Societe Generale returns to profitability, but faces domestic market pressures

Societe Generale returned to profitability in the second quarter of this year, but its performance was hampered by reduced revenues in France and broader global banking challenges.

The net income of the bank was 900 million euros ($983.6 million). This is significantly higher than the 1...

Global Healthcare Investment Banking Market is Forecasted to Witness Growth at a CAGR of 14.9% over the Forecast Period (2022 – 2030)

Healthcare industry at present is making more money than several other industries. It is taking giant steps, which also helps multiple other industries associated with it to grow. In last couple of decades, it has generated more revenue compared to what combined by other leading industries. Meanw...

$271.1 million was invested by foreign investors, mostly in the banking, communication, and electricity industries

In June 2022, foreign investors surprised everyone by making a 20-month high investment of $271.1 million in Pakistan, mostly in the power, communication, and financial sectors. They did this by putting aside all the negative news about the country's economy and political climate and concentr...

KBank is investing US$ 2.7 billion in technology to provide banking services to unbanked and underbanked Thais

KBank announces a US$ 2.7 billion technology initiative to increase banking access for Thailand's unbanked and underbanked population as well as for very small enterprises and the self-employed. KASINKORNBANK (KBank) has announced a US$ 2.7 billion strategic programme. Accelerated technology ...

Salary Hero, based in Thailand, is a startup that seeks to expand into neo banking

Salary Hero aims to provide more financial flexibility to lower-income Thai workers. The firm, which focuses on earned income access and financial education with hopes to expand into neo banking, revealed today that it has raised $2.8 million in funding. Global Founders Capital, M Venture Partner...

According to reports, DBS, OCBC, and UOB are restricting funding for Russian energy deals

Singapore's leading banks are limiting trade financing for Russian raw materials, as the conflict in Ukraine prompts lenders in Asia's largest resource and commodities trading hub to cut their exposure to the sanctioned country.

According to reports, the restrictions include a p...

Sri Lankan government appoints a new 8-member committee to supervise Cryptocurrency and Blockchain

Sri Lankan government appoints a new eight-member committee, including officials and Fintech experts from the banking sector.The committee members will observe the growth in the crypto space.

Highlights

• Sri Lankan government appoints new committee to ...

JP Morgan launches digital retail bank, Chase takes over British rivals

Highlights

• JP Morgan launching its long-awaited digital retail bank, Chase
• This venture will expand in other continents and later on globally

JP Morgan is challenging its British rival. The U.S lender is hoping for global expansion.

Th...

Find Out What are the Important Factors Boosting the Demand of Global Microbial Cell Banking Market

According to the new report published by Absolute Markets Insights (AMI), the global microbial cell banking market is growing at a CAGR of 14.45% during the forecast period of 2021-2029. AMI anticipates that the market will grow as the demand for microbial cell banking has increased. The microbia...

CITIBANK KOREA POSTPONES EXIT PLAN AGAIN

HIGHLIGHTS

• Citibank Korea has postponed its decision on exit plan for the second time.
• Citibank was earlier planning to stop its retail business operations in South Korea.
• Citibank apparently failed to agree on sales terms with potential bu...

Global Stem Cell Banking Market by Current Industry Status, Growth Opportunities

Stem cell banking offers people, an opportunity to have their cells cryogenically frozen at a time when they are perfectly healthy. The cells can be stored and kept safely for decades. Years later, people can use those cells at the time of requirement which can be during old age. Today as the med...

BITCOIN BAN: CHINA REITERATES

Highlights:

• High crypto trading worries China
• China reiterates the bans put on BTC in 2013 & 2017

China was never in favour of the cryptocurrency domain. Ironically though, it is still a hub of bitcoin miners. However with the rise of Bitcoin, an...

YES BANK WANTS TO BUY CITIBANK INDIA'S RETAIL ASSETS

HIGHLIGHTS

• Yes Bank is interested in buying retail assets of Citibank India.
• The India business of Citibank included credit card service, retail banking, mortgages, and wealth management.
• Citibank India also had a presence in the distributi...

CHINA’S WEALTH MANAGEMENT PRODUCTS & PROPERY LOANS RISE IN Q1

Highlights –

• China’s wealth management products & property loans rise in Q1.
• At the end of March, China’s banking system had about $3.87 trillion of outstanding wealth management products.
• China's outstanding prope...

FIRSTRAND BANK TO EXIT INDIA

HIGHLIGHTS

• South Africa-based Bank has decided to shut down its operations in India.
• First Rand Bank started its operations India 12 years ago.
• A licensed financial services provider in IndiaFirst Rand India operates as a "branch"...

CBIRC ASKS CHINESE BANKS NOT TO WITHHOLD LOANS TO HUARONG

Highlights –

• CBIRC asks Chinese banks not to withhold loans to Huarong.
• Huarong is reportedly one of China's four biggest distressed asset management companies.
• Huarong and its subsidiaries reportedly have outstanding offshore bon...

CITIBANK TO EXIT FROM CONSUMER BANKING BUSINESS IN INDIA

Highlights

• Citibank's consumer banking business in India comprises credit cards, home loans, retail banking and wealth management, and has 35 branches across the country

• Citibank provides employment to approximately 4,000 people in the country’s banking...

BYTEDANCE CRIES HARASSMENT OVER FROZEN BANK ACCOUNTS IN INDIA

HIGHLIGHTS

• Bank accounts of ByteDance India have been frozen.
• ByteDance was being investigated for alleged tax evasion-documents.

In an Indian court, Chinese company ByteDance recently claimed that Indian government's move regard...

S. KOREA’S INTERNET BANKING SERVICES ROSE 20.6 PERCENT IN 2020

Highlights –

• S. Korea’s internet banking services rose 20.6 percent in 2020.
• The value of daily transactions via online banking reached $52 billion in the reporting year.
• As of end-of-December the online banking services reached...

ICBC AND BOCOM REPORTED NET PROFIT OF 40% FOR THEIR FOURTH-QUARTER

Highlights –

• ICBC and BoCom reported net profit of 40% for their fourth-quarter.
• The banks had their first profit gain in three quarters.
• ICBC reported a 44.2% jump in fourth-quarter net profit.
• BoCom profit also climed 1.3...