Tuesday , May 23 2017

Banking

PBOC turns to big data for financial supervision

Bloomberg China’s central bank said it created a new unit to address emerging financial security challenges brought by technological innovations. The People’s Bank of China set up a committee to improve financial technology research and coordination and will study how it affects monetary policy, markets, financial stability, payments and clearance, ...

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Barclays confirms brighter forecast for global economy

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Bloomberg Barclays revealed on Sunday its latest tactical investment recommendations in its Q2 2017 ‘Compass’ report, published by Barclays’ Private Bank. The latest edition of the Compass research report, which examines major asset classes globally, maintained its overweight allocation to Developed Markets Equities stating that the US and Europe stock ...

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Singapore banks’ wealth investments finally pay off

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Bloomberg Singapore’s big three banks have invested heavily in their wealth-management businesses over the past year and the results are starting to show. Higher income from servicing Asia’s more well-heeled individuals helped DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. (OCBC) and United Overseas Bank Ltd. (UOB)offset bad-loan provisions and weaker ...

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CIBC wins approval for $4.9bn takeover of PrivateBancorp

A customer uses an ATM (automated teller machine) at an Canadian Imperial Bank of Commerce (CIBC) branch in downtown Vancouver, British Columbia, Canada, on Thursday, Monday, May 28, 2015. Canadian Imperial Bank of Commerce posted fiscal second-quarter profit that beat analystsí estimates, led by gains in wholesale banking and wealth management. Photographer: Ben Nelms/Bloomberg

Bloomberg PrivateBancorp Inc. investors approved a $4.9 billion takeover by Canadian Imperial Bank of Commerce (CIBC) after the Toronto-based lender sweetened its deal twice to win over shareholders. The majority of PrivateBancorp shareholders endorsed CIBC’s bid, the Chicago-based lender said in a statement following a vote at a special meeting. ...

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