Global Banking Monitor

Sunday, May 28, 2023

SVB’s primary debtor in Canada revealed as Romanow’s tech finance firm

The bankruptcy liquidator in charge of Silicon...

German growth outlook deteriorates, impacting the global economy

Germany suffered its first recession since the...

Headline Feature

Apple extends their FinTech ecosystem with 4.15% APR Savings account

Apple's FinTech domination plans are continuing! It's incredibly exciting to watch how they are positioning their selection of products and services, especially when it comes to what language they use. For example, the press release makes use of the phrase 'savings account'. That's perhaps some of the closest 'bank' language we've seen from Apple, ever. Oh, of course they've...

In our newly launched Digital Transformer 2023 section, we are profiling the experts shaping the GCC banking industry this year. Read more.

Latest News

SVB’s primary debtor in Canada revealed as Romanow’s tech finance firm

The bankruptcy liquidator in charge of Silicon Valley Bank’s Canadian unit is set to receive offers for its loan book on Monday, and the biggest asset is a loan to e-commerce lender Clear...

Central banker calls for wage restraint in Iceland to slow down inflationary trends

Iceland’s labor market parties must rein in wage growth to help slow interest rate hikes, according to the central banker in charge of western Europe’s most aggressive monetary tightening campaign. “We are a country...

ECB reaches a significant stage of rate tightening, says Makhlouf

The European Central Bank is in the final stretch of its historic cycle of interest-rate increases, according to Governing Council member Gabriel Makhlouf. “Given our current outlook for inflation, we are likely to be close to...

Featured Articles

Apple Financing: It’s actually happening

This is an opinion post by our Analyst team. First, let's have a stream of consciousness from the banking market: For years now, every technology presentation to the executive team or board of a...

Bryan Carroll steps down as CEO of Vietnam’s TNEX...

Bryan Carroll today announced that he is stepping down as CEO of Vietnam's TNEX digital bank. He posted the news directly on his LinkedIn feed earlier today and indicated he will resign his position...

The West Coast emerges as a prominent epicenter of bank turmoil in 2023

One half of the country is experiencing the banking turmoil of 2023 quite differently than the other half. Three of the four banks that collapsed so far this year were in one state: California. Two of them were headquartered roughly 45 miles apart in San Francisco and Santa Clara. The other regional banks under the most scrutiny from investors in 2023 are also clustered near the West Coast. Stocks of PacWest (PACW), Western Alliance (WAL), Zions (ZION) and HomeStreet (HMST) – mid-sized lenders based in Beverly Hills, Calif., Phoenix, Salt Lake City and Seattle – are down between 40% and 79% year to date. Read More : The West Coast emerges as...

Events & Conferences Spotlight

Dubai Fintech Summit 2023

http://www.dubaifintechsummit.com The Dubai FinTech Summit 2023 will set a global benchmark for the way enterprises...

Check out other categories:

China’s industrial profits suffer an 18% decline in April due to sluggish demand

Profits at China's industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. Profits fell 20.6% in January-April from a year earlier, compared with...

India central bank likely to reduce rates by end of financial year, predicts Kotak Bank treasury chief

The Reserve Bank of India (RBI) may cut interest rates only towards the end of the financial year despite a moderating inflation, Kotak Mahindra Bank's treasury chief said. "Inflation has come down, but core is not coming down that much. Some of it is base...

Former BOE hawks predict UK interest rates to reach the “pain level” of 6%

Hawkish former Bank of England rate-setters warned that interest rates will need to soar as high as 6% to stamp out inflation, a level the central bank has identified as painful for households...

Investors foresee increased interest rates amidst growing inflationary pressures

Stronger than expected US inflation and a bump in consumer spending have fuelled worldwide expectations that interest rates will...

Treasury Secretary Yellen sets June 5 as final day to raise debt ceiling

U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government...

Inflation heats up in April, prompting Fed to face critical questions

Inflation ran hotter than expected in April, coming in above expectations, according to a measure followed closely by the...

Latest Awards from Global Banking Monitor

National Bank of Kuwait: Best App Update, 2023

29th March 2023, Dubai: We've been closely following the...

Alizz Islamic Bank: Best Digital UX, 2023

29th March 2023, Dubai: We return to Oman this...

QNB: Best New Mobile Banking Experience, 2023

29th March 2023, Dubai: Earlier this month the team...

