Banks general
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
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
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
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
RBI hikes policy repo rate by 50 bps to 5.40%
05 Aug 2022
The latest hike, the third since May this year, after the 40 bps and 50 bps hikes announced in May and June, respectively, may not be the last, according to indications
Australia's ANZ to buy Suncorp’s banking arm for $3.3 billion
20 Jul 2022
The acquisition will boost ANZ's retail presence in a fast-growing domestic Queensland region and increase its assets in mortgages by nearly a fifth, helping it to overtake National Australia Bank Ltd (NAB) for third spot in the business
RBI sets up rupee payment mechanism for global trade
18 Jul 2022
The rupee payment mechanism is intended to promote growth of exports from India and to support the increasing interest of global trading community in the Indian currency, RBI stated
RBI hikes repo rate by 50 bps to 4.90% as inflation starts to bite
08 Jun 2022
RBI said it would remain focused on withdrawal of an accommodative monetary policy to ensure that inflation remains within the target going forward, while supporting growth