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The Latest Breaking News on Financial Services

HSBC Innovation Banking chair departs in latest boardroom reshuffle

The chair of HSBC Innovation Banking has stepped down in the latest sign of a boardroom reshuffle at the firm formerly known as Silicon Valley Bank UK.

Evening Standard

HSBC chief Noel Quinn to step down after ‘intense’ five years

Bank says it has started search for a successor as it reports quarterly profits beat forecasts

The Guardian - UK

Madras High Court refuses to interfere with merger of Lakshmi Vilas Bank with DBS India

Madras High Court refuses to interfere with RBI's decision to amalgamate Lakshmi Vilas Bank with DBS Bank India.

The Hindu

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Barclays accused of greenwashing over financing for Italian oil company

Exclusive: Environmental groups say bank is misleading public over ‘sustainable’ financing for Eni as company vastly expands fossil fuel production

The Guardian - UK

Issuance of LOCs at instance of public sector banks sans law is violation of fundamental rights: Bombay High Court

Bombay High Court deems Look Out Circulars by public sector banks against default borrowers without statute unconstitutional

The Hindu

UK consumers feeling more confident about finances, says NatWest boss

For first time since August 2021 people expect position to be better in a year, Paul Thwaite adds

The Guardian - UK

Barclays profits tumble 12% as UK interest rates hit mortgage demand

Pre-tax profits drop to £2.3bn between January and March, down from £2.6bn last year

The Guardian - UK

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JP Morgan CEO praises Modi, says he ‘took 400 million people out of poverty’

JP Morgan Chase CEO praises Prime Minister Modi for lifting 400 million out of poverty and implementing reforms in India.

The Hindu

RBI imposes business curbs on Kotak Bank for IT infra deficiency

RBI directs Kotak Mahindra Bank to stop new customer onboarding and credit card issuance due to IT compliance issues.

The Hindu

RBI Issues Master Direction for Asset Reconstruction Companies

The Reserve Bank of India (RBI) has issued Master Direction to the Asset Reconstruction Companies. Read further on Dynamite News:

Dynamite News

Lloyds profits fall as competition for mortgages heats up

Pre-tax profits drop to £1.6bn between January and March, down from £2.3bn last year

The Guardian - UK

Properties worth ₹55.73 crore of VMC Systems Limited attached by ED in bank fraud case

The Hindu

UK bankers warned of ‘severe losses’ if they fail to monitor private equity exposures

Bank of England executive says creeping sense of complacency and lack of data is putting lenders at risk

The Guardian - UK

Coventry Building Society makes £780m offer for Co-operative Bank

Tentative offer follows four months of talks and could create new banking group with almost 5m customers

The Guardian - UK

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Evening Standard

Nationwide's £2.9bn deal for Virgin Money must be stopped — members should sign up

City Voices: Give Nationwide Members a say on the purchase of Virgin Money

Newcastle Herald

New chair steering $20-billion Newcastle merged bank

The Hunter Valley local is a respected business leader.

Bored Panda

“Uncle, Are You Listening?”: Woman Wheels Pensioner’s Body Into Bank As Cosigner For A Loan

"I don't think this is legal. He doesn't look well. He's very pale." The post “Uncle, Are You Listening?”: Woman Wheels Pensioner’s Body Into Bank As Cosigner For A Loan first appeared on Bored Panda.

The Guardian - US

Brazilian woman arrested after taking corpse to sign bank loan: ‘She knew he was dead’

Shock in Brazil after woman is arrested and charged with violating a corpse and attempted theft through fraud

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news in one place.

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Newcastle Herald

Why big four bank CEO thinks Newcastle ticks more boxes than capital cities

'It's a part of the country that stacks up incredibly well.'

The Guardian - UK

Witnessing the sad decline of communities in County Durham

Letters: Readers lament the abandoning of Category D villages by the council and the lasting impact that has had

StockNews.com

PNC Financial (PNC) Earnings on the Horizon - Buy or Sell?

PNC Financial Services (PNC) is navigating a challenging landscape, which is evident from its underwhelming fourth-quarter performance due to regulatory charges and expenses related to layoffs. Given this outlook, would it be a wise move to invest in the company’s shares ahead of its fiscal 2024 first-quarter earnings? Read more…

StockNews.com

Bank of America (BAC) Braces for Earnings - Strategies for Investors

Bank of America (BAC), the second-largest U.S. lender, will publish its first-quarter earnings on April 16. With the bank’s net interest income expected to decline in the first quarter, should investors consider investing in the stock ahead of its earnings? Read on to learn my view.

The Hindu

PM Modi in Kerala: ‘Whatever development country has witnessed in last 10 years is just a trailer’

Prime Minister Modi promises to return seized bank funds in Kerala, criticizes opposition parties, and highlights BJP's development vision.

International Business Times

Solid Profits At Banks As Execs Debate US Economic Risks

Large American banks reported solid earnings Friday behind still-high interest rates while offering varying views on the likelihood the United States can avoid a near-term recession.

The Hindu

SBI refuses to disclose electoral bonds' details under RTI Act

SBI refuses to disclose electoral bond details under RTI Act, Supreme Court orders complete information to be published.

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