Bank

How Banks Can Compete Against an Army of Fintech Startups

It’s been more than 25 years since Bill Gates dismissed retail banks as “dinosaurs,” but the statement may be as true today as it was then. Banking for small and medium-sized enterprises (SMEs) has been astonishingly unaffected by the rise of the Internet. To the extent that banks have digitized, they have focused on the most routine customer transactions, like ... Read More »

Public sector bank merger healthy for banking system RBIs Urjit Patel

New York: RBI governor Urjit Patel has said the Indian banking system could be better off if some public sector banks are consolidated to have fewer but healthier entities, as it would help in dealing with the problem of stressed assets. “As many have pointed out, it is not clear that we need so many public sector banks. The system ... Read More »

RBS Why we should be angry at the Chancellor’s willingness to sell the taxpayer’s stake at a loss

Philip Hammond’s policy on Royal Bank of Scotland resembles that of a market trader with perishable goods to dispose of at the end of the day. Roll up, roll up. I’ve got a bank ’ere going cheap. Half price and three for two. Take this off my hands! It’s got to go! He didn’t quite put it that way when ... Read More »

Yes Bank shares fall nearly 4% on rising bad loan provisions

The fall in Yes Bank shares on Thursday was the maximum in five months. Photo: Bloomberg Mumbai: Shares of Yes Bank Ltd on Thursday fell as much as 6.5%, its steepest fall in five months, after the company reported a sharp rise in its bad loan provisions, following Reserve bank of India’s new asset quality rules and exposure to Jaiprakash ... Read More »

Libor rigging chancellor urged to call inquiry into Bank of England allegations

John McDonnell, the shadow chancellor, is calling on Philip Hammond to hold an urgent public inquiry into whether Bank of England officials colluded in the rigging of the Libor rate. The senior Labour politician said Hammond’s silence on the issue was unacceptable after a BBC Panorama programme said it had evidence of pressure exerted by Threadneedle Street on the setting ... Read More »

US government ‘hacked global bank system’

The NSA is facing criticism for not sharing details of the security flaws with Microsoft A huge range of security exploits, said to be worth over $2m if sold on the black market, have been leaked online. The tools are said to have been created by the US National Security Agency (NSA), and accompanying documents appear to indicate a possible ... Read More »

Smita Sandhane takes charge as MD, Saraswat Co-operative Bank

MUMBAI, APRIL 7:   Saraswat Co-operative Bank on Saturday said Smita Sandhane has taken charge as Managing Director of the bank with effect from April 1. She is the first woman chief of India’s largest urban co-operative bank. Prior to her elevation, Sandhane was the Joint Managing Director of the bank. She has been with the bank since 1982. Sandhane has ... Read More »

Bank Reform Architect Puzzled by Effort to Undo It

Former Representative Barney Frank in his driveway in Ogunquit, Me. CreditGreg Miller for The New York Times Barney Frank is puzzled. The former Massachusetts congressman says that President Trump is vowing to roll back financial regulations that even some of the biggest players in the banking industry have quietly come to tolerate. Many Americans — outside the financial industry — ... Read More »

New Firms Catching Up to Banks in Foreclosure Rankings

A foreclosed home in Las Vegas in 2016. The number of home foreclosures is down sharply from the depths of the financial crisis. CreditMax Whittaker for The New York Times The number of home foreclosures is down sharply from the depths of the financial crisis, even as many of the mortgage firms involved remain the same, including Fannie Mae, Wells ... Read More »

Episode 761: The Bank War

A note from the Second Bank of the United States. Museum of American Finance, NYC Banks and governments have been fighting each other for hundreds of years, but never more dramatically than during the showdown between President Andrew Jackson and Nicholas Biddle, the president of the Second Bank of the United States. Jackson was a populist, who rode to victory ... Read More »