Latest News for: cut bank

Edit

UK’s Virgin Money flags cost pressures in digital push

Metro USA 04 Nov 2021
(Reuters) -British challenger bank Virgin Money revised its strategy on Thursday to switch faster to digital banking services, but warned it would have to spend more to get there, sending its shares down as much as 6%. The lender said it aimed to cut 175 million pounds ($238 ...
Edit

Commerzbank forecasts 2021 profit as European banks post strong Q3

Reuters 04 Nov 2021
2 bank is a victory for the new Chief Executive Manfred Knof, who joined the bank at the start of the year to carry out a 2 billion euro restructuring involving hundreds of branch closures and 10,000 job cuts to get back on a path to profit ... The bank said it was halfway through ...
Edit

Nigeria faces pressure to raise interest rates

Business Day Online 04 Nov 2021
Nigeria’s central bank will ... Other global central banks are also likely to start cutting back on enormous pandemic-related stimulus programmes that caused interest rates to fall last year, as they supported their economies in the face of one of the sharpest contractions in history.
Edit

Bank of England holds interest rates at record low

BBC News 04 Nov 2021
The Bank of England has voted to keep interest rates at their record low level of 0.1%, spurning calls for an increase to tackle surging inflation ... The Bank also cut its forecast for annual growth in 2021 and 2022 to 7% and 5% respectively, down from 7.25% and 6% previously.
Edit

Credit Suisse reins in investment bank after a torrid year

Metro USA 04 Nov 2021
FRANKFURT/ZURICH (Reuters) – Credit Suisse will rein in its investment bank and plough money and staff into a centralised global business catering for the world’s rich as it tries to move on from a string of scandals that have cost billions ... The bank’s shares were broadly unchanged, underperforming European rivals.
Edit

B.C. food bank gets 300 pounds of confiscated moose meat after seizure

Castanet 04 Nov 2021
food bank received 300 pounds of contraband moose meat over the weekend after B.C. conservation officers confiscated cuts from an illegally shot animal ... where they found the meat already cut and wrapped.
Edit

Credit Suisse abandons hedge fund clients after Archegos disaster

New York Post 04 Nov 2021
Senate Banking chair presses Wall Street banks on Archegos ties ... Announcing the restructuring on Thursday, Chairman Antonio Horta-Osorio, who joined from Lloyds Bank in April to bring the Swiss lender to heel, said he was putting risk management and responsibility at the heart of its operations.
Edit

UK central bank keeps rates unchanged despite higher inflation expectations

China.dot.org 04 Nov 2021
4 (Xinhua) -- The Bank of England, Britain's central bank, said on Thursday it will keep interest rates unchanged despite widespread speculation that it will raise rates to contain rising inflation ... The Bank made two emergency cuts of base rate from 0.75 percent to 0.1 percent to support businesses and households since the COVID-19 pandemic began.
Edit

SBI reports highest quarterly profit of Rs 7,627 crore in Q2 FY22

Sify 04 Nov 2021
The country's largest bank, the State Bank of India (SBI) has ... The bank had reported net profit of Rs 4,574 crore in Q2 of fiscal year 2020-21 ... The bank also cut down its NPA further with its net non-performing asset ratio coming down by 7 bps (basis points) to 1.52 per cent YoY.
Edit

Credit Suisse pares back investment banking, sharpens focus on rich

RTE 04 Nov 2021
Credit Suisse will pare back its investment bank and focus on building its wealthy client base, the Swiss bank said today, as it regroups following a string of scandals. The bank will close much of its prime broking business that dealt with hedge funds such as failed investment outfit Archegos.
Edit

Is AIB preparing to cast negative rates net more widely?

The Irish Times 04 Nov 2021
European Central Bank (ECB) president Christine Lagarde continued to insist on Wednesday that her organisation is very unlikely to raise interest rates next year, even as speculation mounted that the Bank of England may move as early as Thursday to hike rates to rein in inflation ... The cut-off point at Bank of Ireland was €2.5 million.
Edit

Banks’ green push requires more stick than carrot

Reuters 04 Nov 2021
LONDON, Nov 4 (Reuters Breakingviews) - Bank watchdogs are finally thinking seriously about global warming ... If governments introduce high carbon prices to cut emissions, those borrowers could default and wipe out a chunk of banks’ capital buffers ... The idea has flaws, as the Bank of England argued in a recent report ... - The Bank of England on Oct.
Edit

Bank of England holds interest rates despite warning on inflation

The Times/The Sunday Times 04 Nov 2021
The Bank also cut its outlook for economic growth to account for continued turmoil in supply chains and forecast that UK gross domestic product grew ...
Edit

DBP installs ATMs in Ticao Island, Masbate

Journal Online 04 Nov 2021
State-owned Development Bank of the Philippines (DBP) recently installed automated teller machines (ATMs) in the underbanked municipalities of San Jacinto and San Fernando in Ticao Island in the province of Masbate, a top official said ... He said the bank has partnered with the cargo and freight company MV Angel Wings, Inc.
Edit

AMLC taps PDEA to probe financial transactions of drug money launderers

Manila Bulletin 04 Nov 2021
In a statement, the Deputized Anti-Money Laundering Council Financial Investigators (DAFIs) are PDEA personnel assigned to investigate the financial instruments like bank accounts and insurance policies used to launder drug money ... The freeze order covers 173 bank and credit ...
×