Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
DBS Rejected S$1.298 Billion Damages Claim Filed by Liquidators of Four 1MDB-Linked Companies
Singapore's largest lender said on 9 September that four companies in liquidation and their liquidators had filed a claim estimated at S$1.298 billion, which the bank categorically rejected and booked no provision against.
Sanlam Secured Regulatory Approval for Transactional Banking, Targeting Phased South African Rollout in 2027
Sanlam confirmed on Thursday it had received regulatory approval to offer transactional banking through GoTyme, with a soft launch from 1 November 2026 and phased rollout in the first quarter of 2027.
UBS Confirmed Closure of Shenzhen Fund Sales Unit in China From End-September
UBS confirmed on Thursday that UBS Fund Distribution (Shenzhen), which runs the WE.UBS digital wealth platform launched in 2022, will cease fund subscription and switching services at the end of September.
Caixa Employees Launch Open-Ended National Strike as Banco do Brasil Faces Partial Shutdown
Employees at Caixa Econômica Federal began an open-ended national strike on Thursday after more than 90% of union bases rejected the state bank's collective agreement proposal, with 27 Banco do Brasil unions also walking out.
Credit Bank of Moscow Classified $8 Billion of Corporate Loans as Problematic
Credit Bank of Moscow disclosed that 671 billion rubles, or more than 27% of its corporate loan portfolio, was classified as problematic at the end of June, a 28% increase over six months.
HSBC Confirmed Wind-Down of German Transaction Services Unit, Cutting More Than 300 Jobs by 2028
HSBC confirmed on Wednesday it is winding down its German transaction services business, phasing out around 300 remaining roles at HSBC Transaction Services GmbH and a further 20 positions by 2028.
JPMorgan Extended Global Corporate Banking Business to Greece, Lifting EMEA Coverage Staff 25%
JPMorgan said on Wednesday it had extended its global corporate banking business to Greece, appointing Konstantinos Makrydakis to lead large and mid-cap coverage after raising EMEA divisional headcount by 25% in two years.
UK Banks Escalate Lobbying Against Budget Tax Rises as Dimon Meets Healey
Britain's banking industry intensified its campaign against Budget tax increases this week, with UK Finance writing to Chancellor John Healey and JPMorgan's Jamie Dimon scheduled to meet him on Wednesday.
China's Finance Ministry Led 360 Billion Yuan Capital Injection Into Eight State Banks, Insurers
Eight state-owned Chinese financial institutions disclosed plans to raise or receive a combined 360 billion yuan, roughly $53.6 billion, with 300 billion yuan funded by special treasury bonds.
Deutsche Bank Settled €152 Million Frankfurt Damages Claim Brought by Former Manager Schiraldi
Deutsche Bank said on Monday it had confidentially settled a €152 million damages claim from former manager Dario Schiraldi, three days before a Frankfurt trial that would have scrutinised chief executive Christian Sewing.
China Unveils $53.6 Billion Capital Injection Into State Banks and Insurers
Eight Chinese state institutions unveiled fundraising and capital plans totalling up to 360 billion yuan, headlined by a 300 billion yuan Ministry of Finance injection.
BofA Assigned Three Senior Bankers to Deepen Coverage of AI Ecosystem Clients
Bank of America has assigned senior bankers Gregg Nabhan, Jill Schwartz and Ray Wood to work across industry groups and deepen relationships with clients in what the lender describes as the "AI ecosystem."