[ Citigroup on Friday reported a $1.8 billion loss for the fourth quarter as it recorded charges to refill a government deposit insurance fund and carry out a sweeping internal reorganization. CEO Jane Fraser called the results “very disappointing,” but expects this year to be a turning point. “We made substantial progress simplifying Citi and … Read more
[ KUALA LUMPUR: Affin Bank Bhd said its major shareholder – Lembaga Tabung Angkatan Tentera (LTAT) – has confirmed a news report that the armed forces fund is in discussions with the Sarawak State Financial Secretary for the “possible transaction of additional shares” in the bank. “Upon enquiry with LTAT, the major shareholder of the … Read more
[ PETALING JAYA: AEON Credit Service (M) Bhd’s associated company, AEON Bank (M) Bhd, has obtained approval from Bank Negara Malaysia and the Finance Ministry to commence its digital banking operations in Malaysia. In a statement, the group said this positions AEON Bank as the first Islamic digital bank in Malaysia. “The approval was granted … Read more
[ Maybank has announced via its website that customers will not be able to access both the app and web versions of Maybank2u, Maybank2u Biz, and MAE due to a scheduled system maintenance on Jan 14. The maintenance period will be from 3am to 6am on the day, with Maybank recommending its customers to perform … Read more
[ It is not “that difficult” for people to get on to the housing ladder, the chairman of the NatWest Group has said. Speaking on the Today programme on Radio 4, Sir Howard Davies said that while people have to save to buy a property “that’s the way it always used to be”. Pressed by … Read more
[ KUALA LUMPUR: RHB Banking Group has appointed Datuk Fad’l Mohamed as the new managing director of group wholesale banking (GWB), effective Feb 2, 2024. Fad’l will succeed Syed Ahmad Taufik Albar, who resigned from the Group on Jan 3, 2024. In a statement, RHB said Fad’l brings a wealth of knowledge and experience in … Read more
[ KUALA LUMPUR: Maybank Investment Bank Bhd (MIBB) has appointed its current chief operating officer (COO), Tengku Ariff Azhar Tengku Mohamed, as its officer-in-charge with immediate effect. In a statement, MIBB said the appointment comes following the resignation of its chief executive officer, Datuk Fad’l Mohamed. “Tengku Ariff will take on the day-to-day management of … Read more
[ KUALA LUMPUR: Bank Islam Malaysia Bhd has announced changes to its board composition, with Syed Hamadah Syed Othman (pic) appointed as the non-independent non-executive director effective Jan 1, 2024. “Syed Hamadah’s appointment will strengthen the Group’s Board composition as Bank Islam remains steadfast in executing its five-year strategy roadmap (LEAP25), aimed at becoming the … Read more
[ KUALA LUMPUR: Malayan Banking Bhd (Maybank) is offering flood relief assistance to ease the financial burden faced by individuals, small and medium enterprises (SME), and other non-retail Maybank customers affected by the floods. The list of assistance includes deferment of financing/loan repayment, a reduction in monthly instalments, or an extension of repayment tenure. In … Read more
[ A quarter of people in relationships confess to using their joint account to pay for a purchase they didn’t tell their partner about, according to a report. Research from digital bank Monzo has found that almost a third of people (32 per cent) bought clothes for themselves on their joint account, with a fifth … Read more
