Category: Bank
-
Bank admits withholding Sh294 million loan from Tuju’s Karen villas project
•
An official at the East African Development Bank has admitted that the bank has not disbursed part of the loan taken by former cabinet secretary Raphael Tuju. Mr David Odongo told Justice Alfred Mabia that the loan deal with Mr Tojo was in two tranches, with $9.1 million to buy…
-
Deutsche Bank Q2 beats estimates, RBC maintains “outperform” despite headwinds By Investing.com
•
Investment.com – German Bank DBK (ETR:) reported a positive set of second-quarter results that beat analysts’ expectations for net income and pre-tax earnings, according to a report from RBC Capital Markets. The upbeat performance was driven by strong revenue growth across all business divisions. Strong revenue growth across core businesses:…
-
Daily FX Market Review: Pressure Mounts on Bank of Japan as Yen Rises for Second Day
•
the Japanese Yen The pound rose for a second day in a row against the US dollar, supported by comments from a senior Japanese politician. Bank of Japan (BOJ) conducts Urged by Toshimitsu Motegia senior official in Japan’s ruling party, to more clearly indicate his intention. Monetary policy normalization. Normalization…
-
Faulu Microfinance Bank launches money market fund
•
Faulo Microfinance Bank has launched the Money Market Fund (MMF), with the aim of expanding investment options for its clients. A money market fund (MMF) is a type of mutual fund that invests in high-quality, short-term debt instruments, cash, and cash equivalents. Although not quite as safe as cash, money…
-
Swiss bank Julius Baer names Goldman Sachs executive as new CEO By Reuters
•
By John Revell ZURICH (Reuters) – Julius Baer said on Tuesday it had appointed Goldman Sachs partner Stefan Bollinger as its new chief executive, as the Swiss private bank looks to move on from the Signa debacle that cost it millions of dollars and damaged its reputation. The appointment ends…
-
Unit trusts pile into bank deposits on higher rates
•
Collective investment schemes tripled their share of assets under management in the form of cash and demand deposits to Sh35.3 billion in the 12 months to March 2024, chasing high interest rates on deposits offered by liquidity-starved banks. New data on investment fund assets released by the Capital Markets Authority…
-
Deutsche Bank expect further losses still to come for large cap tech stocks
•
Via CNBC, here are Deutsche Bank’s thoughts on the additional losses that still lie ahead for large-cap tech stocks: The shift from big tech to small cap companies that has occurred will be more than just a short-term glitch. The market still has a lot of optimism in mind about…
-
Hong Kong’s Top Virtual Bank to Offer Reserve Services to Crypto Stablecoin Issuers
•
Hong Kong’s largest virtual bank, ZA Bank, achieved a new milestone earlier today by an offer Hong Kong has announced plans to offer exclusive Reserve Bank services to stablecoin issuers, a move in line with Hong Kong’s recent regulatory progress regarding cryptocurrencies. The initiative is part of the region’s new…
-
UK pay growth slows but remains high for Bank of England By Reuters
•
LONDON (Reuters) – British workers’ wage growth slowed in the three months to the end of May but remained at levels typically too high for the Bank of England to keep inflation at its 2 percent target. Average weekly earnings excluding bonuses – a key gauge of inflationary pressures for…
-
Standard Chartered boosts private bank team with 14 new hires By Reuters
•
HONG KONG (Reuters) – Standard Chartered has hired more than a dozen new bankers for its private banking teams in Singapore, Hong Kong and the United Arab Emirates in a bid to grow its wealth management business, the bank said in a statement on Thursday. The appointments include Nicholas Cheng,…
-
Deutsche Bank upbeat on Spotify and Warner Music prospects By Investing.com
•
Deutsche Bank on Wednesday expressed a positive outlook on market sentiment for Spotify (NYSE:SPOT) and Warner Music Group Corp. (NASDAQ:WMG) ahead of their upcoming earnings reports. The company highlighted continued strength in streaming and download numbers as the third quarter began, indicating strong demand across the industry. The bank noted…
-
Canadian CPI cements a Bank of Canada rate cut next week – CIBC
•
The Bank of Canada is scheduled to meet on July 24, and economists are increasingly confident that interest rates will be cut. This is also reflected in interest rate derivatives, which now show a 93% chance of a rate cut. The consumer price index slowed to 2.7% from 2.9%, with…
-
Bank of America Q2 profits drop as higher interest rates slow down lending
•
NEW YORK (AFP) – Bank of America Corp reported a decline in second-quarter profit on Monday, as higher interest rates eroded the bank’s expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America has seen a pickup in activity in its investment banking division, which has…
-
Bank of America Q2 profits drop as higher interest rates slow down lending
•
NEW YORK (AFP) – Bank of America Corp reported a decline in second-quarter profit on Monday, as higher interest rates eroded the bank’s expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America has seen a pickup in activity in its investment banking division, which has…
-
Bank reserves are still ample — but for how much longer? By Investing.com
•
Barclays analysts warn that while bank reserves remain plentiful, their abundance may not last long. The Barclays analysis suggests that the transition to a steeper part of the reserve demand curve, where prices start to move higher, could occur when reserves reach about $3.1 trillion. Analysts expect the quantitative tightening…
-
Last bank in paddock wood closes, impacting local community
•
NatWest, the last remaining bank in Paddock Wood, has permanently closed its Station Street branch, marking the end of all banking services in the expanding Kent city. This closure follows previous closures of HSBC and Barclays, leaving locals without a dedicated bank. The Paddock Wood area has seen significant population…
-
Bank Korea drops phrase ‘upside risks to inflation forecasts have increased’ from statemt
•
High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
-
Ten investment bank forecasts for June US CPI. The median is Core @ 3.4% & Headline @3.1%
•
High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
-
Deutsche Bank says Trump presidency + China tariffs = EUR/USD @parity
•
In an interview with Bloomberg TV, Deutsche Bank’s George Saravelos spoke about the main point he made in his talk about the euro: “Imagine a situation where the US erects a massive tariff wall against China.” “All these Chinese goods will have to be diverted to other markets including Europe,…
-
Reserve Bank of New Zealand policy meeting this week – preview (on hold widely expected)
•
The Reserve Bank of New Zealand will announce its decision at 2pm NZ time on Wednesday 10 July, which is 0200 GMT on the 10th and 2200 EST on the 9th. Brief comments via Westpac on what to expect: We do not expect any change to the policy rate –…