Business
ABS partnership outlines best practices for anti-money laundering audits in banks
THE Association of Banks in Singapore (ABS) has launched Singapore’s first industry-led best practice paper to enhance anti-money…
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Banks
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DBS CEO says only half of banks are making enough AI and tech progress
THE head of Singapore’s biggest lender said only about half of the banking industry has made sufficient progress in transforming their…
Business
China’s mega banks trim deposit rates as stimulus hits profits
CHINA’S largest state-owned lenders have cut their deposit rates on Friday (Oct 18), their second reduction this year as they rushed to…
Business
Morgan Stanley widens gap as banks’ wealth units add US$5 trillion
MORGAN Stanley’s record quarter in wealth management capped a banner period for one of Wall Street’s most-profitable businesses. Client…
Business
Boeing enters US$10 billion credit agreement with banks amid crippling strike
BOEING said on Tuesday (Oct 15) it has entered a credit agreement worth US$10 billion with a consortium of banks, as the US planemaker…
Business
Big US banks say consumers are still strong, despite economy fears
3 min read Last Updated : Oct 11 2024 | 11:29 PM IST U.S. consumers remain resilient with solid spending in the third quarter, two of the…
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Banks tap Hong Kong’s discount window for most funds since 2019
HONG Kong banks borrowed the largest amount of short-term cash in almost five years from authorities, a move pointing to a sudden demand…
Business
HDFC Bank raises MCLR by 5 bps for select tenures, effective October 7
2 min read Last Updated : Oct 07 2024 | 3:47 PM IST HDFC Bank has raised its marginal cost of funds based lending rate (MCLR) by 5 basis…
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Banks whip out chequebooks for leveraged buyouts as rates fall
Investment banks, forced to take big writedowns on risky merger and acquisitions loans after a global surge in interest rates, are now…
Business
Global banks to trial Swift for digital currency transactions from 2025
3 min read Last Updated : Oct 04 2024 | 11:37 AM IST Swift, the global financial messaging provider, announced on Thursday that it will…
Business
Banks to seek govt guarantee on equity conversion before lending to Vi
Premium Illustration: Ajay Mohanty 4 min read Last Updated : Oct 02 2024 | 11:18 PM IST Some public sector banks are planning to seek…
Business
Trai's whitelisting norms: Majority of banks, insurers in compliance
3 min read Last Updated : Oct 01 2024 | 11:35 PM IST All national-level banks, insurers, and other financial players in both public and…
Business
China’s top banks to tweak mortgage rates to boost housing market
SIX of China’s biggest banks said they would tweak interest rates on existing mortgages following a request to lower them from Beijing’s…
Business
Hoping for banks to slash mortgage rates? Don’t hold your breath, analysts say
Fed’s Sep 18 rate cut has been widely anticipated and local banks have already priced it in for their loan packages MORTGAGE rates in…
Business
FD rates: Top 5 public sector banks offering highest interest returns
4 min read Last Updated : Sep 27 2024 | 5:32 PM IST Are you looking to maximise your savings through fixed deposits? Several public sector…
Business
Policy evolution: Despite challenges, central banks must keep adapting
Premium Illustration: Ajay Mohanty 3 min read Last Updated : Sep 26 2024 | 10:15 PM IST “I guess I should warn you. If I turn out to be…
Business
HDFC sells nearly $717 million of home loans to reduce credit book
3 min read Last Updated : Sep 26 2024 | 9:20 PM IST By Saikat Das and Preeti Singh Indian lender HDFC Bank Ltd. has sold a housing loan…
Business
China weighs injecting 1 trillion yuan of capital into top banks
CHINA is considering injecting up to 1 trillion yuan (S$183 billion) of capital into its biggest state banks to increase their capacity to…