Credit Suisse board backs says the CEO
Credit Suisse’s board of directors is convinced that Chief Executive Thomas Gottstein is the right person to strategically realign the bank. This realignment can be done by curbing risk appetite, said the Swiss bank‘s chairman in a newspaper interview. When he was asked whether he was planning to replace Gottstein as CEO or take over the operational lead […]
Scrapping banker bonus cap not a priority
Bank of England Deputy Governor Sam Woods said that scrapping a cap on bankers’ bonuses inherited from the European Union is not a top priority. Other curbs on remuneration that are aimed at fostering financial stability should not be weakened. Britain’s departure from the EU has raised hopes in the financial sector. Some rules might be changed. […]
There should be banking M&A – Deutsche Bank CFO
Deutsche Bank says that there should be consolidation in the European banking sector. Chief Financial Officer James von Moltke said that the task in hand is to prepare for that outcome. Von Moltke told a financial conference hosted by BofA Securities, that it should first complete a strategic overhaul before contemplating major deals. He also said that they […]
Bank of England expected to keep rates steady
Britain’s central bank looks set to keep interest rates steady. This is because, it approaches the end-point of its 895-billion-pound asset purchase program. They are casting a wary eye over surging inflation pressures. Investors will be keen to see if more Monetary Policy Committee (MPC) members join external member Michael Saunders. The BoE is ahead […]
Deutsche Bank snapped by Credit Suisse
According to a memo, the Credit Suisse has poached Deutsche Bank‘s Israel Fernandez to lead its financial institutions group (FIG) in Europe, the Middle East and Africa in tandem with Julien Lamm. Fernandez on Nov. 15 is taking his new role. Just like his predecessor Armando Rubio-Alvarez, he will be based in Madrid. He is a […]
Berlin based payment service for Deutsche Bank
Deutsche Bank in Germany has announced that it has acquired Berlin-based payment service provider Better Payment for an undisclosed amount. This deal is expected to help Deutsche Bank in expanding its market share in the online payment processing market. According to press reports, Deutsche Bank will integrate Better Payment’s technical solutions. Kilian Thalhammer is the […]
Electronic trading platform launched by National Bank of Fujairah
UAE-based National Bank of Fujairah (NBF) has launched its new electronic trading platform NBFX. Now, their customers can carry out financial transactions beyond the bank’s working hours and across all time zones. NBFX is available for both of National Bank of Fujairah’s conventional and Shariah-compliant banking customers. The chief executive of NBF Vince Cook told […]
Equities boom drives the franc, Swiss bank stands by
Stock market flows and overseas investment returns are emerging. This is because of the major drives for Switzerland’s currency in a shift. The Swiss National Bank (SNB) has intervened to prevent excessive franc appreciation. Last month as the franc rose to a nine-month high against the euro of 1.0694, there was no significant increase in […]
Accessible and affordable credit in the open banking
The long-term financial impact is beginning to materialize, as we move away from the pandemic. Borrowing provides a helpful financial buffer, but some can’t afford to borrow and yet cannot access mainstream credit. Even if an individual has the means to pay off a loan in time, some people are unfairly forced to accept high-cost, […]
COVID increasing money laundering risks
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging from the pandemic. This includes money-laundering and terrorism financing. The use of unlicensed money service providers for money laundering has increased during this pandemic, as per the report. And also, the use of e-commerce to launder money. It also stated that the widespread […]