Bank loans

Bank lending to MSMEs increases to over P200B

The Bangko Sentral ng Pilipinas (BSP) maintains the momentum of support for Micro, Small and Medium Enterprises (MSMEs) as they strive to retain their customer base and expand their market amid the continued disruptions of the coronavirus pandemic. COVID-19. According to the BSP, the banking system allocated an average of 202.2 billion pesos in loans […]

Financial institutions

How Financial Institutions Can Stop Account Takeover Attacks

Financial institutions (FIs) can detect and prevent account takeover attacks using continuous monitoring and adaptive multi-factor authentication. Account takeover fraud (ATO) is one of the leading causes of fraud-related losses for banks and financial institutions. An account takeover occurs when a customer’s bank account is digitally “hacked” and exploited by an attacker. The methods and […]

Bank loans

MP asks why netas are denied bank loans because they are ‘politically exposed’, FM says there is no such policy | India News

NEW DELHI: Noting how banks are reluctant to provide loans to politicians, including MPs, as they fall under the category of “politically exposed persons”, BJP GVL MP Narsimha Rao on Tuesday urged the Ministry of Finance to remove this stigma, which is also an “insult”. ”. Union Finance Minister Nirmala Sitharaman said there was no […]

Bank loans

Bank loan deferral plan presented in Bahrain

An urgent proposal to postpone all bank loan disbursements until June next year for Bahrainis was tabled yesterday. The current loan deferral option expires on December 31. The Central Bank of Bahrain (CBB) was also asked to encourage the government to support the proposal which was led by MP Ibrahim Al Nefaei and four others. […]

Financial institutions

West Virginia treasurer joins 15 other states in warning financial institutions of ‘woke capitalism’ | VM News

Country united states of americaUS Virgin IslandsMinor Outlying Islands of the United StatesCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, […]

Financial institutions

Why Financial Institutions Bet on Sustainability

Many people feel that their right to use cash is in jeopardy. Why this is so important might be lost on some, but money is often an unrecognized asset. Sentiment on the subject is so strong in the UK that a group of stakeholders recently launched a non-profit with the aim of saving this ancient […]

Financial institutions

FINCEN seeks the assistance of financial institutions in the fight against environmental crimes – Criminal law

United States: FINCEN seeks the assistance of financial institutions in the fight against environmental crimes To print this article, all you need to do is be registered or log in to Mondaq.com. On November 18, 2021, the Financial Crimes Enforcement Network (FinCEN) issued an advisory “to draw attention to an […]

Financial institutions

Financial Institutions — Crossing the Crypto Accounting Chasm

The US Securities and Exchange Commission’s approval of the first US Bitcoin futures exchange-traded fund (ETF) marks a monumental shift in institutional and regulatory attitudes toward crypto. In just two days, ProShares’ Bitcoin ETF surpassed $1 billion in assets. According to a survey by Fidelity, around 10% of all bitcoin ($125 billion) is now held […]

Financial institutions

Financial institutions buy riskier assets due to moral hazard, says Bank of Canada

Canadian financial institutions increasingly view the financial system as risk-free. That could be a risk in itself. The Bank of Canada (BoC) completed its biannual Financial System Survey (FSS) this week. He found that institutions buy “riskier” assets to compensate for low interest rates. Risk managers consider the risk to be low, believing that the […]

Personal loans

Platform Finance reports surge in personal loans

Home renovations, debt consolidation and vehicle purchases led to a doubling of personal loan growth in the first quarter of fiscal 2022 for the financial platform. Asset finance aggregation group Platform Finance has revealed that there has recently been an upsurge in demand for personal loans, with the group announcing 100% growth in personal loan […]

Bank loans

84% of SMEs think bank loans are difficult to obtain

Only 16% of SMEs think it’s easy to get a loan from a bank, according to the leading independent business index RedZed. A new report released by small and medium-sized business (SME) lender RedZed has suggested that the vast majority of SMEs are skeptical about getting a bank loan, with just 16% expressing that they […]

Financial institutions

FTC signals new wave of cybersecurity enforcement for financial institutions

Thursday, November 18, 2021 Take away food The FTC has expanded the definition of “financial institutions” to include more types of businesses, though small businesses remain exempt from more onerous requirements. Financial institutions must appoint a “qualified person” to oversee their cybersecurity compliance. Companies should have a written information security plan, an incident response plan, […]

Financial institutions

Digital transformation for financial institutions

By Benjamin Mkwizu In the recent past, we have witnessed an evolution in customer expectations of banking service delivery. There is now much more appreciation and adoption for personalized products accessible through a diverse range of distribution channels. Young people are more likely to use portable devices to access their banking services. Welcome to the […]

Personal loans

Which personal loan stock is a better buy?

