BANKING & FINANCE 8/63

FDIC Chief To Resign Over Toxic Workplace Culture: White House

By The Financial District

May 221 min read

FDIC Chief To Resign Over Toxic Workplace Culture: White House

The White House has stated that the chairman of the Federal Deposit Insurance Corporation will step down, a departure that follows the...

U.S. Nabs Two Chinese In $73-M Crypto Scam

By The Financial District

May 221 min read

U.S. Nabs Two Chinese In $73-M Crypto Scam

US authorities have charged two Chinese nationals in a cryptocurrency scam that laundered at least $73 million from defrauded victims.

Security Bank Net Income Surges 71% Quarter-on-Quarter to PHP2.6 Billion In Q1-2024

By Reggie Vizmanos

May 162 min read

Security Bank Net Income Surges 71% Quarter-on-Quarter to PHP2.6 Billion In Q1-2024

Security Bank Corporation, a private domestic universal bank, posted a net profit of PHP2.6 billion in the first quarter of 2024, marking..

Calls Mount For FDIC Chair To Quit After Scathing Report

By The Financial District

May 141 min read

Calls Mount For FDIC Chair To Quit After Scathing Report

Martin Gruenberg, the chair of the Federal Deposit Insurance Corp. (FDIC), is facing a barrage of calls from lawmakers to resign after...

UK Startup Secures $1 Billion For Self-Driving Car Tech

By The Financial District

May 91 min read

UK Startup Secures $1 Billion For Self-Driving Car Tech

A UK firm developing artificial intelligence (AI) technology for self-driving cars has raised $1.05 billion (£840 million) in funding.

South Korea Discovers Illegal Stock Short Sales By 9 Banks

By The Financial District

May 71 min read

South Korea Discovers Illegal Stock Short Sales By 9 Banks

South Korea's financial watchdog has disclosed the uncovering of breaches in short-selling rules by seven additional banks operating in...

By The Financial District

May 62 min read

BillEase Launches QRPh Integration

BillEase, a leading consumer finance app in the Philippines, has announced its integration with QRPh, the country's national QR code...

PNB Reports PHP5.3 Billion Net Income In 1st Quarter Of 2024

By Reggie Vizmanos

May 32 min read

PNB Reports PHP5.3 Billion Net Income In 1st Quarter Of 2024

Philippine National Bank (PNB) has announced a net income of PHP5.3 billion for the first three months of 2024, marking a notable 10%...

Metrobank's Net Income Surges 14% To PHP12 Billion In Q1 2024

By Reggie Vizmanos

May 22 min read

Metrobank's Net Income Surges 14% To PHP12 Billion In Q1 2024

Metrobank, recognized as the Philippines' second-largest private universal bank, has announced a notable increase in net income to PHP12.0..

EBRD Invests In Mongolia's Public Health Sector

By The Financial District

Apr 302 min read

EBRD Invests In Mongolia's Public Health Sector

The European Bank for Reconstruction and Development (EBRD) is investing in Mongolia’s public healthcare sector by extending a sovereign...

Higala Pioneers Inclusive Payments In PH

By The Financial District

Apr 302 min read

Higala Pioneers Inclusive Payments In PH

The Philippines' financial landscape is on the brink of a major transformation as Talino Venture Studios and Chemonics International join...

World Bank's Investment Boosts RP Fintech Firm Salmon Group Ltd

By The Financial District

Apr 292 min read

World Bank's Investment Boosts RP Fintech Firm Salmon Group Ltd

The World Bank Group's International Finance Corporation (IFC) has made a significant investment of $7 million in the Philippines' fintech..

UnionBank's First Quarter Net Income Soars To PHP2 Billion, Driven By Digital Innovation

By The Financial District

Apr 292 min read

UnionBank's First Quarter Net Income Soars To PHP2 Billion, Driven By Digital Innovation

Union Bank of the Philippines, a trailblazer in digital banking, has reported a remarkable surge in net income, reaching PHP2 billion for...

Vigan, Ilocos Sur Embraces Paleng-QR Program For Digital Payments

By The Financial District

Apr 292 min read

Vigan, Ilocos Sur Embraces Paleng-QR Program For Digital Payments

In a concerted effort to advance digital payments and financial inclusion, the Province of Ilocos Sur and the City of Vigan officially...

Deutsche Bank Sees 11-Year High Quarterly Profit

By The Financial District

Apr 291 min read

Deutsche Bank Sees 11-Year High Quarterly Profit

Germany’s largest lender announces €1.45 billion net income for the first three months of the year.

ADB And Buskowitz Ink $12 Million Deal For Solar Rooftop Projects In The Philippines

By The Financial District

Apr 292 min read

ADB And Buskowitz Ink $12 Million Deal For Solar Rooftop Projects In The Philippines

The Asian Development Bank (ADB) and Buskowitz Solar Inc., a subsidiary of Buskowitz Energy Inc., have signed a $12 million agreement to...

U.S. Seizes Troubled Lender Republic First, Sells It To Fulton Bank

By The Financial District

Apr 281 min read

U.S. Seizes Troubled Lender Republic First, Sells It To Fulton Bank

US regulators have taken control of Republic First Bancorp and reached an agreement to sell it to Fulton Bank.

DBM Says Gov't Can Tap PHP15-B Disaster Relief Fund To Combat El Niño

By The Financial District

Apr 272 min read

DBM Says Gov't Can Tap PHP15-B Disaster Relief Fund To Combat El Niño

The national government could tap the remaining PHP15.507 billion under the National Disaster Risk Reduction and Management Fund (NDRRMF)...

Dalio’s Risk-Parity Trade Loses Allure Among Investors

By The Financial District

Apr 251 min read

Dalio’s Risk-Parity Trade Loses Allure Among Investors

It was an irresistible pitch. Give us your money, executives at Ray Dalio’s Bridgewater Associates and other hedge funds said, and we’ll...

UBS Gets Backing For Capital Plan From Norway Wealth Fund

By The Financial District

Apr 251 min read

UBS Gets Backing For Capital Plan From Norway Wealth Fund

Norway's sovereign wealth fund has supported UBS' plan to enhance the attractiveness of its Additional Tier 1 (AT1) bonds, a form of debt...

Biden Marks Earth Day With $7-B In Solar Power Grants

By The Financial District

Apr 241 min read

Biden Marks Earth Day With $7-B In Solar Power Grants

President Joe Biden is marking Earth Day by announcing $7 billion in federal grants for residential solar projects serving 900,000-plus...

Pomelo Boost’s Credit-Building Remittance Services

By The Financial District

Apr 233 min read

Pomelo Boost’s Credit-Building Remittance Services

Pomelo, the first consumer fintech platform that combines international money movement with consumer credit, has announced a major...

Multilateral Development Banks Eye Lending $400 Billion

By The Financial District

Apr 231 min read

Multilateral Development Banks Eye Lending $400 Billion

The Inter-American Development Bank (IADB) announced that leaders of 10 multilateral development banks have committed to taking action in...

Amex Surpasses Profit Estimate As Spending Rises

By The Financial District

Apr 231 min read

Amex Surpasses Profit Estimate As Spending Rises

American Express exceeded expectations for first-quarter profit due to robust spending by affluent consumers.

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