Banks (Finance)
Analysts forecast that proposed changes to the Law on Credit Institutions will benefit commercial banks that focus on retail lending due to their ability to quickly process small loans. The amendments aim to include provisions from Resolution No 42/2017/QH14 on piloting bank bad debt settlement, as proposed by
Banks (Finance)
A finance manager in Pune was among the victims of identity thefts by a fraudster who lived a lavish lifestyle funded by fraudulent loans. The fraudster, Yuvraj Bharat Tiwade, 45, exploited gaps in the verification system and employed an alarming modus operandi to steal as many as 23 identities over
Banks (Finance)
The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust), which runs the prominent Lilavati Hospital in Bandra West, has filed a Rs.1,000-crore defamation lawsuit against HDFC Bank CEO Sashidhar Jagdishan, escalating a legal confrontation between the two parties. This move comes just two days after Jagdishan approached the Bombay
Banks (Finance)
The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has filed a defamation suit against HDFC Bank and its Managing Director and CEO Sashidhar Jagdishan, seeking Rs 1,000 crore in damages. The Trust claims that the bank was running a "deliberate and sustained smear campaign" against it. Jagdishan
Banks (Finance)
Deepak Parekh, former Chairman of HDFC, has shared a previously unknown detail regarding the merger between HDFC and ICICI Bank in a conversation with Chanda Kochhar, former CEO of ICICI Bank. Parekh revealed that Chanda Kochhar had once proposed a merger between HDFC and ICICI Bank, well before the HDFC-HDFC
Banks (Finance)
Most banks in India have revised their fixed deposit (FD) interest rates downwards following the Reserve Bank of India's (RBI) decision to cut the repo rate to 5.5% in its June monetary policy review. The RBI's Monetary Policy Committee (MPC) reduced the repo rate by
Banks (Finance)
In a bid to demonstrate their compliance with the Central Bank of Nigeria's (CBN) regulatory forbearance policy, Zenith Bank Plc, Access Bank Plc, and FCMB Group have provided updates on their progress in meeting the requirements tied to their forbearance status. The CBN, in a circular dated 13
Banks (Finance)
Moody's Investors Service has issued a news release affirming Bank of East Asia's (BOE) foreign currency and local currency long-term and short-term deposit ratings at A3/P-2. The announcement also affirms the bank's Baseline Credit Assessment (BCA) and Adjusted BCA at baa2, foreign currency
Banks (Finance)
A cyber attack on Chain IQ, a procurement service provider, has compromised the data of over 130,000 employees, including sensitive information about UBS' employees and operations. The Swiss bank has confirmed the breach, stating that no client data was affected, and that it took swift action to minimize
Banks (Finance)
In a landscape where the Reserve Bank of India (RBI) has cut the repo rate by 100 basis points in three monetary policy review meetings since February 2025, some private sector banks are bucking the trend by offering attractive interest rates on savings accounts. Despite many banks reducing interest rates
Banks (Finance)
Agusto and Co, a pan-African rating agency, has upgraded Wema Bank's ratings to 'A-' from 'Bbb+', affirming a stable outlook for the lender. This decision follows sustained profitability, improved operating efficiency, and a good liquidity profile, supported by strong shareholders' backing. The upgrade
Banks (Finance)
Moody's Investors Service has affirmed the long-term deposit ratings of Groupe Banque Centrale Populaire (GBCP) at Ba1 with a stable outlook, recognizing the bank's solid profitability, stable funding, and high liquidity. The affirmation reflects GBCP's established cooperative bank franchise, sound profitability, stable and granular