Shares of personal loan companies SoFi (SOFI) and Upstart (UPST) have posted impressive gains in 2021. Today, I’m going to take a look to see the major business segments of the companies and analyze what is the best investment at current valuations. shutterstock.com – StockNews Fintech companies have been on an absolute tear since the […]

Bank loans

Coffee farmers cite rain losses and demand rescheduling of bank loans

The Karnataka Planters Association, which has painted a grim picture of the coffee production scenario due to continued rainfall in the coffee-growing areas, urged the Center on Monday to reschedule the tenor of loans to growers over a period seven years old. Association President S Appadurai and Secretary Anil Savur D called for the relief […]

Debt finance

Virescent Renewable Energy Trust raises INR 2,150 crore in debt financing – pv magazine India

Virescent Infrastructure will use the proceeds primarily to refinance Special Purpose Vehicle (SPV) debt and fund future acquisitions. November 15, 2021 Uma gupta American investor KKR-supported Virescent infrastructure announced today that its renewable energy-focused infrastructure investment trust (InvIT), Virescent Renewable Energy Trust (VRET), has raised INR 2,150 crore in debt financing through non-convertible debentures (MNT), […]

Financial institutions

[Law Talk] Importance of internal controls for financial institutions

Over the past year, the financial crisis caused by the unsound business practices of some financial companies such as Lime, Optimus and companies that sold funds linked to derivatives, has been the hottest topic within the financial industry. Following the eruption of these high-profile scandals, financial supervisors began to sanction financial firms for unsound business […]

Personal loans

How personal loans can help you pay off your credit card debt

Image source: Getty Images You’d be surprised how advantageous a personal loan can be. Key points Personal loans can facilitate payment by credit card. You may be able to lower your interest rate by using a personal loan. Personal loans, unlike credit cards, have payment schedules. Personal loans can be obtained from many banks, online […]

Bank loans

FinTech offers small business bonds to fund growth

Small and medium-sized business (SME) owners looking to raise funds now have the ability to issue bonds to their everyday customers and tap into their “love factor”. The idea is that budding entrepreneurs can quickly find the funding they need to grow their business, while giving loyal patrons the opportunity to earn some extra cash […]

Personal loans

Explained: Personal loans are on the rise, but is now the right time to get one?

Against a backdrop of weak overall credit growth over the past year as a result of the pandemic and declining economic activity, there has been a strong recovery in the personal lending (retail) segment, highlighting a increased household debt as personal cash flow declined. How has the growth been? According to data from RBI, outstanding […]

Financial institutions

54% of financial institutions are looking to launch instant approvals for loans

According to a new study, more than half of financial firms plan to roll out “instant loan approval” within the next two years. The findings feature in a new report commissioned by digital identity technology provider GBG, which saw research group IDC investigate. 1,502 Australian consumers and 300 financial institutions (FIs) and professional services firms […]

Financial institutions

Non-practicing entities increasingly target banks and financial institutions in patent litigation – Intellectual Property

United States: Non-practicing entities increasingly target banks and financial institutions in patent litigation November 11, 2021 Thompson Coburn LLP To print this article, all you need to do is be registered or log in to Mondaq.com. While banks and financial institutions have long been the subject of patent lawsuits, they have been increasingly targeted this […]

Bank loans

Deferred interest paid; Increase in bank loans: update from Evergrande

(Bloomberg) — A string of positive news is supporting China’s struggling real estate sector. China Evergrande Group appeared to pay interest on the dollar bonds at the last minute, avoiding a default. Customers of international clearing firm Clearstream have received overdue interest payments on three US dollar bonds issued by Evergrande, a Clearstream spokesperson said. […]

Bank loans

China October new bank loans fall less than expected, mortgages rise

BEIJING (Reuters) – New bank lending in China fell sharply in October from the previous month, but not as badly as analysts expected, expecting the central bank to cautiously ease monetary policy amid the risks. of stagflation. FILE PHOTO: A man wearing a mask walks past the headquarters of the People’s Bank of China, the […]

Bank loans

China October New bank loans fall less than expected, mortgages rise | Investment News

By Judy Hua and Kevin Yao BEIJING (Reuters) – New bank lending in China fell sharply in October from the previous month, but not as badly as analysts expected, expecting the central bank to cautiously ease monetary policy amid the risks. of stagflation. Data released by the People’s Bank of China on Wednesday showed banks […]

