Category: Bank
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Deutsche Bank tests Ethereum-based platform to mitigate margin compression
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German banking giant Deutsche Bank AG is looking at blockchain technology as a way to alleviate margin pressure. A new report indicates that Deutsche Bank is testing an unnamed Ethereum-based platform. According to the bank, the platform offers services centered around tokenized funds. Tokenization is the process of creating blockchain-based…
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KDC to get Sh500m World Bank grant for lending
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The Kenya Development Corporation (KDC) has secured a Sh500 million grant from the World Bank to boost its loans to companies managing climate-related shocks. KDC General Manager Nora Ratimo said the company will receive the grant by the end of this financial year. “We will get Sh500 million from the…
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UK Bank to ban customers from performing crypto transactions starting May 30
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Starting May 30, UK digital bank Kroo will ban its customers from making cryptocurrency transactions. Kroo, a London-based digital bank, announced that it will no longer allow its customers to conduct cryptocurrency transactions. This decision comes in response to the increasing number of online fraud and cryptocurrency-related scams. According to…
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UK Bank to ban customers from performing crypto transactions starting May 30
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Starting May 30, UK digital bank Kroo will ban its customers from making cryptocurrency transactions. Kroo, a London-based digital bank, announced that it will no longer allow its customers to conduct cryptocurrency transactions. This decision comes in response to the increasing number of online fraud and cryptocurrency-related scams. According to…
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Do Bank of Canada rate holds risk further damage?
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Article content David Rosenberg, founder and president of Rosenberg Research, recently told the Financial Post’s Larissa Harabin that he expects a rate cut in the central bank’s next announcement in June. “I think the bank should cut interest rates at the next meeting,” he said in a video interview. “If…
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Saxo Bank Names Casper Solbakken as the Global Head of Commercial Offering and Experience
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Saxo Bank has appointed Casper Andreas Solbakken as Global Head of Commercial Offerings and Experiences. Solbakken has worked with the online trading and investing company for over 18 years in various positions. Since July last year, he has been Global Head of Products, Pricing and Platforms. 18 years at Saxo…
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Saxo Bank Merges Sales and SXO Units, Names New Chief Commercial Officer
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Saxo Bank has restructured its operations by merging Global Sales and SXO into a new entity called Group Commercial. This measure aims to simplify operations and enhance operations. The online trading and investment specialist has promised a more cohesive and effective approach to servicing its clients. Improving mutual cooperation According…
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Economic calendar in Asia Monday, 20 May 2024 – People’s Bank of China rate setting day
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Last Wednesday, the People’s Bank of China kept the interest rate on its medium-term lending facility unchanged at 2.5%. The MLF’s no-change rate strongly suggests that the one-year and five-year loan coverage rates will remain at the same rates as well: 3.45% and 3.95%, respectively The MLF rate setting is…
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More Than 6,000 UK Bank Branches Closed in Nine Years Amidst ‘Disastrous’ Impact
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The number of UK bank branches that have closed permanently over the past nine years will exceed 6,000 on Friday, a milestone that highlights the significant impact on local communities. Consumer group what? It published these figures as part of its efforts to draw attention to widespread closures and their…
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Weaker loonie may not deter Bank of Canada diverging from the Fed By Reuters
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By Fergal Smith TORONTO (Reuters) – The Bank of Canada would be willing to cut interest rates three times before the Federal Reserve’s first move before a currency decline threatens to jeopardize inflation expectations, the average estimate of seven analysts in an informal poll showed. The weakness of the Canadian…
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Alpha Bank posts record profit since 2007, eyes dividend resumption By Investing.com
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Alpha Services and Holdings, the parent company of Alpha Bank (ALPHA.AT), reported a robust first-quarter profit of €211 million for 2024, marking the highest earnings the bank has achieved since the third quarter of 2007. The bank has expressed confidence in its full-year outlook, expecting to maintain strong performance with…
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Bank of America: The soft-landing scenario is unfolding
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Here’s a note from Bank of America yesterday: April payrolls (175K) were lower than expected and April CPI (core: down to 3.6% y/y and 0.3% m/m) led the Fed to push its first rate cut from November to September . The yield on the 10-year US Treasury note fell from…
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Deutsche Bank lifts S&P 500 target on strong earnings By Investing.com
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Strategists at Deutsche Bank increased their target for the end of the year to 5,500, compared to the previous 5,100. The review is based on a strong earnings cycle and the expectation that market confidence will grow by the end of the year, which should positively impact US stocks. “We…
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How partnering with a global bank can elevate your enterprise
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From inward-looking businesses to global competitive powerhouses: How partnering with a global bank can level up your organization. You may never understand the weight attached to the bank your business operates until you have to deal with an international entity. One institution comes to mind. Recently, the company was seeking…
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Co-op Bank profit up 8pc to Sh6.6bn in first quarter
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The Cooperative Bank of Kenya posted a 7.7 percent growth in net profit to Sh6.58 billion in the first three months ended March 2024 thanks to increased income and containment of operating costs. The growth in net profits from Sh6.11 billion recorded in the same quarter last year came on…
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Bank of England expects inflation to fall faster than previously predicted
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The Bank of England now expects inflation to fall more quickly than previously expected, falling below the central bank’s 2 per cent target for an extended period. This forecast indicates the need for interest rates to fall faster than what financial markets are currently pricing in. According to the bank’s…
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Bitcoin ETFs Soar As 3rd Largest US Bank Reveals Ownership In New Filing
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In a notable development that highlights the growing interest of traditional financial institutions in Bitcoin (BTC), Wells Fargo, the third-largest bank in the United States, has revealed its exposure to Bitcoin exchange-traded funds. The US Securities and Exchange Commission (SEC) approved regulated index funds in January, allowing them to trade…
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The Curious Case of Chile and the Central Bank Digital Currency
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In the ever-shifting sands of global finance, a strange development has emerged from the South American nation of Chile. Banco Central de Chile, the country’s central bank, Recently published a report on central bank digital currencies – an emerging technology that has the potential to reshape the way money flows.…
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America’s Largest Bank JPMorgan Chase Discloses Spot Bitcoin ETF Holdings: SEC Filing
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JPMorgan Chase, the largest bank in America open exposure to Bitcoin exchange-traded funds (ETFs) in a newly filed document with the Securities and Exchange Commission (SEC) today. Phoenix Trading An SEC filing by JPMorgan Chase provides specific insights into the bank’s exposure to Bitcoin exchange-traded funds. The bank currently has…