All articles by Verdict Staff
Verdict Staff
HSBC scraps pay freeze plan after staff protests
Banking giant HSBC has abandoned plans to freeze pays this year following staff protests barely two weeks after introduction.
Chase Bank joins forces with Postbank
Chase Bank has signed a partnership deal with Kenyas Postbank to boost its distribution networks across Kenya.
BBVA pumps $250m into fintech venture fund
Spanish banking group BBVA has announced plans to infuse $250m into a new venture fund known as Propel Venture Partners after shutting down its in-house venture fund.
Commerzbank swings to profit in Q4
German lender Commerzbank has reported an attributable net profit of EUR187m for the fourth quarter of 2015, compared to a loss of EUR280m in the year ago quarter.
Indias banks struggle with bad loans
According to analysts, Indias banking system is struggling under stressed loans (including restructured loans) worth $100 billion.
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Avaloq becomes sole owner of its Swiss BPO centre
Avaloq has agreed to acquire BSI SAs remaining interest in B-Source SA. The deal makes Avaloq the sole owner of its Swiss BPO centre.
FirstBank selects Entersekt to enhance mobile banking security
Colorado-based lender FirstBank has selected Entersekt’s multi-factor authentication product known as Transakt to improve mobile banking security.
Hampton Roads Bankshares, Xenith Bankshares to merge in $107.2m deal
Virginia-based lenders Hampton Roads Bankshares (HRB) and Xenith Bankshares have agreed to merge in a deal worth about $107.2m, creating the states fifth-largest community bank by deposits.
U.S. Bank names new chief for community banking business
U.S. Bank has appointed Mark Jorgenson, its market president for Kansas City region, as new head of its community banking business.
Societe Generale net income jumps 20% in Q4
French lender Societe Generale has reported a net income of EUR656m in the fourth quarter of 2015, a rise of 19.5% compared to EUR549m in the year-ago quarter.