Canada’s largest international bank, the Bank of Nova Scotia, has recently revealed that it is in exploratory talks with Spanish Banco Bilbao Vizcaya Argentaria (BBVA) to purchase up to 100 percent of its retail bank operations in Chile.
In both the United States and Europe, debt levels are climbing due to the peaking of private-equity activity. Low rates have encouraged leveraged transactions, for which the level of debt has increased with the rise in prices that investors are ready to pay.
The British CCP Research Foundation published on August 11 its latest report “Conduct Costs Project Report 2017”, which estimates the total amounts paid or provisioned by banks because of misconduct or breach of any code of conduct or any central-bank regulation.
American Apollo Global Management LLC, the world’s second-largest fund manager, broke the record for the largest fund in the history of private equity in July: it raised the largest ever private equity fund since 2007’s financial crisis, with $24.6 billion. Apollo plans to invest in North America and Western Europe.
Recently, the euro’s increase in value even accelerated after breaking the psychological bar of US$1.15. It reached $1.1665 on July 21, the highest level since January 14, 2015. Since the beginning of the year, it has gained 10.4 percent. The range between $1.5 and $1.20 per euro seems to be the currency’s new comfort zone.
Banco Santander of Spain is looking for a partner to handle a major cleaning. This is to get rid of the toxic assets, nonperforming buildings and credits that it inherited from Spanish Banco Popular, acquired last June for 1 euro symbolically when the latter was on the brink of bankruptcy.
Swiss banks have had to totally change their approaches for wealthy clients, because of fiscal-transparency obligations. After the Crédit Suisse and UBS scandals, the Swiss banking sector had to clean up their image regarding tax evasion
The Payment Services Directive 2 (PSD2) creates a new vital context for commercial banks. It is requiring banks to open access to their systems and clients’ accounts.
Peer-to-peer (P2P) lending is a fast-developing market. Its growth during the period 2016-20 is estimated in a report from Research and Markets titled “Global Peer-to-peer Lending Market 2016-2020″to be an annual rate of 53.06 percent.
In India, strong economic growth should continue at 7.3 percent in 2017 and 7.7 percent in 2018, helped by the implementation of key structural reforms and strong public-sector wage growth.