Category: News

The Association of Banks in Jordan (ABJ) has recently released a report highlighting the significant contribution of the banking sector to the national economy. According to the report, the banking system added value of 84 per cent to the gross domestic product (GDP) in 2023, compared to 77 per cent in 2022. The report also revealed that the banking sector employed more than 25,000 people, representing 1.8 per cent of…

The banking sector has increased its exposure to non-banking financial companies (NBFCs) by nearly four times since the beginning of 2018, while mutual funds have reduced their exposure by almost a third, according to a report by The Indian Express. Banks lend more to NBFCs amid liquidity crunch The report, based on data from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), showed…

Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, has announced that it has secured a $1.36 billion loan from a consortium of 12 international banks to finance its solar and wind projects in India. The loan is one of the largest ever for a renewable energy project in Asia and reflects the growing confidence of global investors in AGEL’s business model and growth prospects. A landmark deal for…

The collapse of SVB and other banks triggered a deposit flight The US banking sector is facing a serious challenge as customers are withdrawing their deposits from regional and mid-sized banks, following the collapse of Silicon Valley Bank (SVB) and other lenders in early 2023. SVB, which had over $100 billion in assets, failed due to its exposure to risky loans and investments in the tech sector. The bank’s demise…

Chase Bank, along with nine other banks, has filed to close 60 branches in one week, according to a report by The US Sun. The move is part of a trend of branch closures that has accelerated during the pandemic, as more customers shift to online banking. However, some experts warn that the branch closures could pose risks for customers, especially those who rely on physical access to banking services.…

State banks swap and sell dollars for yuan China’s major state-owned banks have been active in the currency market this week, swapping yuan for U.S. dollars in the onshore swap market and selling those dollars in the spot market to support the yuan, two sources with knowledge of the matter said. The state bank actions come at a time when the yuan is facing downward pressure from a broadly weaker…

BOJ warns of potential losses from rate swings The Bank of Japan (BOJ) has warned that the country’s banks could face significant losses if interest rates rise sharply, as the economy emerges from decades of deflation. The central bank said in its semi-annual financial system report that the prolonged low interest rate environment has eroded the profitability and resilience of banks, making them more vulnerable to interest rate risks. The…

Technology is transforming every aspect of business, from operations to customer experience. To stay ahead of the competition and seize new opportunities, companies need to have a clear vision and strategy for digital transformation. But how can boards of directors ensure that they are providing effective oversight and guidance for their companies’ technology initiatives? According to a recent article by Forbes, there are five principles that can help boards become…