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Share to Twitter Share to Linkedin Banks, in one fashion or another, have been central to functioning societies for hundreds of years. It’s estimated that in the U.S. nearly every single citizen ( 92% ) has an account with a traditional bank. One reason these institutions hold a majority of consumers’ accounts is because of their longevity: No matter what’s happening in the world, they tend to come out on the other side. Another reason so many people rely on traditional banks is that, until fairly recently, the only other options they had were other banks with fairly comparable offerings. When digital challenger banks and fintechs (think: Chime, Ally Bank, SoFi) began arriving on the scene, consumers had more banking options than ever before. These new banks have been able to appeal to consumers in ways that traditional banks have not–with low or no fees, a mix of low-interest borrowing and high-interest saving options, digital interfaces, fresh, … [Read more...] about Why This Fintech Company Is Eyeing Traditional Companies As It Builds A New Breed Of Banks

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × LKP Research's research report on Canara Bank Canara Bank has been reporting consistent growth in net profit since previous ten quarters. In 3QFY23, the profitability increased by 92% YoY and 14% sequentially on the back of lower provisioning expenses. A bulky provision (₹54bn) made in 4QFY20 (two years ago), continued to safeguard the balance sheet from delinquencies out of restructuring with PCR (calculated) of 68.2% and PCR (including TWO) of 86.3%. On asset quality front, the GNPA/ NNPA ratio (5.90%/1.96%) improved by 47bps and 23bps respectively on the back of lower NPA addition of ₹32bn. The slippages ratio (reported) marginally down at 34bps v/s 35bps in the previous quarter. The cumulative SMA1/2 book also eased to 49bps v/s 51bps in 2QFY23. On the business front, the bank has reported … [Read more...] about Buy Canara Bank; target of Rs 349: LKP Research

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Anand Rathi's research report on DCB Bank Higher opex counterbalanced DCB Bank’s strong NII growth, keeping the C/I ratio above 60%; benign credit cost, however, aided profitability, with the RoA coming near ~1%. Higher slippages kept asset quality under pressure. Key positives for the quarter were 1) collection efficiency improving across key segments, 2) strong recoveries/upgrades, 3) decline in stress across core segments (excl. Corp.) and 4) strong traction in disbursements across key segments. With credit growth expected to pick up and normalising credit costs, earnings would improve. Outlook We retain our Buy rating, with a TP of Rs146, valuing the stock at 0.8x P/ABV on the FY25e book. For all recommendations report, click here Read More Disclaimer: The … [Read more...] about Buy DCB Bank; target of Rs 146: Anand Rathi

As markets bet that interest rate rises will slow and , in the case of the US Federal Reserve, even go into reverse. But some investors have doubts. Harriet Clarfelt and Kate Duguid in New York and Valentina Romei in London Leading central banks are due to raise interest rates this week to the highest levels since the financial crisis, stoking anxiety among some investors that this month’s bond market rally underestimates evidence of persistent inflation. Bond prices have rapidly rebounded since the start of the year from last year’s historic sell-off, as markets bet that interest rate rises will slow and, in the case of the US Federal... … [Read more...] about Central banks set to lift interest rates to 15-year highs as investor jitters grow

Bank of America ( BAC ) is one of the world's largest investment banks and financial institutions. It serves a broad range of customers, including individual consumers, wealthy investors, large corporations, and governments. The company offers a wide range of banking, investing, asset management, and other financial and risk management products and services. The bank operates primarily in the U.S., where it gets the vast majority of its revenue, as well as in dozens of countries around the globe. The company faces a broad array of competitors, including JPMorgan Chase ( JPM ), Citigroup ( C ), Goldman Sachs Group ( GS ), credit card issuers like Visa ( V ), hedge funds, and private equity firms. The Charlotte, North Carolina-headquartered company expanded from a regional player into a global giant through a series of major acquisitions in the past several decades. Key Takeaways Bank of America is one of the world's largest investment banks and financial … [Read more...] about How Bank of America Makes Money: Consumer Banking

