Deposit rate slashed to 2.75%, its lowest since early 2023. The European Central Bank (ECB) on Thursday trimmed its three key interest rates by 25 basis points, meeting market forecast. This marked the fifth consecutive rate cut since the ECB initiated...
On annual basis, Europe's largest economy shrank 0.2% in last quarter of 2024, official data shows. Germany's economy contracted 0.2% in the last quarter of last year, compared to July-September, above market estimates of a 0.1% decline, according to Destatis...
German bank's net profits fell 36% last year to €2.7 billion, while revenues grew 4% compared to 2023. Deutsche Bank, one of Germany's top banks, posted net profits attributable to shareholders of €2.7 billion in 2024, new figures from the...
Annual growth reaches 2.8% in 2024 despite year-end deceleration. The US economy expanded by 2.3% in the fourth quarter of 2024, falling short of market expectations of 2.7%, according to the Commerce Department's first advance reading released Thursday. Consumer spending and...
Interest rate reductions are likely to be slower. Resilience, costs, and digital transformation are the top priorities of Hong Kong’s banking sector in 2025, as losses by banks and customers continue to make headlines, reports KPMG. Retail and commercial banks will...
Benchmark policy rate between 4.25% - 4.50%. The US Federal Reserve kept the benchmark policy rate at 4.25%-4.5% on Wednesday, as widely expected. The Fed said in a statement that recent indicators suggest economic activity has continued to expand at a...
Delta Capita has been selected by HSBC to deliver OTC derivatives confirmation and settlement services globally under a multi-year agreement. Under the agreement HSBC will deploy Delta capita's Infrastructure-as-a-Service (IaaS) model, a managed service supporting the core post-trade processing of...
Philippine and Singapore banks will be key beneficiaries if rates are higher. The interest rate decline in 2025 has the chance to be shallower than expected, which could benefit select banks in Southeast Asia, according to Fitch Ratings. Banks’ capacity to...
Bank cuts rate to 3% by 25 basis points in line with expectations. The Bank of Canada on Wednesday lowered its overnight policy interest rate by 25 basis points to 3% at the first monetary policy meeting of 2025. Deciding in...
It attributed this to the recovery of tourism and exports. Bangkok Bank and its subsidiaries reported a net profit of THB45.21b for 2024, 8.6% year-on-year (YoY) higher compared to the previous year, its latest financial results showed. In a statement posted...
