International Banking News
South Korea central bank surprises with rate cut, likely to loosen again

– South Korea’s central bank delivered a surprise interest rate cut on Thursday, and shaved this year’s growth forecast to the lowest in a decade, as a brewing dispute with Japan piled more pressure on the trade-dependent economy. The Bank of Korea is not alone in adopting easier monetary policy, taking into account the dovish stance of global central banks and deteriorating economic conditions. Asia’s fourth-largest economy has stuttered in the past few quarters due to slowing demand and rising… (Continua a leggere)

Some international banks are finally seeing their China investments pay off

As China cracks open the door further to its massive financial market, a handful of foreign firms are pulling ahead of the pack. UBS, Invesco and J.P. Morgan topped Shanghai-based Z-Ben Advisors’ annual rankings released Monday for the 25 best foreign money managers in China. Data was collected as of December 2018, and scored firms by three business lines: onshore, outbound and inbound. For UBS, it was the second year the Switzerland-based asset manager ranked first. The company has been investing in China for 20 years and has… (Continua a leggere)

Banca Cis, provvedimento giudiziario per l’ad Daniele Guidi

L’istituto di credito in un comunicato ribadisce la piena operatività dell’istituto, sotto la supervisione di Bcsm SAN MARINO. «Banca Cis, in relazione al provvedimento giudiziario che ha interessato il dottor Daniele Guidi comunica di aver prontamente convocato il consiglio di amministrazione per la giornata di domani (oggi per chi legge, ndr), al fine di assumere tutte le decisioni conseguenti». Inizia così la breve nota inviata dall’istituto di credito alla propria clientela; dopo una giornata iniziata con gli agenti di Polizia… (Continua a leggere)

Belgium accused of mishandling billions of dictator Gadaffi's assets

An investigation is underway into the billions of euros missing from Belgian banks that belonged to the late Libyan strongman Muammar Gaddafi. This comes after Belgian authorities were accused of paying out interest and dividends on Libyan frozen bank accounts. Belgium is now under fire to explain why unknown recipients received millions of euros from these frozen accounts in Brussels. “UN documents confirm that Belgium failed to comply with a UN resolution on freezing Libyan assets,” Belgian member of parliament… (Continua a leggere)

Swiss bank UBS says 'business as usual' in China

Swiss banking giant UBS said Tuesday it was “business as usual” in China following reports that the company restricted travel there as an employee had to delay her return home after being asked to meet with authorities. The wealth manager, who focuses on China, delayed her return from Beijing to Singapore last week after she was asked to meet with local officials on an unknown matter, Bloomberg News reported, citing a personal familiar with the issue. News reports said the incident prompted UBS… (Continua a leggere)

Danske, la Russia e il riciclaggio: la banca che fa crollare il mito danese

Nemmeno la Danimarca è immune agli scandali finanziari. Danske, prima banca del Paese, è sotto inchiesta per riciclaggio. Un clamoroso avvertimento per l’Europa «L’opinione pubblica è scioccata dal fatto che la più importante banca danese sia stata coinvolta nel riciclaggio di denaro per conto della criminalità organizzata e di regimi dittatoriali». Rispondendo alle domande di Valori, Pelle Dragsted, deputato della sinistra ecologista al parlamento di Copenhagen, non usa mezzi termini. Danske Bank, principale istituto del Paese, è nell’occhio del ciclone… (Continua a leggere)

Banca Centrale: i dati del sistema al 31 marzo 2018

Ancora in calo la raccolta del risparmio e quella indiretta che al 31 marzo 2018 tocca quota 5 miliardi e 710 milioni di euro, circa 70 milioni in meno rispetto al 31 dicembre scorso San Marino. La Banca Centrale della Repubblica di San Marino ha diffuso nei giorni scorsi i dati trimestrali del sistema bancario sammarinese, i primi per quanto riguarda il 2018. Ancora in calo la raccolta del risparmio e quella indiretta che al 31 marzo 2018 tocca quota… (Continua a leggere)

How parliament can reform its ailing public sector banks

India needs a strategy to get the government out of banking. Non-performing loans among state-owned banks — a legacy of India’s socialist past which account for nearly 70 percent of deposits — have crossed 5 percent of GDP. The central bank has restricted lending at 11 of them and forced one, IDBI Bank Ltd., to sell itself to the government-owned Life Insurance Corporation of India. State banks have repeatedly been a burden on the exchequer and will almost certainly continue… (Continua a leggere)

SoftBank's Son says Japan is 'stupid' for not allowing ride-sharing

TOKYO  – SoftBank Group Corp Chief Executive Masayoshi Son slammed on Thursday the Japanese government’s ride-sharing ban and said the country had fallen behind overseas rivals in areas such as artificial intelligence and fintech. “Ride-sharing is prohibited by law in Japan. I can’t believe there is still such a stupid country,” said Son at an annual company event aimed at customers and suppliers. The comments reflect Son’s frustration with Japan where he built the cash engine that has powered his… (Continua a leggere)

BofA profit beats estimates on higher interest rates, loan growth

By Sweta Singh and Elizabeth Dilts (Reuters) – Bank of America (BAC.N) reported a 34 percent rise in first-quarter profit on Monday, topping Wall Street estimates, as the lender benefited from higher interest rates and growth in loans and deposits. Revenue rose at three of BofA’s four major businesses. In consumer banking, its biggest business, revenue increased 9 percent as higher interest rates helped BofA charge more for loans while keeping deposit rates low. Profit also got a boost from Chief… (Continua a leggere)