[ SINGAPORE: A married woman entered into a relationship with a man she met online, and agreed to open a bank account on his behalf. Lim Gek Hong’s online boyfriend identified as “Kelvin Lin” used the account to dupe two people in an Internet love scam, and they lost S$167,000 in total in early 2023. … Read more
[ KUALA LUMPUR: MIDF takes the recent cyber security incident seriously and continues to uphold the privacy and security of its customers’ information. “We have isolated the incident and taken immediate corrective actions to minimise potential impact, including informing the affected customers. Additionally, we have further enhanced our security measures to prevent such occurrences in … Read more
[ KUALA LUMPUR: Bank Islam Malaysia Bhd managed to mitigate the impact of the static overnight policy rate (OPR), leading to an improved net income margin (NIM) over the course of last year. Group chief executive officer Datuk Mohd Muazzam Mohamed said there was a sequential improvement in its NIM from 2.06 per cent in … Read more
[ Goldman Sachs’ profit rose 28% in the first quarter, buoyed by a recovery in underwriting and dealmaking that boosted its investment banking unit, it reported on Monday. Profit rose to $4.13 billion, or $11.58 per share, for the three months ended March 31, compared with $3.23 billion, or $8.79 per share, a year ago. … Read more
[ SHANGHAI/SINGAPORE: China’s central bank on Monday left a key policy interest rate unchanged as widely expected when rolling over maturing medium-term loans, and drained some cash from the banking system through the bond instrument. WHY IT’S IMPORTANT Keeping the medium-term lending facility (MLF) rate steady underscores the central bank’s intention to maintain currency stability … Read more
[ Citigroup’s profit fell in the first quarter as it spent more on severance payments for laid-off employees and set aside money to refill a government deposit insurance fund. Net income fell to $3.4 billion, or $1.58 per share, in the three months ended March 31, the bank said on Friday. That compares with $4.6 … Read more
[ SEOUL: South Korea’s central bank said on Friday greater uncertainty on the inflation outlook and the strength of exports argued against a near term push to cut interest rates after the bank left the policy rate steady at a 15-year high. “To give a six-month ahead outlook or so, all of the board members … Read more
[ KUALA LUMPUR: Bank Negara Malaysia (BNM) has required two banks which experienced services outages recently to provide a full explanation of the root cause leading to the incidents. The central bank said in a statement on Tuesday night that both banks were also required to provide corrective and preventive measures undertaken to avoid a … Read more
[ JPMorgan Chase’s board said an orderly CEO transition is a top priority for the largest U.S. bank in the medium term, 18 years after Jamie Dimon took the helm. Succession is in focus across Wall Street. Morgan Stanley’s new CEO Ted Pick took over at the start of the year from James Gorman, who … Read more
[ RHB Banking Group is eyeing several key industries to enlarge its market share in the small and medium enterprise (SME) segment. Currently, the fourth-largest financial services group in Malaysia commands close to 8% of the local SME market and targets to improve it further within the next three years. Read original article here Denial … Read more
