News

German bank Deutsche Bank announced its plans to launch an electronic foreign exchange (e-FX) hub in Singapore. The bank will establish the hub by developing an FX trading and pricing engine, in conjunction with the Monetary Authority of Singapore...

Bangkok Bank has wrapped up its previously announced acquisition of a stake of 89.12% in Indonesian lender Bank Permata for $2.28bn from Standard Chartered and Astra International. Under the deal announced in December 2019, Bangkok Bank acquired 44.56% stakes each...

ZYNLO Bank (ZYNLO), a digital-only startup powered by PeoplesBank, has launched in Madison, Wisconsin. As a comprehensive digital bank offering, ZYNLO provides a wide range of online and mobile banking, P2P, and mobile pay service, as well as a...

Texas Capital Bancshares and Independent Bank Group have mutually scrapped their previously announced $5.5bn merger deal owing to the impact of the Covid-19 pandemic on global markets. The Texan bank holding companies also said that the pandemic has a significant...

Samsung Electronics America, in partnership with fintech company SoFi and Mastercard, has rolled out a new mobile-first money management offering Samsung Money by SoFi. The new Samsung Money by SoFi includes a cash management account and accompanying Mastercard debit card...

Japanese conglomerate Sony announced that it will take full ownership of Sony Financial Holdings (SFH), its financial services business arm via a tender offer worth nearly JPY400bn ($3.72bn). Currently, Sony owns a stake of around 65% or 283,050,000 shares in...

The European Bank for Reconstruction and Development (EBRD) is providing a new boost to Turkey’s banking sector amid the coronavirus pandemic with a US$ 55 million loan to Garanti BBVA, the second-largest private lender in the country. The funds...