EUROPEAN banks are raking in their highest profits since before the global financial crisis, as they benefit from an unprecedented series of rate increases that have driven a surge in lending income. The question is how long this can last.
DERIVATIVES shops, used to clearing hundreds of billions of dollars in trades every day, found themselves in a dramatically different era this week: the old days of manually processing deals.
CHINA’S banking sector bad loan ratio stood at 1.71 per cent at the end of 2022, down 0.09 percentage point from a year earlier, the Shanghai Securities News said on Friday (Feb 3), citing the sector’s regulator.
THE Adani Group’s US$120-billion loss in market value after Hindenburg Research accused it of fraud roughly equates to India’s annual infrastructure budget. But the government has shown few signs of worry – or at least that is the impression it is giving to the markets.
SWITZERLAND’S Attorney-General’s Office (AGO) has launched a probe into a data leak wherein of thousands of former Credit Suite clients’ account details changed hands.
STATE Bank of India (SBI), the country’s largest lender, on Friday (Feb 3) said its third-quarter profit surged 68.5 per cent to a record high, boosted by better interest income and a drop in bad loan provisions.
STATE Bank of India (SBI), the country’s largest lender, on Friday (Feb 3) said its third-quarter profit surged 68.5 per cent to a record high, boosted by better interest income and a drop in bad loan provisions.
A RANSOMWARE attack that hit ION Trading UK could take days to fix, leaving scores of brokers unable to process derivatives trades, sources familiar with the matter told Reuters.
ING Group on Thursday (Feb 2) reported a fourth-quarter net profit of 1.1 billion euros (S$1.6 billion), exceeding forecasts, but its shares fell as guidance for 2023 fell short of expectations.
THE European Central Bank raised interest rates again by another half a percentage point on Thursday (Feb 2) and pencilled in at least one more hike of the same magnitude next month.
