HSBC Wants Hang Seng Bank to Address Poor Hong Kong Property Loans
HSBC Pushes Hang Seng Bank to Offload Real Estate Debt HSBC Holdings Plc is taking a significant step by getting directly involved with its Hong Kong subsidiary, Hang Seng Bank Ltd., to encourage the sale of its real estate debt portfolio, amid rising worries about the struggling real estate scene in the city. About two […]
BMO Plans to Divest Certain US Branches Following Bank of the West Purchase
Bank of Montreal (BMO) is reportedly considering the sale of some of its U.S. branches, particularly those in Wyoming and the Dakotas. According to a source cited by the Wall Street Journal (WSJ), banks often offload branches either individually or in groups, sometimes bundling loans with deposits. BMO has initiated this sales process, although reports […]
Central Bank Head Jerome Powell states the institution is facing difficulties
Jerome Powell Addresses Fed’s Challenges On Tuesday, Federal Reserve Chairman Jerome Powell described the current economic climate as “challenging,” citing ongoing risks of inflation potentially rising quicker than anticipated, while also noting some concerns about the labor market’s stability. Speaking to the Greater Providence Chamber of Commerce in Rhode Island, Powell didn’t provide clear guidance […]
City known for blue released ‘Burberry Bandit’ following five reported bank heists
Burberry Bandit Back on the Streets A man known as the “Burberry Bandit” in New York City has been released from prison after a series of bank robberies. Cornell Neely, 35, gained his nickname back in 2012, thanks to surveillance footage that showed him dressed in a plaid shirt resembling a luxury designer brand. Recently, […]
The CEO Aiming to Position Her Bank as the U.S. Connection to Central Asia
Washington, DC Umut Abakirova, after graduating from the University of Central Asia, began her career in finance as a loan officer. Fast forward twenty years, and she’s now a key figure in the financial landscape of Central Asia, serving as the CEO of Bakai Bank, which stands as one of the largest private lenders in […]
Court in Dhaka orders $81 million seizure from Philippine bank in BB reserve heist
Dhaka Court Orders Forfeiture of $81 Million from RCBC The Dhaka Court has mandated that $81 million be forfeited from the Rizal Commercial Bank Corporation (RCBC) in connection with a 2016 incident, as reported by the Criminal Investigation Division (CID) of Bangladesh Police. At a press conference on September 21, CID Chief MD Sibgat Ullah […]
Some are creating joint bank accounts to deepen their friendships.
Creative Ways to Maintain Strong Friendships One interesting suggestion for keeping friendships strong is the idea of setting up a joint bank account. This concept came to Madison Machen during a conversation with her seatmate on a flight to New York last year. The woman mentioned that her trip was funded through a joint account […]
Distressed assets in the banking sector increase to Tk11 lakh crore: City Bank MD
At the beginning of December last year, the country’s distressed assets of the banking sector stood at TK7.56 lakh. Highlights Of the TK18 lakh crore in outstanding loans, TK11 lakh crore is now seen as distressed assets Only 7-9 banks meet international standards; nearly 40 fall below par Due to governance failures, some banks could […]
Governor of the Bank of Guyana offers guidance to Azruddin Mohamed about closed bank accounts.
Guyana Bank Governor Urges Lawsuit Withdrawal Dr. Govind Ganga, the Governor of Guyana Bank, has advised businessman Azuldin Mohamed to withdraw legal actions against various commercial banks. This recommendation follows the closure of bank accounts belonging to several members of his political party. The governor suggested that Mr. Mohamed reconsider his lawsuit against these banks, […]
Burberry Bandit hits again, but a left-leaning NYC judge releases the repeat bank robber.
The so-called “Burberry Bandit” is back in the news after being arrested following a string of bank robberies over a decade. This week, five bank robbers were apprehended, but a notorious New York City judge ended up presiding over the case, even though it might not have been appropriate for him to do so. Cornell […]