CONSUMER BANKING

Citi Completes Sale of Indonesia Consumer Banking to UOB Marks Ninth Sale Completed as Part of Citi’s Strategy Refresh and Final Full Consumer Divestiture for Asia

JAKARTA – Citi announced today it has successfully completed the sale and full migration of its Indonesia consumer businesses to UOB Indonesia(UOBI). The sale includes retail banking, credit card, and…

Bank phishing scams are most common among GenZ in Singapore, GenX most frequent victims of online shopping scams

Last week, the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) proposed a Shared Responsibility Framework (SRF) for phishing scams in Singapore. The framework requires financial institutions and telecommunication companies to share…

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BBVA sees further deterioration in South America, overshadowing Q3 profit gain

Q3 net profit up 13% to 2.1 bln euros, slightly above forecasts Q3 NII up 22.5% to 6.4 bln euros, beating forecasts Provisions rose 29% y/y in the quarter, above…

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Bank of Japan hikes bond buying as benchmark yields hit decade peak

The Bank of Japan announced it’s increasing its bond purchases at Wednesday’s auction, as a spike in government bond yields tests its resolve to defend its yield curve control policy….

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UniCredit to launch early part of 2023 share buyback for 2.5 billion euros

MILAN, Sept 20 (Reuters) – Italy’s UniCredit (CRDI.MI) on Wednesday said its strong fundamentals would allow it to bring forward up to 2.5 billion euros ($2.7 billion) of its 2023 share buyback…

UniCredit CEO says no big impact from bank tax, but uncertainty harmful

MILAN, Sept 20 (Reuters) – The surprise bank tax Italy’s government introduced in August has no major impact on UniCredit’s (CRDI.MI) earnings, but the uncertainty it stoked is damaging, Chief Executive Andrea…

RBA considered raise in Sept but wants more time to assess past hikes

SYDNEY, Sept 19 (Reuters) – The Reserve Bank of Australia considered a 25 basis point hike in interest rates before eventually deciding to hold the benchmark cash rate unchanged at…

Pax8 announces strategic relationship and growth capital financing with global banking leader HSBC

The newly established relationship provides Pax8 with a US$50 million line of credit, bolstering the company’s already substantial liquidity position and furthering its growth ambitions. The company notes that they…

Chinese banks post sluggish profit growth, warn of regional debt risks

BEIJING/HONG KONG, Aug 30 (Reuters) – Two of China’s biggest banks on Wednesday posted sluggish profit growth as the economy struggles to bounce back after the lifting of pandemic restrictions,…

Canada’s National Bank misses estimates on capital markets, provisions

Aug 30 (Reuters) – National Bank of Canada (NA.TO) on Wednesday reported quarterly earnings below analysts’ expectations hurt by weakness in its capital markets business and higher bad loan provisions. The smallest…

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                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

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