News

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.


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…


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.


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.