Bank
US banking sector profits drop 44% in Q4 as big firms cover failed bank costs
THE US banking sector saw its profits drop by nearly half in the last quarter of 2024, as large firms began paying hefty fees to help recoup costs incurred...
Bank of America joins rivals in predicting stronger investment banking revenue
BANK of America (BOA) expects its investment banking revenue to rise by 10 to 15 per cent in the first quarter from a year earlier, joining rivals who have...
Bank of America clinches record number of patents with AI, information security in focus
BANK of America (BOA) secured a record 644 United States patents in 2023, up 13 per cent from the previous year, as the lender focused on information security, artificial...
Deutsche Bank cuts investment bank bonuses more than 10%
DEUTSCHE Bank ut the bonus pool at its investment banking division by more than 10 per cent after a slump in deals and a slowdown in trading last year....
Bank Negara taking action to encourage flows into forex market
MALAYSIA’S government and central bank are taking coordinated action to further increase flows into the foreign exchange market to ensure the ringgit remains stable, Bank Negara Malaysia governor Abdul...
World Bank says Thai interest rates appropriate, neutral
THAILAND’S interest rate levels are appropriate for the current situation and are neutral, the World Bank said on Wednesday (Mar 6) at an event in Bangkok. The South-east Asian...
Philippine central bank governor rules out easing rates ‘soon’
THE Philippines’ central bank governor on Wednesday (Mar 6) ruled out rate cuts anytime soon due to upside inflation risks and signalled that borrowing costs will remain higher for...
UK digital bank Monzo valued at £4 billion after new funding round
BRITISH digital bank has raised £340 million (S$579.34 million) at a £4 billion valuation, the company said in a statement on Tuesday (Mar 5). The round was led by...
