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"...

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...

FIRST ABU DHABI TO REINSTATE TALKS WITH BANK AUDI

HIGHLIGHTS

• First Abu Dhabi Bank (FAB) will regain halted talks in acquiring the Egyptian business of Lebanese Bank Audi in an arrangement assessed at around $700 million. FAB is UAE’s biggest asset lenders planning to take over.

FAB will ...

LENDERS KB KOOKMIN AND HANA WITNESS BOOMING PROFITS DESPITE PANDEMIC

• Though there were plenty of border restrictions placed during the COVID-19 pandemic, South Korea’s major lenders KB Kookmin and Hana registered buoyant sales figures overseas in the first-half of the year, attracted by their performance in Southeast Asia.
• Overall, the com...

KAKAO BANK Q1 NET ALMOST TRIPLES

Highlights:

• Kakao Bank, South Korea’s top internet-only lender, first-quarter net profit nearly triples due to increased interest income.
• Net profit reported being 18.5 billion won which is equivalent to USD 15.2 million.
• The first-qu...

JEJU AIR TO BE FINANCIALLY SUPPORTED BY STATE LENDERS

Highlights –

• South Korean local commercial lenders will help Jeju Air in the acquisition process of Eastar Jet
• A loan amount of $164 billion to facilitate Jeju Air
• Jeju Air will purchase 51.17 percent of stake in Eastar Jet

Does Barclays leave the US markets?

The past year has completely changed the way we look at the world from financial revolutions to the slowing economies to the political unrest everything has changed the outlook, and nothing is same as before which I think is a good thing as we are advancing and should be changing our perspectives...

Can the bond market repeat history?

The bond market of the nation of India has been popular in the past, and there have been greater purchases for bonds than one could have imagined by the retail investors in India. The bonds are seen as better investments than the stocks and other volatile investments as they have fixed yields as ...