2024-06-04 | Industry Dynamics
Digital Bank Monzo Achieves First Profit Ahead of IPO
British digital bank Monzo has announced its first annual profit on Monday, a key achievement ahead of its planned IPO.
2024-06-04 | Industry Dynamics
British digital bank Monzo has announced its first annual profit on Monday, a key achievement ahead of its planned IPO.
2024-04-25 | Industry Dynamics
Today’s News India’s central bank has taken stringent action against Kotak Mahindra Bank, prohibiting the institution from issuing credit cards and onboarding new digital and mobile banking customers. This move signals a significant escalation in regulatory enforcement within India’s consumer finance sector. The Reserve Bank of India (RBI) cited “serious deficiencies” in IT risk management […]
2024-04-23 | Industry Dynamics
Today’s News Goldman Sachs has recently transferred its top investment banker for European financial companies from London to Paris as part of its ongoing post-Brexit reorganization efforts. Dirk Lievens, head of Goldman’s financial institutions group for Europe, the Middle East, and Africa, relocated to Paris last month to better serve the bank’s continental European […]
2024-04-05 | Industry Dynamics
Today’s News The Bank of Korea is considering a significant overhaul in how it communicates future interest rate trajectories, aiming to enhance transparency by extending the timeframe and introducing visual estimates, according to sources familiar with the matter. Governor Rhee Chang-yong, inspired by a proposal initially mentioned at the Federal Reserve’s Jackson Hole symposium in […]
2024-03-26 | Industry Dynamics
Today’s News SWIFT, the global bank messaging network, has disclosed its plans to introduce a new platform within the next one to two years. This platform aims to integrate the emerging wave of central bank digital currencies (CBDCs) with the existing financial system, marking a significant development in the evolving CBDC ecosystem. With approximately […]
2024-03-25 | Industry Dynamics
Today’s News Switzerland has initiated rate cuts among major central banks, with the European Central Bank expected to follow suit in June, while the Bank of England and the Federal Reserve are anticipated to act before summer’s end, despite inflation showing a downward trend but not yet subdued. The Swiss National Bank became the first […]
2024-03-22 | Industry Dynamics
Today’s News U.S. Treasury Secretary Janet Yellen, speaking on Thursday, expressed support for legislative measures aimed at resolving the conflict between federal and state laws concerning marijuana sales and usage, which presently hinder access to banking services for cannabis companies. During a hearing of the U.S. House of Representatives Appropriations subcommittee addressing the issue, which […]
2024-03-20 | Industry Dynamics
Today’s News China has decided to maintain its benchmark lending rates at their current levels, a move that was widely anticipated by the market. This decision comes following the recent stability in the central bank’s key policy rate, amidst some signs of improvement in the overall economy. The significance of this decision lies in China’s […]
2024-03-08 | Industry Dynamics
Today’s News The number of struggling banks in the United States has witnessed an 18% increase, caution regulators, as New York Community Bank (NYCB) successfully stabilized through a USD 1 billion capital raise led by former U.S. Treasury Secretary Steven Mnuchin. A year after the upheaval caused by the Silicon Valley Bank’s failure, NYCB’s recent […]
2023-10-27 | Education
Investors are turning to Q3 earnings of tech giants – Microsoft, Google, Meta, Amazon and delve into earnings reports from major banks -JPMorgan and Wells Fargo