Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
Standard Bank details how Africa's wealthy have built significant fortunes over time
Jacques Els, head of wealth and investment at Standard Bank, discussed the bank's report on how Africa's wealthy had built their fortunes, including the rise of first-generation wealth and three archetypes of wealth creators.
Old Mutual’s OM Bank adds about 2,100 customers a day in early 2026
OM Bank, Old Mutual’s new bank, grew from 284,000 customers at the end of 2025 to 473,000 by the end of March 2026.
African Development Bank hosts 2026 Private Sector Integrity Meeting in Cape Town
Integrity and compliance professionals from 27 multilateral development banks and development finance institutions met in Cape Town from 30 March to 1 April, the AfDB said on 4 June.
Central Bank of India reports recoveries, expects over ₹3,500 crore in FY27
Central Bank of India said it recovered ₹3,307 crore in the year ended March 2026 and expected recoveries to exceed ₹3,500 crore in financial year 2027.
Goldman Sachs projects SpaceX AI revenue to rise 100-fold by 2030
Goldman Sachs projected that SpaceX’s artificial intelligence revenue would increase about 100-fold by 2030, according to forecasts the bank shared with a potential investor in SpaceX's planned initial public offering, the Financial Times reported.
CIBAFI's Bawazir says trade friction, not potential, is the main barrier to intra-OIC trade
Speaking at the third Global Islamic Economy Summit in Istanbul, CIBAFI secretary-general Hamza K Bawazir said digitalisation, AI-based SME credit assessment and harmonised Sharia standards could help Islamic finance ease barriers to trade among OIC states.
Development Bank of Nigeria disburses over N1 trillion to MSMEs
The Development Bank of Nigeria disbursed more than N1 trillion to over one million MSMEs, supporting creation of more than 1.6 million jobs since it commenced operations.
Switzerland appears unfazed as Hong Kong overtakes it in wealth management
Swiss banks reacted calmly after Hong Kong overtook Switzerland in cross-border wealth management, feeling it bolstered the case against looming tighter banking regulations.
Barclays urges the UK to change rules to attract treasury business
Barclays urged the UK government to adopt policy changes to encourage more foreign companies to manage treasury and cash operations from the United Kingdom, framing the move as a boost to the economy.
Ecobank Group shareholders approve $40m dividend as 2025 results confirm strength of GTR strategy
Ecobank Transnational Incorporated shareholders approved a US$40 million dividend for 2025 at the 2026 AGM in Lomé, marking the Group's first dividend since the 2022 financial year amid strong full year results under its GTR strategy.
Fitch downgrades U.S. Bank NA long-term IDRs to A+ to correct error, places on watch positive
Fitch set the long-term Issuer Default Ratings of U.S. Bank National Association and its subsidiaries at 'A+' in a correction and placed them on Rating Watch Positive, signalling a possible upgrade.
AI trainers charge finance firms $25,000 a day as Wall Street pushes adoption
Wall Street Prompt, founded by two former SoftBank fund managers, charges $25,000 a day for AI workshops and has worked with T. Rowe Price, Citigroup and Bank of America, Bloomberg reported.