Page 41 - Banking Sector

JPMorgan admits it misjudged by backing breakaway European Super League

The bank also had its corporate sustainability rating downgraded by Standard Ethics

Climate activists shatter 19 windows at HSBC HQ in London's Canary Wharf

The activists referenced the struggle of the Suffragettes who used direct action to fight for votes for women in the early 20th Century.

After Citigroup, South Africa's FirstRand Bank to exit India after 12 years

First Rand India is a licensed financial services provider in India and operates as a "branch" of FirstRand Bank South Africa.

Private lender DCB purchases 9% stake in NBFC Techfino Capital

DCB Bank said it has acquired 9 per cent stake in non-banking financial company Techfino Capital which is engaged in providing technology-based education and healthcare loans.

Loan moratorium: Centre asks banks to foot 'interest on interest' bill

Banks have been told that they can also adjust the amount against future liabilities for all accounts

'Father of banking reforms': Ex-RBI governor M Narasimham passes away at 94

Narasimham also founded the credit planning cell in RBI, which became the monetary policy department

DBS to buy 13% stake in privately-held Chinese lender for $814 million

DBS is Southeast Asia's largest bank

A brief look at REPCO, the latest universal bank licence candidate

Repco Bank would approach the private sector for investments. However, it is yet to start such exercise.

A hale and hearty banking sector but...

More than banks, most of which have the balance sheet strength to stomach bad loans, it is the borrowers who will suffer once they are branded as defaulters since no lender will give them fresh money

Bank FDs in spotlight as returns of liquid funds hit two-decade low

1-year returns down to less than 3.5%, below short-term rates offered by banks on FDs

Morgan Stanley profit blows past estimates, flags $900-mn loss on Archegos

Net revenue jumped 61% to $15.72 billion.

Citigroup announces retail business exit from India, 12 other countries

Says it lacks the scale to compete in retail space, will focus on wealth management business

SBI refunds charges deducted from basic savings bank deposit accounts

In a statement, SBI said it had stopped recovering charges in BSBD accounts on all digital transactions with effect from September 15

Covid-19: Bank unions request finance ministry for steps to protect bankers

Bank unions have asked the finance ministry to initiate measures such as reducing banking days and allowing branches to work with minimum staff to protect employees from coronavirus infection.

Citigroup to exit retail banking operations in India, 12 other countries

CEO Jane Fraser says Citi lacked the scale to properly compete in the 13 markets it is leaving

Q4 results preview: Quick economic recovery to aid banks' profits

On the profitability front, the brokerage pegs operating profit growth at 15 per cent YoY with 12 per cent YoY for private and 19 per cent for PSBs

Remain watchful of evolving situation, push credit flows: RBI Guv to banks

RBI Governor Das asked banks to remain watchful of the evolving situation

State Bank of India's latest target: Rs 4-trn SME loan book by March 2024

It has become easier to do business, especially in the SME banking space, with rising pace of formalisation

One-fourth of bank loans in FY21 given in last fortnight of year: RBI data

Bank credit up 5.6% in FY21; Deposits surge 11.4%

Second Covid-19 wave heightens risks for Indian banks, says Fitch

Agency already sees moderately deteriorating environment for sector in 2021. Headwinds will intensify if rising infections and follow-up measures to contain the virus further affect business