In a significant move, the Karnataka government has directed all its departments, corporations, boards, universities, and public sector units to withdraw their investments and deposits from Punjab National Bank (PNB)...
Category: Finance
Banks Post Record Sh140bn Half-Year Profit Amid High Rates
In a remarkable financial performance, banks in Kenya have posted a record Sh140 billion profit for the first half of the year, despite the challenging economic environment marked by high...
Banks Race to Issue Bonds to Raise Capital
In a bid to bolster their financial standing, many banks in Vietnam have embarked on a race to issue bonds, raising substantial capital in the process. This surge in bond...
Equity Insurance Business Sparks Talent War
The insurance industry is witnessing a fierce talent war as companies vie for top professionals to drive growth and innovation. Equity Bank’s recent move to revive its investment banking arm...
Indore: Four Banks Offer Loan to Buy IDA Flats in Scheme No. 103
In a bid to facilitate home ownership, four prominent banks have set up stalls to offer loans for purchasing flats at the Indore Development Authority’s (IDA) Palash Complex in Scheme...
BDAN: Windfall Tax Huge Burden on Banks with Ongoing Recapitalisation
The Bank Directors Association of Nigeria (BDAN) has raised concerns over the recently imposed 70% windfall tax on profits generated from foreign exchange transactions by banks. The tax, which will...
Changes to Banking Laws Have a Consumer Tilt
In a significant move aimed at better protecting depositors and investors, Union Finance Minister Nirmala Sitharaman introduced the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha. The bill seeks...
Asia’s Domestic Banks Build Market Share
In recent years, domestic banks in Asia have been steadily increasing their market share, challenging the dominance of international banks in the region. This shift is driven by a combination...
Why India’s Digital Banking Push is Giving RBI Nightmares
India’s ambitious push towards digital banking has brought about significant advancements in financial inclusion and convenience. However, this rapid digital transformation is also causing sleepless nights for the Reserve Bank...
Finovate Global Philippines: Mynt’s Millions and Opening the Door for More Digital Banks
In a significant development for the fintech landscape in the Philippines, Mynt, the company behind the popular GCash app, has secured substantial investments from Mitsubishi UFJ Financial Group (MUFG) and...