After a record quarter for profits in Asia, Credit Suisse’s APAC executive Helman Sitohang reiterated the bank’s confidence in the region and its ability to remain both committed and balanced, irrespective of geopolitics.
Standard Chartered chief executive Bill Winters made a bold statement to assure all employees will not a single paycheck in 2020.
While the world is looking at cost cuts and changes in investment banking, the future of Credit Suisse is being decided somewhere else, namely where CEO Thomas Gottstein attempts to show that his bank is a Champions League contender.
Switzerland’s second-largest bank has a large majority of its staff still working from home, even after most pandemic-induced restrictions have been lifted by the government. And the bankers seem to appreciate their new work environment.
WeLab Bank officially launched for business yesterday, marking the third virtual lender to enter the market in Hong Kong.
The swap facility was established with U.S. Federal Reserve Bank in March as part of coordinated central bank actions to ease strains in global USD funding markets as a result of the Covid-19 outbreak.
Swiss derivatives provider Leonteq is expanding its network of cooperation partners. The latest addition to the network is based in Luxembourg and a major player in the financial market of the grand duchy – and it is owned by a Chinese investment group.
TD Ameritrade Singapore is eliminating commissions on online exchange-listed stock, ETF, and option trades for its clients trading the U.S. markets in Singapore.
Standard Chartered’s profits plunge 33 percent in the first half as the pandemic forces the British lender to significantly up credit impairments by six-fold.
While the Covid-19 pandemic has supported investment into gold, it severely curtailed consumer demand, which is down largely because of logistical challenges and the high price, which is leading consumers to bank their profits.
Singapore’s Prime Minister Lee Hsien Loong said he was not seeking to woo business out of Hong Kong amid increasing reports about the city-state’s role as a beneficiary of the rival hub’s downturn.
Profits in Asia Pacific climbed 26 percent year-on-year to reach an all-time high since the regional division was established.
Credit Suisse is applying the reset button in investment banking and will merge two business segments. The team of CEO Thomas Gottstein is putting its faith in banking with rich clients.
Unfettered by the pandemic, Credit Suisse delivered stellar results in the second quarter which resulted in the highest first-half net income achieved in a decade.
The regulator has recommended dividend restrictions as a pre-emptive measure to bolster the resilience and capacity of banks to support lending to businesses and individuals, given the uncertain economy.
Citi announces a new five-year plan to further expand its foothold in sustainable financing after meeting its previous $100 billion target ahead of schedule last year.
Standard Chartered will kick off a fresh round of job cuts, joining rivals that have resumed reductions amid an economically crippling coronavirus pandemic.
An industry consultation group has recommended the discontinuation of the SGD Singapore Interbank Offered Rates (SIBOR) – widely used by many loans – in three to four years.
The Zurich-based global reinsurer has made appointments, effective September 2020, to strengthen its business in Asia Pacific.
China’s former foreign exchange regulator urged banks to cut reliance on the west’s global payment system, SWIFT, in preparation for looming U.S. sanctions.
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