Financial institutions

Financial institutions managing $130,000,000,000 in assets subscribe to the scientific net-zero standard

Financial institutions representing a combined $130 billion asset management portfolio have signed an ambitious plan that envisions “reaching a state of net zero” by 2050 using a standard of “science-based targets developed by the eponymous Science Based Target (SBTi) initiative. Focus: get the information you need with the Recharge diary The global energy transition is […]

Debt finance

African Gold explores debt financing and equity options for Kobada

Small Canadian mining company African Gold is exploring debt financing and securities trading options to finance its Kobada gold mine project in southern Mali, CEO Danny Callow told The Africa Report. The company needs $ 165 million to produce the first gold mine, Callow said. It aims to raise around $ 110 million in debt […]

Bank loans

China Oct, new bank loans fall less than expected, mortgages rise

BEIJING: New bank lending to China fell sharply in October compared to the previous month, but not as bad as expected by analysts who expect the central bank to cautiously ease monetary policy amid the risks of stagflation. Data released by the People’s Bank of China on Wednesday showed that banks made new loans of […]

Financial institutions

Helping Banks and Financial Institutions Break Free from Legacy Limitations, FLOXX Raises $8.5M

Bucharest-based fintech FLOXX has raised $8.5 million in a seed funding round. The enterprise-grade platform helps banks and financial institutions with complex IT infrastructures create digital experiences that neo-banks have championed for years, experiences that consumers increasingly expect. The seed funding will be used to expand operations across Europe and the United States, including through […]

Financial institutions

By helping banks and financial institutions break free from legacy limitations, FLOXX raises $8.5 million – Tech.eu

Bucharest-based fintech FLOXX has raised $8.5 million in a seed funding round. The enterprise-grade platform helps banks and financial institutions with complex IT infrastructures create digital experiences that neo-banks have championed for years, experiences that consumers increasingly expect. The seed funding will be used to expand operations across Europe and the United States, including through […]

Financial institutions

SRM Announces Cryptocurrency Advisory for Financial Institutions

MEMPHIS, Tenn.–(BUSINESS WIRE)–SRM (Strategic Resource Management), an independent advisory firm serving financial institutions in the United States and Europe, has announced its new cryptocurrency advisory offering. This addition to the company’s advisory services will provide cryptocurrency education, support product development and vendor selection for financial institutions integrating these technologies, and provide advice on key compliance […]

Financial institutions

Lake Trust Credit Union and Other Financial Institutions Enter Michigan’s Cannabis Banking Market

When the cannabis industry was launched in Michigan, conflicting federal and state laws prevented most banks and credit unions from participating in the burgeoning industry. That left a lot of dealing in cash. Medical marijuana and the New Generation Meds adult cultivation facility in Lansing are among the cannabis operations that have been able to […]

Financial institutions

Global registry launched to help financial institutions find fintech companies to work with

SINGAPORE — Financial institutions (FIs) will soon find it easier to find fintech companies to work with, thanks to a global fintech registry set to go live next month. The ChekFIN platform aims to help FIs identify and evaluate fintech companies for collaboration and development opportunities, the Asean Financial Innovation Network (Afin) said. “Financial institutions […]

Bank loans

China’s new October bank loans are expected to halve from the previous month – Reuters poll

BEIJING: New bank lending to China is expected to have plunged in October from the previous month, but yuan lending is expected to be higher than a year earlier, a Reuters poll showed, as the central bank wary of the policy easing amid stagflation concerns. . It is estimated that Chinese banks issued 800 billion […]

Bank loans

China’s October new bank loans expected to halve from previous month

U.S. 100 dollar banknotes and Chinese 100 yuan banknotes are pictured at a branch of a foreign bank in Beijing January 4, 2016. REUTERS/Kim Kyung-Hoon Join now for FREE unlimited access to Reuters.com Register New loans in October at 800 billion yuan against 1.66 trln yuan in September Money supply growth in October at 8.3% […]

Bank loans

Ant Group Begins to Differentiate Jiebei Consumer Lending Business from Bank Lending | Investment News

BEIJING (Reuters) – China’s Ant Group said on Monday it was working to “differentiate” part of its Jiebei short-term consumer lending business as it pursues a Beijing-led restructuring aimed at curbing some of its freewheeling activities. Ant, the financial arm of e-commerce giant Alibaba Group, had its $37 billion IPO derailed by regulators last year […]

Bank loans

China’s October new bank loans expected to be halved from previous month – Reuters poll | Investment News

