by Priyanka Sharma | October 22, 2024 | Banking, Investment Banking, News
HSBC said on Tuesday that it would combine some of its commercial and investment banking operations in a major overhaul under its new CEO, which will see it cut costs while trying to improve returns, reports CNN. The bank also announced a new leadership structure,...
by Jibran Munaf | October 22, 2024 | Banking, Banking Regulations
The U.S. Consumer Financial Protection Bureau (CFPB) introduced long-anticipated rules on Tuesday designed to promote open banking, enabling consumers to control and share their financial data more freely when selecting services. The regulations aim to encourage...
by Jibran Munaf | October 22, 2024 | Banking
In the first nine months of 2024, the Middle East and North Africa (MENA) region generated approximately $1 billion in investment banking fees, marking a 27% increase from the previous year. HSBC emerged as the leading earner in this sector, amassing $80.4 million in...
by Jibran Munaf | October 21, 2024 | Banking
The European Central Bank (ECB) is keeping its options open for its final meeting of 2024, with Governing Council member Peter Kazimir signaling that more rate cuts are possible. Kazimir emphasized that disinflation is on “solid footing” but indicated that...
by Jibran Munaf | October 21, 2024 | Banking
China’s central bank cut its benchmark lending rates by 25 basis points on Monday, as the government seeks to stimulate the country’s flagging economy. The People’s Bank of China (PBOC) announced that the one-year loan prime rate (LPR) has been reduced to 3.1%, while...
by Jibran Munaf | October 19, 2024 | Banking, Corporate Finance
First Abu Dhabi Bank (FAB), the largest lender in the UAE, posted impressive financial results for Q3 2024, with a net profit of AED4.46 billion ($1.2 billion). This marks a 5% year-on-year (YoY) increase, driven by robust revenue growth that offset higher impairment...
