Bank continues recovery from anti-money laundering charges. TD Bank Group swung to a profit in its latest quarter compared to last year as it continues to restructure and recover from anti-money laundering failures. “This quarter, we made significant progress on our...
Jump in profits beats expectations as revenue also rises. CIBC reported a jump in profits that beat analyst expectations as its outgoing chief executive said thebankis well positioned to weather macroeconomic volatility ahead. “We’re moving ourbankforward, even as the operating environment...
Direct lending has exploded in recent years, boosting competition and putting pressure on pricing. The growth of private credit has been largely driven by direct lending’s ability to replace bank debt, having grown substantially over the past 15 years. Direct...
BlackRock paused fundraising for its latest Asian private credit strategy earlier this year, according to a report by Bloomberg. Bloomberg said people familiar with the matter said fundraising for the firm’s third Asia-Pacific private credit fund came to a standstill...
The direct impact of tariffs on the banking sector should be manageable, S&P said. Vietnam’s financial institutions are expected to become more resilient to future downturns, as the country is expected to maintain its above average economic growth. Vietnam’s economy is...
Adjusted earnings hit $3.23 a share, topping forecasts. Executives at BMO Financial Group say the economic outlook in Canada and the U.S. is becoming steadier, but the bank is still bracing for trade and geopolitical fluctuations in the months ahead. “Early...
Adjusted earnings climb to $1.88 a share, topping analyst forecasts. The Bank of Nova Scotia reported a third-quarter profit of $2.53 billion, up from $1.91 billion a year ago. The bank says the profit amounted to $1.84 per diluted share for...
Chinese copper flat wire manufacturer Wellascent’s decision early last year to build a factory in Texas was a hedge against geopolitical risks. Now the investment is paying off as US import tariffs boost demand for its locally produced goods. The...
Fitch affirmed the US credit rating at "AA+", highlighting concerns over rising debt levels while also citing the country's large, high-income economy, and its financing flexibility due to the dollar's role as global reserve currency. High fiscal deficits and increasing...
Singapore's OCBC has established a US$1 billion digital US commercial paper programme using blockchain technology. OCBC says the programme unlocks near-instantaneous short-term US dollar funding capabilities. This near-instant settlement is made possible by tokenised securities and funds being on-chain, enabling...
