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BBVA is committed to ensuring continued access to banking services as it seeks to alleviate concerns from authorities regarding its potential acquisition of Banco Sabadell SA. The Spanish antitrust authority, CNMC, has extended its review of the deal, focusing on potential impacts on financial conditions for small and mid-sized businesses.
Banco Santander SA is looking to enhance profitability by marketing over a dozen significant risk transfers linked to more than €20 billion ($21 billion) in loans from its global operations, including the US, Germany, the UK, and Mexico. The sales process for these deals is at various stages, according to sources familiar with the matter.
Adani Group stocks plummeted following Gautam Adani's indictment in New York for alleged bribery and fraud, leading to a significant sell-off in public sector lenders like SBI, BoB, and PNB. Analysts view this as a temporary reaction, suggesting it presents a buying opportunity due to the banks' strong fundamentals and improved asset quality. They anticipate recovery as the Adani Group provides further clarity on the situation.
Investec has announced its highest interim dividend to date, driven by a 7.6% increase in adjusted operating profit, reaching £475 million ($600 million) for the six months ending September 30. Despite a slight decline in headline earnings per share to 36.6 pence and a drop in return on equity to 13.9%, the figures remain within the bank's target range of 13%-17%.
The UK's Financial Conduct Authority is contemplating extending the timeframe for banks to address customer complaints related to fixed commissions on auto loans. This consideration arises amid ongoing scrutiny of significant lawsuits involving Close Brothers Group Plc and FirstRand Ltd, both of which plan to appeal their recent losses.
The upcoming Trump administration may lead to significant regulatory rollbacks and stricter tariffs, potentially benefiting Swiss private banking as geopolitical divides widen. Clients from the Global South may seek alternatives to US, European, and Chinese banks, favoring offshore financial centers. Andrew Isbester, with nearly two decades in Swiss and European finance, explores these themes in "The Double Take" feature on finews.com.
Germany's strict borrowing rules, long supported by conservative leaders, are facing scrutiny as the country approaches a snap election in February. Critics argue for a necessary overhaul to allow more flexibility in funding essential investments in infrastructure, energy, and defense. Even leading chancellor candidate Friedrich Merz acknowledges the need for change.
The finance ministry is set to launch a digital credit assessment model for Micro, Small, and Medium Enterprises (MSMEs) in December, aimed at simplifying loan access for smaller businesses often overlooked due to insufficient formal documentation. This initiative, part of the Budget 2024, will utilize MSMEs' digital footprints to evaluate creditworthiness, eliminating the need for external ratings and reducing costs for these enterprises. Finance Minister Nirmala Sitharaman is expected to unveil the model, which is currently in the pilot phase.
Julius Baer reported net inflows of 11 billion francs ($12.5 billion) in the first 10 months of 2024, with significant contributions from Singapore and India. Assets under management rose 12% to 480 billion francs, despite a decline in gross margin to 83 basis points. The bank's cost/income ratio increased to 71%.
Gold loans are a popular financing option in India, especially for emergencies, with interest rates ranging from 9.15% to 28% per annum. For a ₹3 lakh loan at a 12% interest rate over one year, borrowers should consider total costs, including processing fees and other charges, to understand their financial commitment. Major banks and NBFCs like HDFC Bank and ICICI Bank offer competitive rates, which can vary based on loan terms and market conditions.
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