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...

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 ...

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...

Biobanking Market was Valued at US$ 2202.01 Mn in 2020

According to the recent report published by Absolute Markets Insights (AMI), the global biobanking market stood at a valuation of US$ 2202.01 Mn in 2020 and is estimated to witness enormous growth rate during the forecast period (2021-2029). AMI anticipates the market will grow at 7.1% owing to i...

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...

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...

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...

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...

FED CHAIR JEROME POWELL: US STILL NEEDS TO THINK ABOUT A DIGITAL CURRENCY

Highlights:

•          US Treasury Secretary, Janet Yeller supports a centralized digital currency for the US

•          Powell says they are considering the same “very ca...

HSBC ALL SET TO WITHDRAW FROM US RETAIL BANKING

Highlights

• This withdrawal will form part of the lender’s strategy update which is due on Tuesday, while CEO Noel Quinn is looking to cut down costs, boost fee income and continue the lender’s shift towards Asia

• According to the bank, Michael Roberts ...

CENTRAL BANK OF NIGERIA PROHIBITED CRYPTO DEALINGS

Highlights:

• Nigerian Central Bank does not approve of crypto transactions or exchanges
• Banks have been warned to close any account that deals with the same

Nigeria has a strict anti- cryptocurrency stand as is evident from the stand taken by the Cent...

U.S. MORTGAGE REFINANCE DEMAND SURGES BY 20 PERCENT

Highlights

• There is an increase of 16.7 percent in the Market Composite Index, while a jump of 20 percent in the Refinance Index

• This increase of 20 percent in the Refinance Index was the highest level seen witnessed since last March, with the volume being 93 per...

RBI’S TO INITIATE RECOVERY IN MONEY-MARKET RATES VIA CASH TIGHTENING

HIGHLIGHTS

• The Reserve Bank of India aims to drain Rs. 2 trillion (equal to $27.3 billion) of banking funds.
• The 14-day reverse repo operation to drain the cash starts on 15 JAN 2021.

With Reserve Bank of India (RBI) taking first sma...

CORONAVIRUS INFECTION HAS LED CASHLESS BANKS TO BECOME MORE PREVALENT IN JAPAN

Highlights –

• Coronavirus infection has led cashless banks to become more prevalent in Japan.
• The first cashless bank branch by Sumitomo Mitsui Banking Corp. was recently opened in November.
• Customers need to show their bank books and ...