Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
Karur Vysya Bank raised FCNR(B) US dollar rate to 7 percent
Karur Vysya Bank hiked interest on FCNR(B) US dollar deposits for 3-5 year maturities to 7% per annum, up from 2.63%, a rise of 437 basis points aimed at attracting foreign currency funds.
African bank profits rose regionally while Nigeria's banks posted declines
African banks collectively recorded profit increases in recent reporting, while Nigeria's lenders saw profits fall after two years of gains driven by naira devaluation and elevated interest rates.
Nigeria's Banks Lost Momentum as African Banking Profits Rose Overall
African banking sector profits rose regionally, but Nigerian banks posted weaker earnings after two years of strong gains driven by naira devaluation and high interest rates, according to BusinessDay.
Indian banks lifted FCNR(B) deposit rates as peak yields neared 7 percent
Indian banks raised interest rates on FCNR(B) foreign currency deposits, with top offers climbing to around 7 percent as institutions sought to attract non resident deposits amid a tighter global rate environment.
Stanbic Bank weighed greenfield entry into Ethiopia amid ownership limit hurdles
Stanbic Bank considered a greenfield entry into Ethiopia as an alternative to acquiring local lenders, signalling a path around foreign ownership limits and prolonged regulatory hurdles in the market.
Kazakhstan's Altyn Bank used Hong Kong as offshore renminbi gateway
Altyn Bank, a Kazakhstan commercial lender backed by China Citic Bank, sought collaboration with Hong Kong financial institutions to develop offshore renminbi financing channels for Kazakhstan.
Canara Bank Raised MCLR on Short Tenors Amid Tight Liquidity Conditions
Canara Bank raised its marginal cost of funds-based lending rate for overnight to six month tenures by five basis points, citing tight liquidity while leaving longer tenure rates unchanged.
Kasikornbank Said Mideast War Had Weighed on Its Asset Quality
Kasikornbank said the ongoing Middle East war had dented its asset quality in the second half of the year and that it would provide targeted support and relief measures for affected customers.
Indian banks raised FCNR(B) deposit rates with peak offers near seven percent
Indian banks raised interest rates on FCNR(B) foreign currency non-resident deposits, with peak offers touching about 7 percent as lenders sought to boost inflows from non-resident depositors.
Canara Bank Raised MCLR on Short Tenures as Liquidity Tightened in India
Canara Bank raised its marginal cost of funds based lending rate for overnight to six month tenures by 5 basis points, citing tight liquidity conditions, while leaving longer-tenure MCLR unchanged.
JPMorgan, Bank of America and Citi increased fossil fuel financing 8 percent
Global banks committed $906 billion to fossil fuel financing in 2025, raising overall funding 8 percent while financing for expansion climbed 27 percent, the latest Banking on Climate Chaos report found.
Karur Vysya Bank raised FCNR(B) US Dollar deposit rate to 7 percent
Karur Vysya Bank raised its FCNR(B) US Dollar deposit rate by 437 basis points to 7 percent per annum for three to five year maturities, from the earlier 2.63 percent.