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Bank of America Consumer Clients Make $294 Billion in Payments in February, up 16% Year-Over-Year

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7 mins read

The FINANCIAL — Bank of America announced their approximately 67 million clients made $294 billion in total payments during February, a 16% increase over February 2021. This follows a 5% increase in total payments in February 2021 when compared to pre-pandemic levels in February 2020. This marks a continuation of the strong consumer payments and spending observed in January, as well as a record $3.8 trillion in total payments in 2021.…

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Bank of America Consumer Clients Make $294 Billion in Payments in February, up 16% Year-Over-Year

7 mins read

The FINANCIAL — Bank of America announced their approximately 67 million clients made $294 billion in total payments during February, a 16% increase over February 2021. This follows a 5% increase in total payments in February 2021 when compared to pre-pandemic levels in February 2020. This marks a continuation of the strong consumer payments and…

How has net financing for UK businesses changed during the pandemic?

2 mins read

The FINANCIAL — UK businesses have weathered the pandemic by raising finance from banks, financial markets and government schemes. Now, many have begun to repay their loans. Since March 2020, UK businesses have raised around £77 billion of net additional financing from UK banks and global financial markets, materially higher than the average raised in…

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Photo by Sandro Cenni, Unsplush

Just one in 10 UK small businesses worried about debt – but concerns linger over future growth

4 mins read

The FINANCIAL — Vast majority of UK business content with current levels of debt. Profit squeeze seen as biggest barrier to future growth. Third of businesses would not contact their bank if worried about finances, according to Lloyds Bank.…

Deutsche Bank extends its partnership with Frieze

3 mins read

The FINANCIAL — Deutsche Bank has announced the long term extension of its partnership with Frieze, in support of artistic excellence and the shared vision of a diverse and thriving global community of emerging artists.…

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Bank of America Increases US Minimum Hourly Wage to $21 as Next Step to $25 by 2025

2 mins read

The FINANCIAL — Bank of America announced it has raised its U.S. minimum hourly wage to $21 as a next step in the company’s plans to increase to $25 by 2025. In May, the company also announced that all of its U.S. vendors are now required to pay their employees dedicated to the bank, at or…

Bank of America Exceeds Five-Year Goal to Hire 10,000 Individuals From Low- and Moderate-Income Communities

3 mins read

The FINANCIAL — Bank of America announced it has exceeded its five-year goal two years ahead of schedule to hire 10,000 teammates from low- and moderate-income (LMI) neighborhoods through its Pathways program. The bank also announced Pathways is expanding across the company due to its success, and has committed to making an additional 10,000 LMI hires…

BSTDB Expands Support for Russian SMEs Amid Pandemic

3 mins read

The FINANCIAL -- The Black Sea Trade and Development Bank (BSTDB) is providing a RUR 2 billion loan facility to Locko Bank for on-lending to small and medium-sized enterprises (SMEs) in Russia.…

Isold Heemstra named as country manager for ING France

1 min read

The FINANCIAL — Isold joined ING in 2002 and has vast international experience in management, sales and change projects. He is currently the country manager of Czech Republic, where he successfully transformed the organisation in preparation for the launch of new retail products, doubled Wholesale Banking lending assets and was instrumental in building a solid…

Morgan Stanley announced $1.3 mln grant to Columbia University Department of Psychiatry

4 mins read

The FINANCIAL — Morgan Stanley announced a grant of $1.3 million to the Columbia University Department of Psychiatry at the Vagelos College of Physicians and Surgeons to advance children’s mental health research in an effort to raise awareness, drive innovation, and inform intervention strategies and actions. This funding will support Columbia University’s scientific research to…

Deutsche Bank expands Asia Pacific ESG team

3 mins read

The FINANCIAL — Deutsche Bank has appointed Kalpana Seethepalli to its Asia Pacific ESG team. This hire follows the appointment of Kamran Khan as Head of ESG for Asia Pacific in May of this year. In a newly created role, Kalpana will lead the team’s work on results frameworks, measurement, monitoring, and sustainable finance taxonomies…

Credit Suisse digital bank offering available from today

4 mins read

The FINANCIAL — The Credit Suisse digital bank offering announced in mid-September ‒ CSX and CSX Young ‒ is available to individuals in Switzerland from today: The CSX app can now be downloaded from the App Store and Google Play Store. It only takes a few minutes to create an account using a smartphone, and…

Morgan Stanley issued $1 bln social bond to support affordable housing

3 mins read

The FINANCIAL — Morgan Stanley (NYSE: MS) announced the issuance of a $1 billion social bond to support affordable housing projects, the latest step in the Firm’s ongoing strategy to advance market-based solutions to address sustainability challenges. This issuance follows the inaugural green bond issued by Morgan Stanley in 2015, which supported various renewable energy and…

Credit Suisse and AXA launch integrated bancassurance services

2 mins read

The FINANCAIL — Credit Suisse is launching integrated bancassurance solutions for clients in collaboration with AXA. These solutions will be incorporated into CSX to complement this comprehensive digital offering from a single app. The CSX digital banking offering to be launched next week enables clients to carry out all their banking business in one app. The…

Societe Generale to become bank of tomorrow

6 mins read

The FINANCIAL — Societe Generale digital transformation acceleration, initiated several years ago, is based on two key levers, technology and innovation, to better serve clients. New technologies are innovation accelerators to better support clients whose needs and usages constantly evolve. As a traditional bank, its technological baggage needed to evolve, more particularly towards more modular and…

Bank of America to invest $22.1 mln in Neighborhood Builders and Neighborhood Champions programs

3 mins read

The FINANCIAL — Bank of America announced a $22.1M investment in support of nonprofit leadership and sustainability through its Neighborhood Builders and Neighborhood Champions programs. The 142 awardees from across the U.S. are organizations leading the charge to address tough issues related to economic mobility – from workforce readiness and basic needs to broader community development solutions.…