In a significant development for UK banking customers, major banks like Lloyds and NatWest are under scrutiny for potentially owing thousands of pounds to their current and former account holders....
Category: Finance
Two Men Charged with Fraud in St. Michael’s Hospital Case Had Several Business Ties, Trial Hears
In a trial that has gripped the attention of many, two men accused of defrauding St. Michael’s Hospital are facing charges related to their deep business connections, which may have...
Breaking Banks’ Information Monopoly: The Case for Deposit Data Sharing
Banks have long held a significant informational advantage over their customers, particularly when it comes to small businesses. This dominance has led to what can be described as an “information...
High Interest Rates Could Pressure Banks’ Asset Quality, Warn Analysts
Analysts are sounding the alarm on the potential risks posed to the asset quality of banks in Nigeria as the country continues to experience an aggressive interest rate environment. The...
Rural Banking Solutions: Bringing Financial Services to Underserved Areas
As the world experiences rapid advancements in financial technology, rural communities are still struggling to access essential banking services. Geographical isolation, low financial literacy, and a lack of infrastructure keep...
China’s Central Bank Urges Faster Loans for Tech Firms to Boost Innovation
In a strategic move to bolster the technology sector, China’s central bank has issued a directive urging government ministries and major banks to accelerate loan processes for technology firms. This...
Banks Confident of Achieving Profit Targets with Robust Q3 Performance
Leading banks in Vietnam have reported strong financial performances in the third quarter of 2024, signaling confidence in meeting their annual profit targets. State-owned banks like Vietcombank, BIDV, and VietinBank,...
Pakistan Banks Revert 5% Monthly Charges on High-Value Accounts Following SBP Intervention
In a swift response to growing concerns, major Pakistani banks have begun reversing the arbitrary five percent monthly charges imposed on accounts with deposits exceeding Rs1 billion. This move comes...
Banking Laws Amendment Bill to Be Moved in Lok Sabha Today: Key Proposed Changes
Union Finance Minister Nirmala Sitharaman is set to introduce the Banking Laws (Amendment) Bill, 2024 in the Lok Sabha today. This pivotal legislation aims to revamp several foundational acts governing...
Co-operative Bank Leads Rate Cuts, Followed by Kiwibank and Others in New Zealand
In a swift response to Wednesday’s Reserve Bank Official Cash Rate review, the Co-operative Bank became the first major bank to reduce its floating rate by an unprecedented -70 basis...