deposit accumulation, particularly in rural ar

HDFC sells nearly $717 million of home loans to reduce credit book

In June, HDFC also sold a 50 billion rupee loan portfolio. Its credit-deposit ratio stood at 104% at the end of March, higher than the 85% to 88% rate in the previous three fiscal years

Bandhan Life partners with Bandhan bank to boost insurance business

In a bid to focus on new business after acquiring Aegon Life early this year and undergoing a renaming exercise, Bandhan Life Insurance on Thursday announced a strategic partnership with Bandhan Bank to distribute life insurance products through its extensive network of 1,700 branches. Bandhan Life stated it has plans to rope in more banks on board in the near future to strengthen its bancassurance distribution channel. "Initially, we are focusing on Bandhan Bank to distribute our insurance products as we shift our focus to new business. We aim to partner with 2-3 more banks and explore other multi-channel distribution strategies in due course," Bandhan Life MD & CEO Satishwar B said. He added that while Aegon Life's legacy business was primarily acquired online, Bandhan Life will focus on building offline distribution channels to drive growth. Initially, around 550 bank branches will distribute two new life insurance products tailored for Bandhan Bank customers, the company has ..