Daily Banking News Links 09.01.2019

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Daily Banking News Links 09.01.2019

Carige gets state-backed funding after government U-turn

Italy’s Banca Carige will raise up to 3 billion euros (2.7 billion pounds) in debt using a state guarantee after Rome approved emergency measures to shore up the ailing bank, marking a major about-face by the ruling coalition. 08 JAN 2019

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EU ready to discuss conditions of Italian state aid to Carige
European Commission officials are in contact with Italy’s government over its plans to shore up troubled lender Banca Carige and are ready to discuss the conditions for any aid, a spokesman said on Tuesday. 08 JAN 2019

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Citigroup to end Chinese securities JV to set up majority-owned venture
Citigroup Inc has agreed to sell its stake in its Citi Orient Securities joint venture to its Chinese partner, paving the way for the U.S. bank to set up its own brokerage in the world’s second-largest economy. 08 JAN 2019

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Banking and Finance news in India 

YES Bank board shortlists candidates to replace MD, CEO
1 Hour ago
Yes Bank Wednesday said it has shortlisted the names of potential candidates to succeed MD and CEO Rana Kapoor, who is to demit office by month-end.

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Bharat Bandh: SBI treasury branch at Thiruvananthapuram attacked, trains blocked
9 Hours ago
The branch manager said a group of people came to his cabin at around 10 am and threatened the staff, damaged a glass table top and a computer.

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Banking services partially impacted on the second day of strike
10 Hours ago
All India Bank Employees’ Association (AIBEA) and Bank Employees’ Federation of India (BEFI) have supported the strike, which has impacted banking operation where these two unions are strong.

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Banks uncertain about recovering their dues after FEO tag on Vijay Mallya
11 Hours ago
Lenders to Vijay Mallya seem uncertain about the fate of their dues after the beleaguered liquor baron was declared a fugitive economic offender (FEO) last week.

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Banking and Finance news in Bangladesh 

WRITTEN-OFF LOANS
Recovery slow for feeble efforts

Banks have been able to recover less than a fourth of their written off loans in the last 15 years because of half-hearted effort on their part. Introduced in January 2003 with a view to putting the brakes on rising default loans, the Bangladesh Bank’s write-off policy has allowed banks to clean up their balance sheets artificially…..

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Banks asked to explain import bills non-payment

Bangladesh Bank on Tuesday asked all scheduled banks to submit reports on overdue bills against import which have remained unpaid even after the expiry of maturity.
The BB’s foreign exchange policy department issued a circular in this regard on Tuesday saying that allegations over non-payment of import bill value by the authorised dealers of banks even after issuing endorsement prompted the central bank to issue the circular…………

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Mustafa Kamal takes swipe at economistsMustafa Kamal takes swipe at economists

New finance minister AHM Mustafa Kamal on Tuesday took a swipe at economists saying that they only saw fear, crisis, and earthquake.‘They [economists] even feel earthquake in dreams,’ he told reporters at the Planning Commission while commenting on suspicions expressed by economists that establishing good governance in the financial sector and freeing it from political influence would be tough tasks for the government……….

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Two new insurers may get licenses

The government is set to hand out licenses for new insurance companies although many newer insurers are yet to find a toehold in the industry despite five years of operation.The Insurance Development and Regulatory Authority (IDRA) gave the no-objection certificate to NRB Islamic Life Insurance to register with the Registrar of Joint Stock Companies………..

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Dhaka stocks on fire, cos linked with cabinet members soar

Dhaka stocks rocketed on Tuesday with more than 100 points increase, taking the total gain to 553 points in last 13 days as investors continued buying shares, especially those companies which are linked with some members of the new cabinet, market operators said………….

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Efficient online OSS needed for potential investors

This letter is in reference to the article titled ‘BIDA opens online one-stop service for investors’ published in the Financial Express on January 8, 2019.The article mentioned that the Bangladesh Investment Development Authority (BIDA) has started its online one-stop service (OSS) on trial basis and its formal launch may occur around the end of this month…………

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Disclaimer: Daily Banking News Links is an initiative of a collection of banking links at a glance of banking information for bankers. The links are not my property. Just to provide banking information in an umbrella for bankers.

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