Banks (Finance)
Britain's five largest banks - HSBC, Barclays, Lloyds, Royal Bank of Scotland, and Santander UK - are bracing themselves for a significant hit to their balance sheets due to a surge in loan defaults, according to Fitch Ratings. The credit rating agency has warned that the banks could
Banks (Finance)
The COVID-19 pandemic has cast a long shadow over the US banking sector, with Capital One being no exception. As a major player in the credit card market, Capital One has seen significant challenges in recent months. In its latest rating affirmation, Moody's Investors Service has revised the
Banks (Finance)
Bangkok Bank has launched a new initiative to provide financial support to individuals and businesses affected by the floods in Thailand. The bank is offering special personal loans to customers who receive their salaries via a Bangkok Bank account, with interest rates ranging from 10% to 16% per annum. The
Banks (Finance)
Youths in Kenya, particularly those in Nyeri County, are increasingly turning to farming as a means to overcome the challenge of accessing bank loans for small enterprises. By forming self-help groups and relying on cash flow from their produce, these groups have managed to accumulate wealth and gain access to
Banks (Finance)
The Madurai Bench of the Madras High Court has issued a judgment that may restrict access to education loans for students who have poor academic records. In a case involving A Kasinathan, a second-year MBA student, the court held that banks cannot sanction loans to students who have poor performance
Banks (Finance)
Regulators and politicians were outwitted by financial traders, who spotted the dangers within Royal Bank of Scotland's (RBS) loan book long before the bank's collapse in autumn 2008. Traders suspected that RBS's vast loan book, valued at £32 billion, was hiding significant losses. Their
Banks (Finance)
Dhanlaxmi Bank has entered into a Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC), allowing policyholders to receive payments through electronic funds transfer. The agreement enables policyholders to receive funds directly in their bank accounts using the National Electronic Funds Transfer (NEFT) mode. This collaboration will benefit
Banks (Finance)
Axis Bank, the country's third-largest private sector bank, is seeking to increase its retail operations by targeting smaller cities. The bank plans to raise the share of retail loans to 30% of total loans from the current 21% in the next three years. This move is expected to
Banks (Finance)
The Securities and Exchange Commission has charged three former bank executives, Thomas Wu, Ebrahim Shabudin, and Thomas Yu, with misleading investors about mounting loan losses at San Francisco-based United Commercial Bank during the peak of the financial crisis in 2008 and 2009. The bank's former chief executive officer,
Banks (Finance)
The US Exim Bank has decided to provide loan guarantees worth USD 1.3 billion to support Air India's fleet acquisition from aerospace company Boeing, ahead of a meeting of the Group of Ministers (GoM) to finalize the airline's financial restructuring plan. This decision was taken
Banks (Finance)
Yesterday, French banks faced a new round of scrutiny despite a statement from the central bank governor, Christian Noyer, that their capital levels were adequate. However, a Reuters report that an Asian bank had cut its credit lines to French banks and five Asian banks were reviewing their exposure to
Banks (Finance)
The Monetary Board has issued a resolution disallowing banks from charging "flat" interest rates on loans, a move praised by Cagayan Rep. Jack Enrile as a victory for consumer protection and financial reform. The new policy prohibits banks from using "flat" rates and other methods that
