Daily Banking News Links 19.01.2019

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Daily Banking News Links 19.01.2019

Banking News Headline

Newly listed cos perform poorly after debut surge in 2018,
Indian business leaders urge RBI to cut benchmark rate,
Enacting deposit protection law drags on for years,
Agrani seeks Tk 20b in sovereign guarantee,

Newly listed cos perform poorly after debut surge in 2018



Most of the newly listed companies failed to maintain positive vibe after their initial surge in 2018 as the investors’ abnormal hype surrounding the newly listed companies did not sustain for long.
In 2018, a total of 12 companies came to the market. Of them, two companies offered shares par value to get listed in the secondary market…………….

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Indian business leaders urge RBI to cut benchmark rate

India’s top business groups on Thursday urged the central bank to cut its benchmark interest rate by at least half a percentage point and lower the cash reserve ratio it imposes on banks to stimulate an economy that is showing signs of weakness………….

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Enacting deposit protection law drags on for years

The enactment of deposit protection law is getting delayed as the government is yet to take any concrete step in this connection.Deposit insurance is a system established by the government to protect depositors against the loss of their deposits in the event of failure of a bank to meet its obligations………….

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Agrani seeks Tk 20b in sovereign guarantee

Agrani Bank has sought sovereign guarantee worth Tk 20 billion to maintain its required risk-based capital adequacy, officials have said.In a recent letter to the Ministry of Finance, the state-run bank said it has adequate liquid money, thus it does not need cash from the government…………….

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GLOBAL BANKING

French companies seek long term ties: Ambassador

There’s more to France’s interests in India than the Rafale fighter jet deal. French ambassador Alexandre Ziegler, who is leading a 78-member delegation to the 9th edition of the Vibrant Gujarat Global Summit, told……….

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Complexity of Indian financial system warrants robust corp governance in banks: Shaktikanta Das

RBI Governor Shaktikanta Das Friday said efforts are being made to strengthen corporate governance in the public sector banks to effectively check incidence of financial frauds.In his first public speech after assuming the charge as RBI Governor in December, Das also flagged challenges that Indian companies may face on account of developments around the Brexit……………

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INTERNATIONAL BANKING

US shutdown could stunt economic growth: New York Fed chief
NEW YORK: The shutdown of the US government — now in its record 28th day — is becoming a drag on economic growth, the president of the New York Federal Reserve Bank said Friday.John Williams, who also holds the influential vice chairmanship of the Federal Reserve’s policy committee, reportedly told a gathering the government work stoppage could shave as much as a full percentage point off GDP growth in the first quarter…….

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Bank of Santa Clarita Again Reports Record Levels of Earnings-9 hours ago

Bank of Santa Clarita (BSCA) today announced that for the fourth quarter and full year of 2018, Bank earnings continue at record levels, as net earnings for the quarter totaled $795,000, more than doubling its earnings for the fourth quarter of 2017; moreover, net earnings for 2018 totaled $3,184,000, 73.5% greater than it recorded in 2017…..

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Sierra Bancorp Declares Quarterly Cash Dividend-16 hours ago

Sierra Bancorp (Nasdaq:BSRR), parent of Bank of the Sierra, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.18 per share, which represents an increase of $0.02 per share, or 12.5%, relative to quarterly dividends paid in 2018. The dividend, which will be paid on February 14, 2019 to shareholders of record as of January 31, 2019, was approved subsequent to the Boards review of the Companys financial performance and capital strength for the quarter ended December 31, 2018………..

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PennyMac Financial Services, Inc. Launches Home Equity Lending Product-15 hours ago

PennyMac Financial Services, Inc. (NYSE: PFSI) today announced the launch of a Home Equity Line of Credit (HELOC) product being offered through its wholly-owned subsidiary, PennyMac Loan Services, LLC. The HELOC product is designed to support the financing needs of its 1.4 million customers by offering them a flexible way to use their home equity for home improvements, debt consolidation and other expenses while allowing them to maintain their current first-mortgage interest rates………

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