Canadian commercial banking and wealth management segment posted a net income of $549M. CIBC reported a second-quarter profit of $2 billion, up from $1.8 billion in the same quarter last year. Revenue totalled $7 billion, up from $6.2 billion. The higher...
Euroclear and Singapore’s Marketnode announced the integration of their respective fund systems, FundsPlace and Fundnode. It follows an investment by Euroclear in Marketnode last year, joining early backers HSBC, SGX and Temasek. Fundnode is a blockchain-based fund settlement infrastructure...
They expect to continue to grow in the markets they operate. Maybank reported a net profit of $614.25m (MYR2.59b) for Q1 2025, a 4% year-on-year rise, according to its latest financial report. Net operating income rose 1.8% to $1.8b (MYR7.71b), according...
New Zealand's central bank cut its benchmark rate by 25 basis points to 3.25% on Wednesday and flagged a slightly deeper easing cycle than it forecast three months ago, underlining the rising economic risks from a sharp shift in...
Banks provide credit facility expansion to fund Accu-Fab deal targeting high-growth data center markets. Mayville Engineering Company has announced a definitive agreement to acquire Accu-Fab, LLC from strategic holding company Tide Rock for $140.5 million, with Wells Fargo and JPMorgan...
China’s central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US. The...
Germany overtakes Japan's position of top creditor despite Japan's external assets hitting all-time high. Japan has lost its long-held title as the world’s largest creditor nation for the first time in 34 years, falling behind Germany despite posting record-high net...
Kuwait has retained its ‘A+’ long-term credit rating from S&P Global, with a stable outlook, supported by one of the world’s strongest sovereign asset positions despite mounting fiscal pressures. In its latest report, the US-based agency stated that it expects...
Trade disruptions weighing on the economic outlook, and specific sectors’ prospects. After enjoying a reprieve in April, global corporate defaults are expected to rise again in May, says Moody’s Ratings. In a new report, the rating agency said that it expects...
AUM in its global wealth management segment rose 9% year over year to $380B. Cautious borrowers and a worsening economic outlook pushed Scotiabank earnings slightly down in the second quarter from last year as the bank put aside more money...
