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Banks

JSC Bank of Georgia launches the Apple Pay service for its customers in Georgia

1 min read

Bank of Georgia Group PLC (the “Group") announces that JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) today brings its customers Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay. With Apple Pay on iPhone, Apple Watch, iPad and Mac, Bank of Georgia’s customers can make fast and convenient purchases in stores, in apps and on websites.…

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EBRD and partners explore digitalisation in green trade finance

2 mins read

The European Bank for Reconstruction and Development (EBRD) is stepping up its support for the digital transition of trade finance by facilitating test transactions between QNB ALAHLI, Banca Comercială Română and UniCredit on the we.trade digital trade platform. The tests will take place through we.trade’s Preview Offering Program, with a special focus on green trade…

SME borrowing hit by new accounting rules

2 mins read

The FINANCIAL — Changes to global financial reporting regulations are affecting credit access for millions of companies around the world. New rules on bank accounting led to a 15-20% fall in banks’ SME lending between 2018 and 2020, according to new research by Aytekin Ertan, Assistant Professor of Accounting. He also warns that the implications for the…

Retail Banks Face the Urgent Need to Retool Offerings and Strategies

3 mins read

The FINANCIAL – As More Customers Go Digital amid the Pandemic, Banks Must Accelerate Digitization Efforts to Serve Customers Better and Realign Costs, Says a New Report by Boston Consulting Group. Although retail banks globally have reacted to the COVID-19 crisis with speed, dexterity, and purpose—while remaining true to their environmental, social, and corporate governance…

EBRD to co-finance investment projects with Turkey’s Garanti BBVA

1 min read

The FINANCIAL -- The EBRD continues to expand access to finance for Turkish businesses amid the coronavirus pandemic with a new agreement with Garanti BBVA. The EBRD is providing a risk-sharing facility, which – together with Garanti BBVA – will facilitate lending to local companies, primarily small and medium-sized enterprises (SMEs).…

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…

Wells Fargo launches WellsOne – Virtual Card Payments Service

1 min read

The FINANCIAL — Wells Fargo announced today a new solution to help business customers eliminate paper checks by using one-time virtual card numbers to digitally pay invoices through the WellsOne® Virtual Card Payments service. Available to WellsOne Commercial Card customers, this service offers a convenient way to make business payments with the security and control of…

Morgan Stanley launches Institute for Inclusion

1 min read

The FINANCIAL — Morgan Stanley announced the official launch of the Institute for Inclusion (IFI). Funded by an initial commitment of $25 million from the Firm, the Institute for Inclusion will create an integrated and transparent diversity, equity, and inclusion strategy that will drive meaningful change within Morgan Stanley and in support of underserved communities. The Firm…

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

2 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…

American Express enhances Early Pay supply chain solution for large companies

1 min read

The FINANCIAL — American Express announced enhancements to Early Pay in the U.S., the company’s supply chain payment solution to give large companies – and their suppliers – the ability to pay and get paid when they want through an easy-to-use digital platform. Initially launched in 2018, American Express’ Early Pay solution has evolved to provide…

Bank of America announced $2.5 mln contribution to Augusta Community

1 min read

The FINANCIAL — Bank of America announced a $2.5 million grant to the Augusta, Ga. community, dedicated to the redevelopment of the nearby neighborhoods of Harrisburg and Laney Walker. The Augusta National Golf Club and the Masters Tournament in partnership with Bank of America, AT&T and IBM, have committed a total of $10 million to the transformation…

Deutsche Bank opens cash management business in Australia

1 min read

The FINANCIAL — Deutsche Bank has added to its global network of Cash Management locations with the establishment of a new business in Australia. The bank now operates cash management services in 35 locations globally, 14 of which are in Asia Pacific. Australia’s interim CEO Glenn Morgan says adding Australia to the bank’s global network…

ING Bank announced an offer to purchase notes for cash

7 mins read

The FINANCIAL — ING Bank N.V. (the “Offeror”) has launched an invitation to the holders of its (i) 0.375% Fixed Rate Senior Notes due 26 November 2021 (the “November 2021 Notes”); (ii) 4.500% Fixed Rate Notes due 21 February 2022 (the “February 2022 Notes”); and (iii) 0.000% Fixed Rate Senior Notes due 8 April 2022…

EBRD provides €15 mln loan to ProCredit Bank Macedonia

1 min read

The FINANCIAL — A loan of up to €15 million by the European Bank for Reconstruction and Development (EBRD) to ProCredit Bank Macedonia (PCBM) will help local micro, small and medium-sized enterprises (MSMEs) in North Macedonia to cope with the economic fallout of the coronavirus pandemic. The EBRD funds will address the liquidity needs of small businesses that are experiencing a…

EBRD approved €15 million loan to Intesa Sanpaolo Banka d.d. BiH

1 min read

The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to €15 million to Intesa Sanpaolo Banka d.d. BiH in support of local small businesses facing the economic impact of the coronavirus pandemic. The EBRD funds will be on-lent as short-term capital and liquidity support for private companies affected by…

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