IMF Scrutinizes Bangladesh Banks Over Capital Shortfall
The IMF has raised serious concerns over Bangladesh's banking sector, where a capital shortfall has exceeded Tk1.55 lakh crore across 24 struggling banks.
#Bangladesh#IMF#Banking
#Banking
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US Retailers Face Chaos as Penny Supply Dries Up
An abrupt halt in U.S. penny production has sparked a nationwide shortage, forcing retailers to absorb financial losses from rounding down transactions.
#US Economy#Retail#Banking
Santander Reports Sixth Straight Quarter of Record Profits
Banco Santander has reported a record net profit of €3.50 billion for the third quarter, marking its sixth consecutive quarter of record earnings, largely due to strong performance in the U.S.
#Banco Santander#Banking#Corporate Earnings
Wells Fargo Announces 444 Layoffs Across Three Oregon Cities
Wells Fargo has announced plans to lay off 444 employees across its Hillsboro, Salem, and Portland offices, with the job cuts taking effect on December 26.
#Wells Fargo#Layoffs#Oregon
HSBC Warns of Private Credit Risks Amid Profit Fall
HSBC's CFO Pam Kaur warns of risks from counterparties exposed to private credit losses, despite the bank lifting its full-year profit guidance. Third-quarter profits fell 14% to $7.3 billion, impacte
#HSBC#Private Credit#Banking
Evolve Bank & Trust CEO Bob Hartheimer Arrested by FBI
Evolve Bank & Trust CEO Bob Hartheimer was arrested by the FBI on Thursday in connection with a personal matter, according to sources close to the situation.
#Evolve Bank & Trust#Banking#Corporate Leadership
Citigroup CEO Jane Fraser Named Chair, Receives $25M Bonus
Citigroup has elevated CEO Jane Fraser to the role of chair and awarded her a $25 million bonus, signaling strong board confidence in her ongoing strategic overhaul of the Wall Street bank.
#Citigroup#Jane Fraser#Banking
NY Inflation Checks Face Deposit Hurdles at Major Bank
New Yorkers receiving inflation relief checks are facing deposit roadblocks, as Chase Bank has blocked mobile deposits for the funds, citing fraud concerns.
#Personal Finance#Banking#New York
Wells Fargo CEO Downplays Systemic Risk in Private Credit
Wells Fargo CEO Charlie Scharf commented on the private credit market, suggesting that while risks exist, they do not currently pose a systemic threat to banks.
#Wells Fargo#Private Credit#Charlie Scharf
AWS Outage Disrupts Major Banks and Fintech Services
A major Amazon Web Services outage in its Virginia data center caused widespread disruptions for banks like Navy Federal and fintechs like Chime on Monday.
#AWS#Cloud Computing#Banking
Japan Considers Allowing Banks to Hold Bitcoin
Japan's financial regulators are considering allowing banks to hold Bitcoin as an investment, while the nation's top three banks plan a joint yen stablecoin.
#Japan#Bitcoin#Cryptocurrency Regulation
Gaza Banks Reopen to Empty Vaults Amid Severe Cash Crisis
Banks in Gaza reopened after a truce, but a severe lack of physical currency left customers unable to withdraw their own money, worsening a deepening financial crisis.
#Gaza#Humanitarian Crisis#Economic Crisis