Last-minute Cyprus deal approved without vote, offshore finance industry killed in the process
- Published on Monday, 25 March 2013 08:26
- 1 Comment
Islamic banking assets grow faster than conventional banking assets
- Published on Thursday, 21 March 2013 08:45
- 0 Comments
Islamic banking assets with commercial banks in the GCC* reached $445 billion at the end of 2012, up from $390 billion in 2011, with the outlook for the industry remaining relatively positive in 2013. This represents a 14 percent year-on-year growth, which is considerably lower than the five-year average of 19 percent.
Money-laundering and other poor decisions put breaks on HSBC’s revenue growth, 5,000 more jobs might be cut
- Published on Wednesday, 20 March 2013 08:11
- 11 Comments
Though HSBC’s problems became clear only during the financial crisis, some of the problems were present well before 2008. Let’s start first with 2003. This was the year HSBC acquired Household International in the US. A well-known predatory lender, which had its run-ins with the law for its predatory practices. HSBC, a global bank by all standards, was merely a New York bank in the US, with a few branches in Miami and Los Angeles. The pressure was on senior management to make a significant acquisition in the US to enhance its footprint in the market.
EU and IMF ask Cyprus to steal from its depositors in return for bailout
- Published on Sunday, 17 March 2013 12:05
- 12 Comments
UAE banks go after riskier clients in order to grow loans and credit cards
- Published on Sunday, 03 March 2013 06:46
- 0 Comments
Stockbrokers are being inundated with inquiries from banks trying to sell them credit cards and loans as the recent rally in stocks bolsters confidence in the equities market.
It follows several years of some banks giving brokers a wide berth when selling their products, perceiving them as “high risk” during the global financial crisis.