Banking Industry News
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Brexit Finance Shift to France to Accelerate, Central Bank Says
The shift of jobs and assets to Paris after Brexit will accelerate this year, providing Europe with an opportunity to strengthen its own financial infrastructure, according to Bank of France Governor Francois Villeroy de Galhau. Financial…
Rakuten mounts third attempt for industrial bank charter
WASHINGTON — Rakuten has submitted another application to the Federal Deposit Insurance Corp. for an industrial bank, its third attempt in less than two years. In an interview with American Banker, Rakuten Bank America CEO Lee Carter said…
VMware BrandVoice: Faster To The Future Of Banking
What will banking look like 10 years from now? Financial services and more specifically banking, has changed so much during the last decade. Many retailers and shoppers worldwide now prefer electronic payments over cash or credit. They embraced…
Trovata.io raises $20 million to aggregate enterprise bank accounts with AI
Banking technology startup Trovata.io today announced it has raised $20 million in a series A round led by Wells Fargo Strategic Capital. The investment will be used to deliver new services and accelerate multi-bank APIs globally, the company says…
Bank of America Profit Falls 22%
Bank of America Corp.'s earnings fell 22% in the fourth quarter. The second-largest bank in the U.S. said Tuesday that its profit totaled $5.47 billion in the final three months of the year, versus $6.99 billion a year earlier. Still, per-share…
Billionaire Benjamin De Rothschild, Heir To Storied Banking Fortune, Dies At 57
Benjamin de Rothschild, an heir to the Edmond de Rothschild banking legacy, died at age 57 after suffering a heart attack, his group announced on Saturday. Edmond de Rothschild Holding SA described Benjamin as a “visionary entrepreneur…
Nigeria's Biggest Bank Picks Eight African Nations for Expansion
Access Bank Plc, Nigeria's biggest lender, has identified eight African countries for a potential expansion as it seeks to benefit from a continental-wide free trade pact. Access Bank plans “to expand to high-potential markets, leveraging…
China Banks Stage Comeback as Big Tech Crackdown Spurs Rally
Chinese banking stocks, perennial under-performers with valuations hovering near record lows, may finally have some good news to cheer up investors. China Merchants Bank Co., dubbed as China's retail banking king, had its best ever start to the…
Wall Street's Leading Banks Widen Gulf With Rivals Amid Pandemic
Evidence is mounting that Wall Street's top investment banks spent the pandemic building up their leads. As the banner year for markets came to a close, JPMorgan Chase & Co. posted record profit in the fourth quarter, helped by a 20% increase in…
Almost 90% see market bubbles in Deutsche Bank investor survey
LONDON (Reuters) - Nearly 90% of respondents in Deutsche Bank's monthly investor survey said financial markets now had a number of price bubbles, with cryptocurrency Bitcoin and U.S. tech stocks top of the list. When asked specifically about the…
Democrats Pledge To Fight Rule Ensuring Banks Serve Conservatives
In its final days, the Trump administration is seeking to disrupt the way progressive activists increasingly impose their will on big business: through banks controlling the loan lifelines to the economy. A regulation just finalized (update) aims…
Investors think there's more chance Tesla and bitcoin will halve than double, warns Deutsche Bank
Investors are returning from the long holiday weekend in an upbeat mood, with some attributing that optimism over an imminent changing of the guard at 1600 Pennsylvania Avenue. And we've got earnings and comments from Biden's top Treasury pick…
Banks Need a Pickup in Loans to Prosper
Heading into 2021, it appears that things aren't getting any worse for bank stocks. But it may be some time before they get much better. Bank of America executives on Tuesday suggested that the bank's net interest income likely bottomed in the…
Bahrain hires banks for multi-tranche dollar bonds
DUBAI, Jan 19 (Reuters) - Bahrain has hired a group of banks to arrange a multi-tranche U.S. dollar-denominated bond sale, as Gulf borrowers line up to tap the market following the end-of-year lull. Bahrain hired Bank ABC, Citi, Gulf International…
Yellen's Dollar, Central Bank Juggle, Banana Republic: Eco Day
Trump leaves town an outcast, trailed by pandemic, job losses As Thailand troubles grow, the king moves to bolster his image Welcome to Wednesday, Asia. Here's the latest news and analysis from Bloomberg Economics to help you start the day: Janet…
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