All articles by Refna Tharayil
Refna Tharayil
CBA and BNY deliver near real-time cross-border payments
Through the new arrangement, BNY commercial payments from overseas to businesses and individuals with Australian bank accounts will now be available to the final beneficiary in under a minute, 24 hours a day, seven days a week
Deutsche Bank settles with over 80 plaintiffs in Postbank litigation
The substantial progress in its negotiations with plaintiffs so far will utilise around 45% of the total provisions set aside for the specific claims by plaintiffs, with the remaining provisions to be released
Tether to develop UAE Dirham-pegged stablecoin
Set to be launched in collaboration with UAE’s multi-billion dollar tech conglomerate, Phoenix Group PLC, and with support from Green Acorn Investments Ltd, the Dirham-pegged token joins Tether’s slate of stablecoin products that include USDt, EURT, CNHT, MXNT, XAUT and aUSDT
HSBC likely to divest South African operations to focus on Asian markets
The bank’s South African business,which operates as a branch of its British division, provides commercial and investment banking services without offering personal or retail banking
Wells Fargo enters into agreement with Trimont to sell non-agency third-party servicing segment of commercial mortgage servicing business
The transaction is expected to close in early 2025, subject to satisfaction of customary closing conditions
Bitwise snaps up physical bitcoin ETP issuer ETC Group
Through the acquisition, Bitwise will expand into Europe and add nine European-listed crypto ETPs to the company’s portfolio of ETPs, hedge fund solutions, and separately managed accounts
National Bank of Egypt collaborates with Mastercard to issue Egypt’s first touch card empowering visually impaired customers
To increase access to financial services, NBE has appointed 100 visually impaired employees and trained 400 staff members in sign language across 230 branches
Westpac reports steady net profit of $1.2bn in Q3 2024
The net interest margin of the Australian banking and financial services company for the reported quarter was 1.92%, compared to 2.06% in Q3 2023
Morrow Bank acquires Lunar Bank´s Swedish consumer loan portfolio
This transaction is in line with the Morrow Bank´s communicated strategy to pursue structural opportunities to drive growth and accelerate value creation
Swiss lender UBS reports 96% drop in Q2 2024 net profit to $1.14bn
The sharp drop is mainly attributed to the absence of the substantial negative goodwill gain from the Credit Suisse acquisition that boosted last year’s results