Bank
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Bank of Singapore to invest in hiring, tech to boost assets, CEO says
[SINGAPORE] Bank of Singapore plans more investment in hiring and technology as it aims to climb into Asia’s top five private banks within five years after assets under management rose…
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New Zealand central bank says economic recovery picking up
[AUCKLAND] Early indicators suggest the economy had been expanding during the second half of this year and demand had stabilised, Reserve Bank of New Zealand Governor Christian Hawkesby told a…
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New Zealand central bank cuts cash rate by 25 bps to 2.25%
Policymakers signal likely end to easing cycle as economy shows early signs of picking up [AUCKLAND] New Zealand’s central bank cut its benchmark official cash rate (OCR) by 25 basis…
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Gambling, prediction markets create new credit risks, Bank of America warns
The bank says that there are already worrisome signs in some indicators of consumer stress, citing a US News survey [NEW YORK] Bank of America (BOA) is sounding the alarm…
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ECB reviews claims Deutsche Bank downplayed financial risks
It underplayed risks in its balance sheet and gave misleading picture of its financial health [BRUSSELS] The European Central Bank is examining claims that Deutsche Bank underplayed risks in its…
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Bank Hit With Nearly $40K Penalty Over Aggressive Debt-Collection Tactics
Scotiabank has been ordered to pay nearly $40,000 after Consumer Protection BC found the bank harassed a Vancouver customer by making more than 100 collection calls in 90 days, despite…
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DBS said to revise Alliance Bank offer proposal to 30% stake
It made the decision after failing to get approval for its initial request to buy as much as 49% [SINGAPORE] Singapore’s biggest bank has withdrawn an application to start talks…
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Indian central bank likely intervenes to prop up rupee before local market open, traders say
[MUMBAI] The Reserve Bank of Indian likely intervened to support the rupee before the local spot market opened on Monday, four traders told Reuters, putting the currency on track to…
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Thai central bank sees room for rate cut, wants a weaker baht
THAILAND’S newly-appointed central bank governor says the baht should be weaker to reflect economic fundamentals, and there is room to ease monetary policy further. The baht’s strength is a result…
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HSBC’s Swiss private bank boosts some bankers pay to stem exits
The Swiss arm has been increasing compensation of staff, including relationship managers [LONDON] HSBC Holdings’ Swiss private bank is boosting the pay of some of its staff as it looks…
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Indian rupee slides to record low, central bank likely intervenes near 89.50/USD
[MUMBAI] The Indian rupee weakened to a lifetime low against the greenback on Friday (Nov 21), pressured by shrinking risk appetite amid fading expectations of a Federal Reserve rate cut…
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Bank of Japan drops fresh hints of near-term rate hike as yen slides
The remarks keep alive the possibility of a rate hike as soon as its next policy meeting on Dec 18 and 19 [TOKYO]The Bank of Japan (BOJ) will discuss at…
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Deutsche Bank warns of Japan capital flight in echo of UK crisis
Concerns over Takaichi’s spending plans have sent government bond yields to multi-decade highs and the yen has weakened to its lowest level since January [LONDON] Sanae Takaichi’s spending plans have…
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China investment bank CICC to acquire two smaller rivals
Beijing is trying to cultivate first-class domestic investment banks capable of standing up to global heavyweights [HONG KONG] China International Capital Corporation (CICC) plans to acquire two smaller brokerages as…
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Bank Indonesia policy juggle makes rate moves harder to predict
The central bank has spurned market expectations at half of its 10 policy meetings so far this year [JAKARTA] Bank Indonesia’s (BI) balancing act between stability and growth has lately…
