Category: banks
-
Evercore ISI screens banks likely to fare better when the Fed cuts rates (NASDAQ:FITB)
•
Richard Drew When the Fed raises interest rates, banks’ net interest income generally rises. So, when the central bank eases monetary policy, it makes sense that banks’ net interest income will fall. But it’s more complicated than that, as Evercore ISI explains. Analyst John Pancari said in a recent note…
-
Mizrahi Tefahot posts highest Q2 ROE among Israel’s banks
•
Mizrahi Tefahot Bank, Israel’s third-largest bank, reported a net profit of NIS 1.45 billion in the second quarter, up 3.4% from the same quarter in 2023. Mizrahi Tefahot is the second bank to report an increase in profits on an annual basis, after Bank Hapoalim. Discount Bank and Bank Leumi…
-
Discount Bank’s Q2 profit declines
•
Discount Bank, Israel’s fourth-largest bank, reported a 12.6% drop in second-quarter profits compared to the second quarter of 2023, to NIS 1.04 billion. Return on equity for the quarter was 14.1% year-on-year, down from 18.1% in the corresponding quarter. The bank allocated provisions for credit losses in the second quarter…
-
Expert explains why central banks are cutting rates By Investing.com
•
In the current economic climate, central banks around the world are considering or are already cutting interest rates. This decision is not without controversy, with some critics arguing that such moves may be ineffective in preventing recession or even exacerbate economic problems. However, as economists at TS Lombard have argued,…
-
Norwegian And Swiss Central Banks Invest Heavily In MicroStrategy
•
In a surprise move, the central banks of Norway and Switzerland have emerged as significant shareholders in MicroStrategy, a Virginia-based business intelligence firm. The development has sparked speculation about the underlying motivations behind these major financial institutions’ investments, with several analysts suggesting it could be an indirect play on the…
-
Norwegian And Swiss Central Banks Invest Heavily In MicroStrategy
•
In a surprise move, the central banks of Norway and Switzerland have emerged as significant shareholders in MicroStrategy, a Virginia-based business intelligence firm. The development has sparked speculation about the underlying motivations behind these major financial institutions’ investments, with several analysts suggesting it could be an indirect play on the…
-
Exclusive-Deutsche Bank’s proposed Postbank case settlement offer rejected by plaintiffs By Reuters
•
By Tom Sims FRANKFURT (Reuters) – Deutsche Bank has made a settlement offer to shareholders suing Germany’s largest lender over unpaid fees for its acquisition of Postbank, the plaintiffs’ lawyer said on Friday. Lawyer Jan Bayer (OTC:) dismissed the bank’s offer as “crazy” and “dead from the moment it arrived.”…
-
Banks tap Sh4trn in CBK support on cash crunch
•
Commercial banks have increased their reliance on the Central Bank of Kenya for liquidity support this year as the sector pays the price of low government payments and high interest rates that have made it costly to mobilize deposits from customers. Lenders have withdrawn a cumulative Sh4 trillion from the…
-
Banks tap Sh4trn in CBK support on cash crunch
•
Commercial banks have increased their reliance on the Central Bank of Kenya for liquidity support this year as the sector pays the price of low government payments and high interest rates that have made it costly to mobilize deposits from customers. Lenders have withdrawn a cumulative Sh4 trillion from the…
-
Silicon Valley Bank’s former parent secures approval to end bankruptcy
•
Justin Sullivan/Getty Images News SVB Financial Group (OTC:SIVBQ), the former parent company of failed Silicon Valley Bank, received permission from a U.S. judge on Friday to distribute its assets to its creditors and close its bankruptcy, Reuters reported. According to the report, the bankruptcy plan includes: Provides for the establishment…
-
Silicon Valley Bank’s former owner gains approval to end bankruptcy By Reuters
•
By Dietrich Knuth NEW YORK (Reuters) – SVB Financial Group, the former owner of failed Silicon Valley Bank, received permission from a U.S. judge on Friday to hand over its assets to creditors and end its bankruptcy. Its bankruptcy restructuring allowed it to create a fund to continue litigation against…
-
Kenya banks snoop on staff with AI in war against fraud
•
The sector’s regulator has revealed that commercial banks have deployed artificial intelligence technologies to spy on their employees in a new effort to combat fraud and theft spread by insiders. Fast-growing artificial intelligence technologies, which enable machines to mimic human intelligence in thinking and learning, have taken root in almost…
-
Big banks poised for multi-year inflection point, Wells Fargo’s Mike Mayo says (NYSE:STT)
•
yongyuan Big banks’ second-quarter earnings support the case that the sector is “at a multi-year inflection point from negative to positive growth in revenue, operating leverage, and earnings per share growth,” says Wells Fargo analyst Mike Mayo. The “five Ps” – central banks, capital markets, costs, credit, and capital –…
-
Big banks poised for multi-year inflection point, Wells Fargo’s Mike Mayo says (NYSE:STT)
•
yongyuan Big banks’ second-quarter earnings support the case that the sector is “at a multi-year inflection point from negative to positive growth in revenue, operating leverage, and earnings per share growth,” says Wells Fargo analyst Mike Mayo. The “five Ps” – central banks, capital markets, costs, credit, and capital –…
-
CBK fines 12 banks for breach of lending, investment rules
•
Kenya’s central bank fined 12 commercial banks last year for breaching rules on lending, capital adequacy and investment, new disclosures show. While the Central Bank did not disclose the affected institutions and the size of the fines, it said that “the Central Bank took appropriate corrective measures regarding the concerned…
-
Aussie banks to return $19 million charged in high fee to low-income customers By Reuters
•
(Reuters) – Four Australian banks will return a total of A$28 million ($18.95 million) to low-income customers after a review by the corporate regulator found they were kept in high-fee accounts despite being eligible for cheaper products. ANZ, Commonwealth Bank of Australia, Bendigo Bank, Adelaide Bank and Westpac held at…
-
Like EM central banks, DM banks will need to keep rates higher for longer – BlackRock
•
Vertigo 3D Some emerging market central banks have paused interest rate cuts due to inflation concerns, and policymakers in developed markets may also find themselves forced to stick with higher interest rates for longer, the BlackRock Investment Institute said. Brazil, Mexico and Poland are among the Emerging markets are the…
-
Why only banks recorded growth in 2024 quarter 1
•
Only the banking sector recorded faster growth in the first quarter of 2024, reflecting the huge profits that lenders made from the high interest rates they charged and increased borrowing by cash-strapped companies. Data from the Kenya National Bureau of Statistics shows that all other economic sectors recorded slower growth…
-
Deutsche Bank’s four key risks for H2 of the year
•
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…
-
Why banks must seek Treasury’s nod before raising interest rates
•
The Supreme Court has ruled that banks and financial institutions must seek the approval of the National Treasury before increasing interest rates on loans and facilities provided to customers. A five-judge bench of the Supreme Court headed by Chief Justice Martha Kom also held that Sections 44 and 52 of…