Startups are hard, hard work. You're probably stepping out of your comfort zone for the first time and in addition to taking a chance on your idea yourself, you're also taking on the responsibility of other people in your employ. It is stressful, and rightly so. A lot of startups fail in the early years , and while most of these failures are related to a lack of innovation, or the right business model, there are still some that succumb to unforeseen setbacks. Even with the right idea, and a strong business case, what challenges most startups in the early stages is that you have a small team, and great ambitions. And this core team doesn't necessarily have someone representing each area of the business, which can become a challenge, particularly where technology is concerned. From an IT and infrastructure standpoint, startups need to create secure apps and websites that work across all mobile devices, navigate data security for their website and app users, and deliver … [Read more...] about Taking Care of Business, with API Banking by IDFC FIRST Bank

Share to Twitter Share to Linkedin Ravi Metta, Chief Technology Officer at Finastra . For banks and financial institutions, making the transition to the cloud is a critical milestone on the path of digital transformation. Cloud-based technology supports a more secure, resilient, scalable and agile business model. Migrating from on-prem or third-party hosted solutions to the cloud also enables banks to bring new services to market faster and create a more frictionless customer experience. The cloud is increasingly becoming the industry standard for technology. IBM’s 2021 CloudPath Survey predicts that by 2024, banks will be spending nearly one-quarter of their IT budgets on public cloud services. The shift is underway, but market conditions, including pressures related to inflation and rising interest rates, may impact banks’ ability to invest in technology. In addition, misconceptions around cost and complexity persist, despite the existence of … [Read more...] about Four Key Considerations For Banks Moving To The Cloud

Bangko Sentral ng Pilipinas. (File photo / Philippine Daily Inquirer) Loans extended by the country’s large banks grew by 13.4 percent year-on-year to a total of P10.9 trillion in December 2022, slower than the 13.9 percent recorded in November as banks were more sensitive to risk during the fourth quarter of 2022. Preliminary data at the Bangko Sentral ng Pilipinas (BSP) also show that, in December, outstanding loans of universal and commercial banks—net of short-term loans to the BSP—was 0.4 percent less compared with November. Philippine residents borrowed 13.2 percent more, slower than the growth rate of 13.6 percent in November. In December, loans granted to businesses grew by 12.1 percent, also slower compared to 12.6 percent in the previous month. The biggest amount was lent to companies engaged in real estate activities, growing by 13.1 percent to P2.18 trillion; manufacturing by 14.9 percent to P1.25 trillion; electricity, gas, steam and air-conditioning supply by … [Read more...] about BSP: Growth in bank lending slowed to 13.4% in Dec ’22

As a startup founder, knowing how to navigate different sources of finance for your startup is a pivotal skill. Not all sources of finances augment your business in the same way, neither do they have similar costs nor do they offer the same level of freedom. Strategically applying each source of capital at the right stage to the right set of expenditures is key here. Let's begin with the sources. Bootstrapping This is when you tap into your own savings, or that of your friends and family circle, to get your business started. This is the stage where you need maximum freedom to try new things, and work out whether or not your business idea has the potential to become a real business. What this means is that this is also the stage when you're going to make a lot of mistakes. Your 'investors' can't (and shouldn't!) question your every move. That level of trust, however, usually comes from your own bank account, and from the friends and family who implicitly trust you, and your … [Read more...] about Startup Finance 101: When should you approach banks?

The Nifty remained highly volatile but managed to close 13 points higher at 17,662 on January 31, a day ahead of the Union Budget 2023 to be presented in Parliament by Finance Minister Nirmala Sitharaman. Buying in banks, auto, FMCG and metal stocks supported the market, however, selling in technology, pharma and oil & gas stocks capped the upside. The benchmark index formed a bearish candle on the daily charts with long lower shadow, indicating support-based buying. It surpassed the resistance level of 17,700 in the opening but could not hold on to it. The level of 17,700 could be the initial hurdle on the budget day followed by 17,800-18,000. The index has strong support at 200 daily exponential moving average (DEMA) at 17,550), which it defended for third consecutive day on January 31. A break can bring more selling pressure, experts said. Read More "The Nifty found resistance near 17,750. As long as the index is holding the 17,500 support zone, the … [Read more...] about Technical View | Nifty forms bearish candle, more volatility expected on Budget Day