As firms hold back, US consumers seen boosting big banks’ profits
NEW YORK — Consumer lending is expected to propel profits for big US banks when they unveil fourth-quarter results this week, though stress in corporate lending and uneven capital markets may cast a shadow over results.
Law firm applying for a special audit of Wirecard
FRANKFURT — Law firm Schirp said on Monday it was applying for a special audit of German payments company Wirecard, which is facing allegations of fraud and false accounting, on behalf of its shareholders.
Agency banking transactions rose in 2019
THE COUNTRY’S digital agency banking in 2019 took a leap as transactions ballooned by more than fivefold, fueled by withdrawal transactions of conditional cash transfer beneficiaries.
Goldman plans to double China headcount to 600
GOLDMAN SACHS Group, Inc. plans to double its headcount in China over the next five years, provided the Communist Party-ruled nation continues down the path of opening up its financial markets.
It’s only going to get wilder for Hong Kong dollar traders
ONE ASSESSMENT of the Hong Kong dollar’s dramatic turnaround in recent months is that it’s a sign of things to come.
Peso may lag peers as current account gap widens; yuan to climb
THE PHILIPPINE PESO is set to lag peers as the nation’s current account deficit widens, according to Goldman Sachs Group, Inc.
Treasury bill rates may inch up as US-Iran tensions continue
RATES OF Treasury bills (T-bills) on offer today will likely inch up as tensions between the US and Iran continue.
BSP looks to strengthen financial inclusion push
THE BANGKO SENTRAL ng Pilipinas (BSP) will continue its drive to push for financial inclusion in 2020, according to BSP Governor Benjamin E. Diokno.
Peso may strengthen on US-China phase one deal
THE PESO may strengthen against the dollar this week on the back of better risk appetite as the market waits for the ceremonial signing of the phase one trade deal between the United States and China.
Hong Kong’s first digital bank offers 6% deposit rate that dwarfs HSBC’s
THE FIRST OF Hong Kong’s new generation of digital banks has announced its arrival with a 6% introductory rate for deposits.
Yields on gov’t debt up on inflation, US-Iran tensions
YIELDS ON government securities (GS) increased across-the-board last week amid developments abroad and at home, namely the escalation of tensions in the Middle East and faster domestic inflation.
Rediscount loans rise in 2019
LENDERS did not tap the central bank’s rediscount facility for the second consecutive month in December, with an analyst saying banks likely have enough liquidity due to the reserve requirement reductions implemented in 2019.