Divide emerges as big banks cope with strained consumers. Canadian Imperial Bank of Commerce reported its third-quarter profit rose compared with a year ago as it set aside less money for bad loans, bucking a trend seen this quarter among...
China’s big four banks saw growth although NIMs fell. The market capitalization of the top 25 banks worldwide rose 5.4% quarter-on-quarter (QoQ) to $4.11t on the back of rising stock prices and a resilient US economy, reports GlobalData. Bullish investor sentiment...
Gains from the sale of its Canada and France businesses were offset by impairments. HSBC has earned $17.7b profit after tax in the first six months of 2024, 2% lower than in H1 2023, the bank’s latest interim results showed. Profit...
This is thanks to its non-interest income growing 28.4%. Maybank saw its profit after tax and minority interest (PATAMI) rise 9% year-on-year (YoY) to US$ 1.16 b in the first six months of 2024. Southeast Asia’s fourth largest bank by assets...
The bank’s wealth management arm earned more than a year earlier. Royal Bank of Canada reported a third-quarter profit of $4.49 billion, up from $3.86 billion a year earlier. The bank says its net income amounted to $3.09 per diluted share...
The bonds were priced at fixed rates of 2.75% and 3.10% per annum. DBS has priced Temasek’s 10-year (T2034-CNH) and 30-year (T2054-CNH) offshore CNY bonds under the US$25b Guaranteed Global Medium Term Note Programme. The 10-year tranche, T2034-CNH, valued at CNH1b...
The solar energy will be transported via a 4,300km subsea cable. Australia has approved SunCable's flagship Australia-Asia power link project (AAPowerLink), which will ship energy from a giant solar farm in Northern Australia to Singapore through a 4,300km subsea cable. The...
Chinese banks kept their benchmark lending rates unchanged for August, as profit margins come under pressure and policymakers focus on the health of financial institutions. The one-year loan prime rate (LPR) will stay at 3.35 per cent and the five-year...
It is the first South-east Asian bank to tap the People’s Bank of China’s carbon emission reduction facility programme. DBS in a tie-up with Envision Energy announced a 500 million yuan (US $70.5 million) green loan facility for the wind...
Consumers in Switzerland can now send and receive payments in seconds following the market launch of instant payments across the banking industry. Around 60 financial institutions are now able to receive and process instant payments, covering more than 95% of...