RAKBANK: Best Digital SME onboarding, 2023

16th March 2023, Dubai: We are continuing our awards...

Latest Opinion

Data is the new oil… well, ok, not yet.

This is an opinion post by Ewan MacLeod, originally...

Apple Financing: It’s actually happening

This is an opinion post by our Analyst team....

UBS to buy Credit Suisse for $2bn (Maybe) [Updated]

This is an opinion piece by our Analyst Team. Update...

The Banking Run: Can’t we all just relax a bit now?

This is an opinion piece by our Analyst Team. So...

More News

Climate change projected to fuel inflation in the next decade, warns ECB

Climate change will increase global inflation by as much...

Credit Suisse Directed to Pay $926 Million in Georgia Prime Minister Case

Credit Suisse CSGN.Shas been ordered to pay $926 million...

Reuters Poll: Kenya’s Central Bank to Keep Rates Unchanged at 9.50% on May 29

Kenya's central bank will hold interest rates at 9.50%...

Tokyo Inflation Decelerates, Aligning with BOJ’s Current Price Outlook

Inflation in Tokyo slowed in May, an outcome that offers support for the Bank of Japan’s view that price gains will slow toward the...

Fed Interventions Gain Spotlight as US Faces Impending Debt Deadline and Default Risk

Evidence that Federal Reserve policymakers recently discussed potential interventions in markets after any default by the US Treasury is reviving analysis of the central...

Bank Borrowings from the Federal Reserve Remain Stable, Showing Little Change Compared to Last Week

Borrowing from the Federal Reserve’s backstop liquidity facilities were little changed last week, even as strains in the banking sector remain in focus. The US...

JPMorgan Enters the AI Space with Development of ChatGPT-like Platform for Investment Guidance

JPMorgan Chase is developing a ChatGPT-like software service that leans on a disruptive form of artificial intelligence to select investments for customers, CNBC has...

Chinese Yuan Bounces Back as State Banks Sell Dollars to Provide Support

China’s yuan rebounded from a near six-month low against the dollar on Friday, as some major state-owned banks sold the US currency to prevent...

Lebanon Receives $300 Million Funding Boost from the World Bank

The World Bank will dispatch $300 million in additional financing for the most vulnerable families in Lebanon, a country mired in what the lender...

Hungary’s Central Bank Makes Adjustments to Required Reserve System

Hungary's central bank has decided to make changes to commercial banks' required reserve system, shifting to a monthly average calculation basis from daily balance...

Brazilian Central Bank Chief Sees New Fiscal Bill as Positive Signal for Inflation

Brazilian central bank chief Roberto Campos Neto said on Thursday that a fiscal framework bill approved a day earlier by the country's lower house...

IMF Urges US to Adopt Stricter Fiscal Measures to Combat Ongoing Inflation

The International Monetary Fund said on Friday U.S. interest rates will likely need to remain higher for longer to tame inflation, and Washington needs...

IMF Calls on US to Increase or Suspend Debt Cap, Warns of Avoidable Risks

The International Monetary Fund urged the US to immediately raise or suspend its debt limit, and warned that getting “stubbornly high” inflation back to...

Doubts Arise Over Fed’s Decision to Pause Rate Hikes Amidst Strong US Data

Federal Reserve policymakers got a dose of unexpectedly strong U.S. economic data on Friday that bolstered the case for further monetary policy tightening to...

Expectations of Bank of England’s Base Rate Soaring to 5.5% Next Year Fuel Escalation in Mortgage Costs

Britain's largest building society has made some mortgages more expensive as the Bank of England's interest rate is now expected to rise higher than...

Japanese Banks Confront Heightened Credit Risk due to Accelerated Transition Financing

Japanese lenders' plans to step up support for the government's climate goals expose them to greater credit risks, as such funding could put them...

First Republic Banker Earns $35 Million, Outpacing JPMorgan’s Dimon Prior to Financial Crisis

First Republic Bank made its name catering to wealthy clients across California and New York, reeling in many with unusually sweet mortgages that eventually...

EU Approves UBS’ Acquisition of Troubled Credit Suisse

The Swiss government-brokered sale of Credit Suisse Group AG to UBS Group AG won European Union approval after regulators said the deal wouldn’t raise...

Follow our Global Banking Monitor LinkedIn Page

Banking Headlines

Markets Headlines