ROYAL Bank of Canada’s (RBC) investment-banking arm conducted a second round of layoffs in the US in recent months, according to people with knowledge of the matter.
Cashless payments are all the rage these days in Malaysia, and the number of such transactions is set to rise sharply this year with the recent launch of a cross-border QR code payment linkage between Singapore and Malaysia.
Cashless payments are all the rage these days in Malaysia, and the number of such transactions is set to rise sharply this year with the recent launch of a cross-border QR code payment linkage between Singapore and Malaysia.
CREDIT Suisse Group will probably lose about a fifth of the assets in its wealth management business, or roughly 110 billion francs (S$163.2 billion), following its takeover by UBS Group, analysts at Citigroup estimate.
CONSUMERS are starting to fall behind on their credit card and loan payments as the economy softens, according to executives at the biggest US banks, although they said delinquency levels were still modest.
BNP Paribas, the eurozone’s biggest bank, said on Tuesday (Apr 18) its wealth management arm will launch in Thailand to expand its presence in Asian markets.
GOLDMAN Sachs Group’s first-quarter profit fell 19 per cent as sluggish dealmaking eroded the Wall Street giant’s fees from investment banking, while losses from the sale of some loans from its consumer unit, Marcus, weighed on the results.
SUMITOMO Mitsui Financial Group (SMFG) plans to raise about 140 billion yen (S$1.4 billion) by issuing Additional Tier-1 (AT1) debt, a person familiar with the matter said.
HSBC’s management has “fundamentally failed to address key business model challenges”, the bank’s biggest shareholder Ping An said on Tuesday (Apr 18), in an escalation of a spat between Europe’s biggest bank and the Chinese insurer.
BANK of America’s profit rose in the first quarter as it earned more from customers’ interest payments while the Federal Reserve raised borrowing costs.
