Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
Indian banks face a tricky position after hiking FCNR(B) USD rates
Indian banks sharply raised interest rates on FCNR(B) USD deposits in the 3-5 year tenor, raising the prospect that depositors could prematurely break older deposits and rebook them as fresh, higher-rate placements.
UK consumers face highest financial fraud losses in four years, data shows
UK consumer losses from financial fraud hit a four-year high in 2025, as UK Finance called for tech and telecoms firms to take on stronger, enforceable responsibilities to prevent fraud.
How Wall Street banks sold SpaceX's record $75bn IPO to investors
SpaceX priced the largest IPO in history at $135 a share, raising $75bn despite steep losses and a structure that leaves Elon Musk with about 85% of shareholder voting power.
South Africa's rand eases after World Bank cuts 2026 growth forecast to 1%
The World Bank lowered its 2026 growth forecast for South Africa from 1.4% to 1.0%, citing the fallout from the Middle East conflict, while the rand stayed broadly resilient near R16.29 to the dollar.
Bank of Baroda launches 555-day FD paying 6.75 percent to customers
Bank of Baroda launched a 555-day fixed deposit scheme that offered 6.75 percent to general customers, provided higher rates for senior citizens, and accepted deposits both online and at branches.
HSBC shares rise 2.2% as financials lead FTSE 100 rebound
Hong Kong-exposed lenders and insurers recovered in London on 11 June after sharp declines triggered by China's tighter rules on cross-border investment, with Standard Chartered up 3.4%.
India MSME loan growth slows to 13 percent amid global headwinds
India's MSME loan growth decelerated to 13 percent as global headwinds weighed on lending, and ECLGS 5.0, approved by the government in May 2026, is designed to unlock about ₹2.55 trillion in additional credit.
India's ESAF Small Finance Bank passes ₹50,000 crore total business mark
ESAF Small Finance Bank reported total deposits of Rs 26,197 crore and gross advances of Rs 23,832 crore as of June 11, 2026, taking combined business past Rs 50,000 crore.
World Bank Nigeria director says country could achieve 7-8 percent growth
World Bank Nigeria director Mathew Verghis told African Banker that Nigeria had the potential to achieve annual growth of 7 to 8 percent, arguing the country could be more ambitious on growth.
Credit Bank in Kenya allocates Kshs 1bn to support small businesses
Credit Bank allocated Kshs 1bn to fund small and medium enterprise lending, directing capital to support Kenya's SME sector through targeted financing solutions aimed at expanding access to credit.
Indian smaller lenders pay over 7 percent on USD deposits to attract FCNR(B) funds
Smaller Indian banks offered more than 7 percent on US dollar FCNR(B) term deposits after the RBI opened a special window to bear banks' hedging costs on fresh FCNR(B) deposits, prompting a scramble for foreign currency deposits.
World Bank sees GCC growth slowing sharply in 2026 before rebounding in 2027
The World Bank cut its 2026 GCC growth forecast by 3.1 percentage points to 1.3%, citing the Middle East war and the closure of the Strait of Hormuz, but expects a rebound to 5.2% in 2027.