Banks (Finance)
As the Federal Reserve granted lenders the green light to resume stock repurchases, starting in the first quarter, banking stocks saw a significant jump on Monday. The decision, announced alongside the results of a second round of stress tests, came on the heels of the coronavirus pandemic, which had devastated
Banks (Finance)
Affin Bank Bhd has introduced AffinMax, a cutting-edge corporate internet banking platform designed specifically for small and medium enterprises (SMEs) and corporate clients. This innovative platform offers a one-stop access to the bank's financial products and services, covering cash management, trade finance, SME, and retail products. With AffinMax,
Banks (Finance)
Singapore's Oversea-Chinese Banking Corp Ltd (OCBC) and United Overseas Bank Limited (UOB) have maintained their Aa1 deposits and senior unsecured debt ratings, according to Moody's Investors Service. The ratings affirmation comes despite the challenging operating environment due to the coronavirus pandemic and economic volatility. Moody'
Banks (Finance)
Kenyan banks' heavy investment in government debt and reliance on treasury bills and bonds threatens their credit ratings, prompting Moody's to warn of a possible downgrade. As the government's debt distress deepens, banks are exposed to a greater risk of default, impacting their liquidity buffers
Banks (Finance)
HDFC Bank, the largest credit card issuer in India with nearly 1.5 crore credit card consumers, has been barred by the Reserve Bank of India (RBI) from issuing new credit cards and launching fresh digital banking initiatives due to a breakdown of services that left customers unable to transact
Banks (Finance)
HDFC Bank has been facing several outages in its internet banking, mobile banking, and payment utilities over the past two years, including a recent power failure in its primary data centre on November 21. The Reserve Bank of India (RBI) has asked the private sector lender to temporarily halt all
Banks (Finance)
As the pandemic continues to impact the retail industry, leaders from ICSC, TD Bank, and NEST gathered during The Rollout Event to discuss the current state and future of retail. Despite the challenges, the panel provided an optimistic outlook, citing retailers' flexibility, pent-up customer demand, and consumers' available
Banks (Finance)
Multiple stocks in the Indian market are gearing up for significant moves, driven by announcements from top companies and regulatory decisions. Prominent among these are Vodafone Idea, whose parent company Vodafone Group Plc has secured funding from a consortium, and IndusInd Bank, whose promoter Hinduja Group is poised to raise
Banks (Finance)
India's economic growth has been constrained by a broken banking system, with public sector banks seeing their share in total advances and deposits fall from 74-76% to 60-65% in the last five years. The Centre cannot keep recapitalizing public sector banks, and the solution is to allow more
Banks (Finance)
The Indian government, through the Ministry of Finance, has placed Lakshmi Vilas Bank under a moratorium from November 17 to December 16, 2020, as part of its efforts to stabilize the ailing financial institution. The Reserve Bank of India (RBI) has also released a draft scheme for the amalgamation of
Banks (Finance)
The Bank of East Asia, Limited has issued an announcement regarding adjustments to its proposed spin-off and distribution. The adjustments, which include changes to the basis for the distribution, are expected to take effect on November 20, 2020. In addition, trading in the company's warrants has been suspended
Banks (Finance)
The Bank of East Asia, Limited has launched three new Callable Bullion-type Bullion Covered Bonds (CBBCs) with a total issue size of 130,000,000 CBBCs, comprising 60,000,000 CBBCs, 40,000,000 CBBCs, and 30,000,000 CBBCs respectively. The CBBCs are designed to track the stock prices
