Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
Investec tweaks airport lounge access rule for Private Bank clients
Investec changed its airport lounge benefits, with Private Bank account holders now required to be at Investec Rewards partnership level two or above to qualify.
China's investment clampdown clouds outlook for Hong Kong banks and insurers
Beijing's crackdown on cross-border investment by mainland Chinese clients, reported by Reuters, was set to weigh on the businesses of Hong Kong banks, insurers and wealth managers and triggered a selloff in their shares.
Access Holdings shifts from acquisitions to returns, aims to be Nigeria's Standard Bank
Access Holdings' chairman Aigboje Aig-Imoukhuede said the group had ended its aggressive acquisition phase and was refocusing on value creation and shareholder returns while aspiring to be Nigeria's equivalent of Standard Bank.
World Bank cuts 2026 global growth forecast to 2.5% as Iran war hits outlook
The World Bank cut its 2026 global growth forecast to 2.5% from 2.6% in January, citing the Iran war, with growth forecasts downgraded for two thirds of economies.
U.S. Bank and PNC CEOs dismiss AI cash optimization as retail deposit threat
At the Morgan Stanley US Financials Conference this week, U.S. Bank CEO Gunjan Kedia, PNC CEO Bill Demchak and Truist CFO Mike Maguire dismissed concerns that AI-driven cash optimization posed an immediate risk to retail deposits.
SBI, ICICI Bank, HDFC Bank raise FCNR(B) rates after RBI swap window
State Bank of India, ICICI Bank and HDFC Bank raised FCNR(B) deposit rates after the Reserve Bank of India launched a foreign currency swap window that lowered banks' currency hedging costs.
Access Holdings pledges dividend resumption and long-term value creation at AGM
Access Holdings Plc said at its fourth annual general meeting that the board committed to resuming dividend payments once relevant regulatory conditions were met, and signalled a shift from growth for growth's sake.
Indian Overseas Bank hikes rates on select non-callable fixed deposits
Indian Overseas Bank raised retail non-callable fixed deposit rates, lifting the one-year public rate to 6.7 percent from 6.6 and the over-one-to-two-year tenor to 6.6 percent from 6.5.
Zimbabwe seeks $150 million AfDB loan to address debt default and arrears
Zimbabwe's finance minister said the government sought a $150 million loan from the African Development Bank to help tackle a long-running debt default and clear billions of dollars in arrears.
South Africa fully funds 2026/27 foreign-currency borrowing with $3.2 billion of concessional loans
National Treasury said the programme was funded entirely by development finance institutions and multilateral lenders, with no commercial bond issuance, and it will seek no more foreign currency funding this fiscal year.
Nigeria's banks lose momentum as African banking profits rise 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.
Stanbic Bank weighs 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 Ethiopia's 49% cap on foreign ownership of existing banks.