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A GROUP of five banks including JPMorgan, Citi and BNP Paribas are among the investors which backed an overall US$24 million fundraising for risk control specialist Acin, as part of their strategy to step up their risk expertise.

INDONESIA’S parliament widened the central bank’s mandate on Thursday (Dec 15) to include supporting sustainable economic growth, and to formalise its direct purchases of government bonds. Critics fear the legislative move may undermine the bank’s independence.

CITIGROUP will wind down its consumer banking business in China in a move that will affect about 1,200 local employees, the bank said on Thursday (Dec 15).

THE Hong Kong Monetary Authority (HKMA) said on Thursday (Dec 15) it would raise its base rate charged through the overnight discount window by 50 basis points to 4.75 per cent, hours after the US Federal Reserve delivered a rate hike of the same margin.

A SMALL group of HSBC’s Hong Kong-based retail investors are seeking support to put a resolution to the bank’s 2023 annual meeting calling on it to restore its pre-pandemic dividend and set a plan to spin off assets. HSBC “underperforms its peers, violates dividend commitments (and) ignores shareholder interest,” Ken...

THE Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 50 basis points to 4.75 per cent, hours after the US Federal Reserve delivered a rate hike of the same margin.

THE Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as a rise in unemployment and a near stalling of economic growth. The US central bank’s...

THE Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as a rise in unemployment and a near stalling of economic growth. The US central bank’s...

BANKS in Singapore are beautifying their local branches in hopes of delivering something different to their customers, with large lounges and non-financial services on offer.

AMERICAN International Group said on Wednesday (Dec 14) its subsidiary, AIG Financial Products (FP), had filed for Chapter 11 bankruptcy protection.