Banks (Finance)
The Bhubaneswar Municipal Corporation (BMC) has taken a significant step to alleviate financial burdens on beneficiaries of affordable housing schemes under Pradhan Mantri Awas Yojana (Urban) 2.0. In collaboration with a private sector bank, the BMC aims to provide housing loans to 600 allottees who have been sanctioned houses
Banks (Finance)
US-based bank holding company Customers Bancorp, Inc. (NYSE: CUBI) has priced an underwritten public offering of 2,189,781 shares of its voting common stock at a public offering price of USD 68.50 per share. The gross proceeds to the company is approximately USD 150m, which will be used
Banks (Finance)
The Alts Expanded Access Program aims to provide ultra-high-net-worth (UHNW) clients with access to institutional-grade private market funds, offering a more diversified portfolio allocation. This move reflects the growing demand for non-traditional investments, particularly among young high-net-worth investors. According to a 2024 Bank of America Private Bank Study, 93% of
Banks (Finance)
A series of applications under the Change in Bank Control Act, published by the U.S. Federal Reserve System, has attracted attention from various individuals and partnerships seeking to either acquire or retain voting shares in bank and holding companies. The applications were filed with the Federal Reserve Banks of
Banks (Finance)
The Standard Bank of South Africa Limited has successfully secured a listing on the Johannesburg Stock Exchange for its SBC200 Senior Unsecured Floating Rate Credit Linked Notes. This listing falls under the bank's Structured Note Programme, with an authorized programme size of 150.00 billion rand. The notes,
Banks (Finance)
The Enforcement Directorate (ED) has arrested a Trinamool Congress (TMC) MLA, Jiban Krishna Saha, in connection with a corruption scandal involving the recruitment of government teachers. Saha allegedly used Gramin Bank accounts to evade suspicious transactions alerts and launder money collected from candidates. The ED official stated that Saha and
Banks (Finance)
The Office of the Federal Register has issued a notice announcing applications from various companies seeking approval to become bank holding companies or acquire control of banks. The applications, listed below, are available for public inspection at the Federal Reserve Bank indicated and at the offices of the Board of
Banks (Finance)
The Bank of America Private Bank, in collaboration with Merrill Wealth Management, has introduced the Alts Expanded Access Program, a new private market program designed for ultra-high-net-worth clients with a net worth of $50 million or more. This program offers ultra-high-net-worth clients a unique opportunity to invest in private market
Banks (Finance)
The Office of the Federal Register has issued a notice by the Office of the Comptroller of the Currency and the Federal Reserve System regarding applications to acquire shares of banks and bank holding companies under the Change in Bank Control Act. The notice allows interested parties to express their
Banks (Finance)
Moody's Ratings has affirmed China Guangfa Bank Co., Ltd.'s long-term/short-term local and foreign currency deposit ratings of Baa3/P-3, basing its decision on the bank's steady asset quality, capitalization, profitability, and liquidity over the next 12-18 months. The affirmation also reflects the bank&
Banks (Finance)
Investec Bank Limited has made significant strides in the financial market by listing its new instrument, the IBL331 Notes, on the Johannesburg Stock Exchange (JSE). This move is expected to enhance the diversity of investment opportunities available and reflects a moderate shift in the market. The IBL331 Notes, which are
Banks (Finance)
India's state-owned lenders pay their employees significantly more than their private counterparts, despite the chiefs of private banks earning much higher salaries than their public sector counterparts, a Mint analysis of data from annual reports has shown. The average salaries at State Bank of India (SBI) and Bank