BEIJING (Reuters) – New bank lending in China is expected to have plunged in October from the previous month, but yuan lending is expected to be higher than a year earlier, according to a Reuters poll, as the central bank wary of policy easing amid stagflation concerns. Chinese banks are estimated to have issued 800 […]

Bank loans

Ant Group begins to differentiate Jiebei consumer lending business from bank lending

A man walks past an Ant Group logo during the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 8, 2021. REUTERS/Yilei Sun Join now for FREE unlimited access to Reuters.com Register BEIJING, Nov 8 (Reuters) – China’s Ant Group said on Monday it was working to “differentiate” part of its Jiebei short-term consumer lending […]

Bank loans

Bank loans to MSMEs reach almost 200 billion pesos

Lawrence Agcaoili – The Filipino Star November 7, 2021 | 00:00 MANILA, Philippines – Bank loans to micro, small and medium-sized enterprises (MSMEs) used to comply with the central bank’s reserve requirement ratio (RRR) nearly reached 200 billion pesos as of September 23, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno told […]

Financial institutions

FTC finalizes safeguard rules for non-bank financial institutions – Finance et Banque

United States: FTC finalizes safeguard rules for non-bank financial institutions 06 November 2021 Sheppard Mullin Richter & Hampton To print this article, all you need to do is be registered or log in to Mondaq.com. On October 27, the FTC announced a final rule changing standards for protecting customer information, […]

Personal loans

Diwali 2021: SBI offers these benefits on auto, gold and personal loans – Details here

To make Diwali more special, State Bank of India (SBI) has rolled out several offers for its customers. SBI, the nation’s largest public sector lender, offers a number of benefits on auto loans, gold loans, and personal loans. Taking to their official Twitter account, SBI tweeted, “Celebrate the Festival of Lights with exciting offers on […]

Bank loans

Vadodara: Kingpin engaged in crime to repay bank loans | News from Vadodara

VADODARA: Business losses during the Covid-19 pandemic and the lockdown may have pushed Shahid Navdekar, the mastermind of the black dollar scam, as he wanted to repay his housing loan. Investigators said Shahid used the embezzled money to repay his loan which had been several months overdue while another defendant, Bharat Gida, invested the money […]

Debt finance

APICORP and NBF sign $ 108 million debt financing facility with Hartree Maritime Partners

RIYAD: Saudi Arabia’s main stock index, TASI, opened on Thursday after a strong four-day performance despite record cases of COVID-19 in the Kingdom. TASI at 10:20 a.m. KST was 11,959 points and the Nomu parallel market opened 0.2% less at 26,183. The early morning gains were driven by the Kingdom’s utility provider ACWA Power, which […]

Financial institutions

FTC Amends GLBA Safeguard Rule on Financial Institutions

Wednesday, November 3, 2021 Last week, the Federal Trade Commission (the “FTC”) issued a final rule amending the standards for protecting customer information (commonly referred to as the “safeguard rule”) enacted under the Gramm-Leach-Bliley Act ( “GLBA”). The final safeguard rule, approved by FTC commissioners along party lines, will require financial institutions to make significant […]

Financial institutions

Survey: More financial institutions are using scenario analysis to manage climate risk | Item

Conducted by the GARP Risk Institute (GRI), the “Third Annual Global Survey of Climate Risk Management in Financial Firms” gathered responses from 78 financial institutions around the world, including banks, asset managers, insurers and other businesses, which collectively hold approximately $46 trillion in assets on their balance sheets and total assets under management of approximately […]

Financial institutions

Fintechs are friends, not enemies, of traditional financial institutions

Charles Krawitz is Vice President of Commercial Lending and Lending Operations at Alliant Credit Union. As fintechs capture an ever-increasing share of consumer financial activity, traditional institutions face increasing pressure to maintain their appeal. Faced with such competition, it is natural for regulated financial service providers to view fintechs as adversaries. However, adopting a defensive […]

Debt finance

APICORP and NBF sign $108 million debt financing facility with Hartree Maritime Partners

Abu Dhabi – Mubasher: Arab Petroleum Investments Corporation (APICORP) and National Bank of Fujairah (NBF) have signed a five-year debt financing facility worth $108 million with Hartree Maritime Partners (HMP) , the maritime subsidiary of Hartree Partners. The facility will fund HMP’s purchase of two environmentally friendly crude oil carriers (VLCCs), which are being built […]

Bank loans

Find an opportunity in bank loans

Matthew McInerny Timothy Rabe DSI: We saw record issuances of floating rate bank loans in the first quarter of 2021, and there is still a busy calendar of offerings ahead. What drives the appetite for this type of debt? Matthew McInerny: We believe we are at an attractive entry point for this asset class both […]