After 18 quarters of losses, Indian Overseas Bank posts profit in Q4FY20

Indian Overseas Bank (IOB) on Thursday reported a net profit of Rs 144 crore for the fourth quarter of FY20, after making losses continuously for the last 18 quarters. The lender had reported a net loss at Rs 1,985.16 crore during corresponding quarter previous year.The public sector lender hopes to come out of the prompt […]

Deutsche Bank hit with $150 million penalty for relationship with Jeffrey Epstein

Those transactions included payments to individuals who were publicly alleged to have been Epstein’s “co-conspirators in sexually abusing young women” as well as settlements totaling more than $7 million and payments to law firms of more than $6 million for what appear to have been the legal expenses of Epstein and his co-conspirators.

Coronavirus, Industry 4.0 boost online banking

Data also shows the total number of electronic transactions up 81.32% in volume and 145.32% in value in the first 3 months of 2020. More notably, interbank transaction values up 8.85% year-on-year in the first 20 days of April 2020, when social distancing policies were in place.

Cash pilgrims and bricks of money: HSBC Swiss bank operated like cash machine for rich clients

The bank said he wanted “to have someone who would bring cash to him in the UK. He is not interested in the service that we could possibly provide him at HSBC Premier in Knightsbridge, as he would have to identify himself by passport! He said, ‘I do know banks in your part of the […]

Stocks in the news: RIL, Asian Paints, IOC, Adani Power, Ujjivan Financial and YES Bank

Nifty futures on the Singapore Exchange traded 3.50 points, or 0.03 per cent lower at 10,481.50, in signs that Dalal Street was headed for a muted start on Wednesday.Here are a few stocks which may buzz the most in today’s trade: Reliance Industries: Oil-to-telecom conglomerate RIL is working to complete the contours of a strategic […]

Stocks in the news: Vodafone Idea, Axis Bank, Tata Steel, ONGC and Aditya Birla Fashion

Nifty futures on the Singapore Exchange traded 76.50 points, or 0.75 per cent higher at 10,323.50, in signs that Dalal Street was headed for a positive start on Tuesday. Here are a few stocks which may buzz the most in today’s trade: Vodafone Idea, ONGC: Bajaj Healthcare, Cera Sanitaryware, Cupid, Deepak Fertilisers, Goa Carbon, Hindustan […]

African Development Bank joins other multilateral banks to support trade finance

A further decline in trade finance supply would, in the short term, make it harder for imports of food and medical equipment to reach economies where they are urgently needed. In the medium term, it would impede the ability of trade to help drive economic recovery.

India’s records marginal current account surplus of 0.1% of GDP in Q4 FY20

The central bank, in its preliminary data released on India’s balance of payments (BoP) for Q4FY20, noted that “private transfer receipts, mainly representing remittances by Indians employed overseas, increased to $20.6 billion, up by 14.8 percent from their level a year ago.”

Accuity Helps Leading Banks in Pakistan Stay Ahead of Global Regulatory Requirements

Sindh Bank Limited is a government-owned Pakistani scheduled bank with 330 branches in 169 cities nationwide. To effectively manage its AML and CFT compliance checks, identify politically exposed persons (PEP), and deter proscribed persons from engaging in illicit financial activities, the bank adopted Firco Compliance Link and Firco Global WatchList® solutions to demonstrate enhanced screening […]

Three back-to-back senior level exits put spotlight back on Dhanlaxmi Bank’s endless Boardroom tussle

The letter started on professional competency: “I have lost faith in the capacity of this management and its ethos…  I wonder why the initiatives approved by the Board and the several suggestions and admonitions of the RBI have repeatedly failed to yield the desired results. I am shocked by the abysmal lack of grace in […]