Rajnish Kumar, chairman of the State Bank of India, the country’s largest lender, said the resurgence of the coronavirus jeopardizes reform of the financial system, the Financial Times (FT) reported. “If it were not for COVID, a bank like the State Bank of India would...
Charlotte, North Carolina-based Truist Financial Corp. on Thursday (July 16) became the latest bank to report some good news in its second-quarter results, but there is also a lot of evidence that the consumer-banking business is being pummeled by COVID-19. CEO Kelly King said he was...
JPMorgan Chase was the biggest saver of funds in an effort by banks around the world to get ahead of a spate of bad loans they believe is coming. The banks, combined, have set aside $66 billion for the prospect, which is likely due to...
The China Banking and Insurance Regulatory Commission (CBIRC) is issuing fines to banks at a record rate in an effort to combat increasing financial risk. Bloomberg, citing research by UBS, reported the CBIRC has issued 4 billion yuan — or $585 million — in fines since Chairman...
April 18, 2023
America’s biggest banks are downplaying a massive spike in write-offs of bad consumer loans. As Bloomberg News reported Tuesday (April 18), the four largest banks in the country wrote off $3.4 billion in bad loans during the first quarter of this year, a 73% jump from last year. Although record inflation has eaten away at […]
July 19, 2020
Rajnish Kumar, chairman of the State Bank of India, the country’s largest lender, said the resurgence of the coronavirus jeopardizes reform of the financial system, the Financial Times (FT) reported....
April 30, 2020
JPMorgan Chase was the biggest saver of funds in an effort by banks around the world to get ahead of a spate of bad loans they believe is coming. The...
September 07, 2018
The China Banking and Insurance Regulatory Commission (CBIRC) is issuing fines to banks at a record rate in an effort to combat increasing financial risk. Bloomberg, citing research by UBS, reported...
