Bank of America has been ordered to pay more than $1.21 billion in penalties over failures to meet US anti-money-laundering and sanctions requirements, in an enforcement action that the Treasury Department described
by Our Economic Affairs Editor The Bank for International Settlements (BIS), a name that to the uninitiated might sound benign, bureaucratic, and perhaps faintly dull, has long been cloaked in a veil
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Kuwait Petroleum Corp. (KPC) has enlisted JPMorgan Chase & Co. to advise on a potential leasing deal involving part of its pipeline network, according to people familiar with the matter. The state-run
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HSBC faces a period of uncertainty as Mark Tucker prepares to step down as chair on Tuesday, ending an eight-year tenure at Europe’s largest lender. The departure leaves the bank without a
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NDB Bank reaffirmed its commitment to supporting Sri Lanka’s exporters by hosting a successful Exporter Forum in Kandy, bringing together exporters, business leaders, and key stakeholders to share insights and explore strategies
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HSBC Sri Lanka has agreed to sell its retail banking business to Nations Trust Bank PLC (NTB) in a landmark deal valued at LKR 18 billion. The transaction, announced today, includes HSBC’s
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New Zealand is poised to appoint a woman to lead its central bank for the first time, a move aimed at restoring credibility after a period of leadership turmoil, according to a
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Sherard Cowper-Coles, HSBC Holdings Plc’s former head of public affairs, is reportedly considering a senior role at the Asian Infrastructure Investment Bank (AIIB) in Beijing, according to people familiar with the matter,
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JPMorgan Chase & Co. is ramping up its mid-cap banking operations in Austria and central Europe, targeting private and family-owned businesses with dedicated relationship managers. The U.S. banking giant has appointed Philippe
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Deutsche Bank (NYSE:DB) Chief Executive Officer Christian Sewing is facing a multimillion-pound lawsuit brought by former employees who claim that a flawed internal audit, overseen during his tenure as chief auditor, damaged
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by Our Correspondent in Colombo A Sri Lankan state-owned bank has reportedly refused to open an account for a Russian diplomat posted in Colombo, drawing attention to possible implications for Sri Lanka’s
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Bank of America Corp. is preparing a shake-up of its senior leadership as it looks to narrow the pool of potential successors to Chief Executive Officer Brian Moynihan, Bloomberg reported, citing people
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China is preparing to address a massive backlog of unpaid bills owed by local governments to the private sector, estimated by some sources to exceed $1 trillion, according to people familiar with
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When HSBC Holdings Plc’s departing chief executive Noel Quinn walked out of the bank’s London headquarters for the final time in September 2024, he shared a heartfelt hug with his successor, Georges
More JPMorgan Chase has hired a record number of senior commercial and investment bankers over the past year, in a sweeping recruitment campaign aimed at boosting its market share across key sectors and
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The US Department of Justice (DOJ) has asked a court to dismiss allegations that it failed to properly investigate sanctions violations by Standard Chartered, a case that has drawn attention at the
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