News

China & India named the largest shareholders of a new bank.

According to the delegates of the AIIB founders meeting, China will likely have a 25-30% share in the Asian Infrastructure Investment Bank (AIIB), and India probably will be the second large shareholder.


SWITZERLAND: Finter Bank to pay $5 million to avoid prosecution

Another Swiss bank, Finter, has agreed to enter into a non-prosecution settlement with the Department of Justice in the US. Finter Bank decided to pay a charge and cooperate with all legal proceedings and will provide any requested details in relation to this. Undisclosed accounts managed in the US have…


Valartis Bank: customers show concern over recent substantial losses

In April 2015 a report was released on the financial situation of the Valartis Group, showing figures by the losing party for the sum of $76.79 million. Understandably this caused dismay to many investors of the bank in Liechtenstein. However, it is worth noting that the profit also showed to be around…


Global banks to introduce buffer in event of future crises

Global regulators are proposing new rules to ensure that bank creditors pay the expense as opposed to the current situation of the taxpayers fitting the bill when a big lender collapses. Mark Carney, the chairman of the Financial Stability Board and Bank of England Governor, said the plans marked a turning point in ending banks that were too influential to be allowed to fail.


Standard Chartered Bank to close the branches in 2015

Standard Chartered Bank will close up to 100 bank branches next year in Asia, Africa and the Middle East in an attempt to improve its profitability. The UK bank plans to reduce approximately 8% of its global network, consisting of more than 1,200 branches which will save $400m (€319m) a year.


Banks charged $4.3 billion in global FOREX investigation

Regulators from the US and the UK fined six major banks a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a global investigation lasting almost a year.


British Business Bank supports alternative lending for SMEs

Shire Leasing has received an £80 million boost thanks to an investment by the British Business Bank and the private sector which will revolutionise SME funding.


Cyprus and Troika: how will the situation progress?

The government in Cyprus is reportedly doing its best to limit any consequence from the recent foreclosures situation as the Eurogroup has a meeting to discuss the island’s progress in implementing its adjustment programme.