Banks general

Tech giant Apple set to break ties with Goldman Sachs for credit card business

29 Nov 2023

Apple has decided to terminate its credit card partnership with banking giant Goldman Sachs. Apple had sent a proposal to the Wall Street Bank to end the contract in the next 12 to 15 months.

Barclays plans $1.25 billion in cost savings, considering layoffs for up to 2,000 jobs

24 Nov 2023

Barclays, one of the leading British banks, is reportedly exploring strategies to save as much as £1 billion, with the possibility of cutting up to 2,000 jobs, particularly in the bank's back-office operations.

RBI Governor Das: Increased risk weight is a precautionary approach to ensuring sustainable lending

23 Nov 2023

Reserve Bank of India (RBI) Governor Shaktikanta Das said that the recent instruction to increase risk weights for unsecured consumer loans by banks and non-banking financial companies (NBFC) is a cautious measure taken to ensure sustainable lending.

RBI hikes risk margin for consumer lending by banks, NBFCs

16 Nov 2023

Reserve Bank of India (RBI) has raised the risk weights in respect of consumer credit exposure of commercial banks, including personal loans,  by 25 percentage points to 125 per cent

Greek government sells 20% stake in National Bank

13 Nov 2023

The Greek government on Tuesday announced the sale of a 20 per cent stake in National Bank of Greece (NBG).

A major ransomware attack targets China's largest lender, ICBC

10 Nov 2023

In a major cybersecurity incident, the U.S. arm of the Industrial and Commercial Bank of China (ICBC) fell victim to a ransomware attack, disrupting trade in the U.S. Treasury on Thursday, 9 November 2023.

Citigroup considers significant job cuts in its ongoing CEO-backed restructuring

07 Nov 2023

Citigroup's top management, working under CEO Jane Fraser's reorganization initiative, has reportedly contemplated job cuts of at least 10% in key business segments.

Goldman Sachs announces promotion of 608 new managing directors, a decrease from 2021 numbers

03 Nov 2023

In a recent development, Goldman Sachs, the renowned Wall Street firm, announced its plan to promote 608 executives to the position of managing director in 2023.

Banks sank Rs. 2.09 lakh crore of bad loans in 2022-23

24 Jul 2023

The Reserve Bank of India (RBI) admitted that, during financial year 2022-23 the country’s banks wrote off bad loans amounting to Rs 2.09 lakh crore. This revelation followed a recent Right to Information (RTI) inquiry filed by The Indian Express.

The Rise and Rise of HDFC Bank

03 Jul 2023

HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp

HDFC, HDFC Bank to merge in $40 bn deal

01 Jul 2023

The merger, to be effective from 1 July, will create the world’s fifth largest bank with a market valuation of $175 billion, which will be 100 per cent owned by public shareholders

JPMorgan Chase acquires majority stake in failed First Republic Bank

06 May 2023

JPMorgan Chase has offered to protect all $92 billion of deposits - insured and uninsured - bringing its financial strength, capabilities and capital to the US banking system and First Republic

UBS bails out Credit Suisse in $3.24 billion take-over

21 Mar 2023

Swiss regulator FINMA that offered guarantees to the acquisition said on Sunday that Credit Suisse will write off its $17 billion additional tier-one bonds as part of the deal

SBI makes a Rs12,000-cr windfall from its YES Bank investment

13 Mar 2023

Silicon Valley Bank, sixteenth-largest US bank, collapses

11 Mar 2023

The run on the bank followed a letter sent by Silicon Valley Bank chief executive officer Greg Becker to shareholders stating that the bank had suffered a $1.8 billion loss on the sale of US treasuries and mortgage-backed securities and also outlined a plan to raise $2.25 billion to shore up capital

RBI hikes policy repo rate by a further 25 basis points to 6.50%

08 Feb 2023

The RBI said the Monetary Policy Committee decided to remain focused on withdrawal of accommodation to ensure that inflation remained within the target going forward, while supporting growth

RBI extends deadline for revised bank locker agreements

30 Jan 2023

HDFC Bank’s Q3 NII hits a 7-year high of 25%; net profit rises 19% to Rs12,260-cr

30 Jan 2023

Goldman Sachs to cut over 3,000 jobs as revenues shrink

09 Jan 2023

ICICI Bank loan fraud: Court orders release of Kochars from judicial custody

09 Jan 2023

The Bombay HC on Monday ordered the release of former ICICI Bank chief executive officer Chanda Kochhar and her husband Deepak Kochhar from judicial custody in a case of fraud related to the Rs3,250 crore loan sanctioned to the Videocon Group

SBI Q2 net profit at decade high of Rs12,265 crore

08 Nov 2022

India’s RuPay card and UPI platform now operational in Oman

26 Oct 2022

HDFC Bank’s consolidated Q2 net profit zooms 22.30% to Rs11,125 cr

19 Oct 2022

RBI to soon launch digital rupee; issues concept note

11 Oct 2022

Reserve Bank defines CBDC as the legal tender issued by a central bank in a digital form, which is akin to sovereign paper currency, but in a different form, exchangeable at par with the existing currency as a medium of payment, legal tender and a safe store of value

SBI Q1 net profit down 6.7% at Rs6,068.1 crore

08 Aug 2022

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