John McCormick, a seasoned content executive, has joined Royal Media as Editorial Director. McCormick comes to Royal from SourceMedia, where he had the same title for 10 years. He was also a longtime senior editor at Ziff Davis. As Royal’s Editorial Director, a newly created position, McCormick will take responsibility for all Royal content production, […] via Tumblr John McCormick Joins Royal Media to Manage Content Production
0 Comments
“It was definitely a surprise when some of the other banks had better-than-expected loan growth,” said R.J. Grant, head of trading at Keefe, Bruyette& Woods. Bank of America’s total loan book grew 0.3 percent to $930 billion during the third quarter compared with the year-ago period. On a conference call with reporters, Chief Financial Officer Paul Donofrio said… via Tumblr UPDATE 3-Bank of America's lagging loan growth overshadows profit gains Lisa Frazier, Wells Fargo’s head of innovation, will deliver a presentation at Bank Innovation Ignite in Seattle in March 2019. Frazier joined the bank in May, but though she is new to Wells Fargo, she is not new to banking. She was Chief Digital Officer at the Commonwealth Bank of Australia, a Partner at McKinsey & […] via Tumblr Lisa Frazier, Wells Fargo’s Head of Innovation, to Speak at Bank Innovation Ignite What is a SOC report and why do service providers pay to have one completed? Financial institutions (FIs) are regulated by the Federal Financial Institutions Examination Council (FFIEC). The FFIEC is composed of five banking regulators responsible for establishing consistent guidelines and uniform practices and principals for FIs. Simply stated, the FFIEC wants to ensure… The post Trust, But Verify: System and Organization Controls (SOC) Reports appeared first on Deluxe FS. Trust, But Verify: System and Organization Controls (SOC) Reports published first on https://yuanex.tumblr.com via Tumblr Trust, But Verify: System and Organization Controls (SOC) Reports Critics demand tougher action as Bank of England stops short of call for mandatory reports The Bank of England has stopped short of forcing financial companies to disclose the potential risks they face from climate change, despite growing calls from campaigners for such action. In a warning to finance firms to vastly improve their planning to safeguard against the financial risks posed by global warming, Threadneedle Street asked companies to “consider the relevance” of disclosing their climate-related risks. Continue reading…Banks will not be forced to reveal climate change risks they face published first on https://yuanex.tumblr.com via Tumblr Banks will not be forced to reveal climate change risks they face In his near-decade long tenure as chief executive officer, Brian Moynihan has tried to streamline the lender’s sprawling operations by cutting jobs, digitizing retail operations and getting rid of crisis-era mortgages, which he inherited as part of its acquisition of Countrywide Financial. Net income applicable to common shareholders rose 35 percent to… via Tumblr UPDATE 2-Bank of America profit beats on lower costs, loan growth The agreement signed by UniCredit Bank Hungary and Alipay Europe makes the start of a partnership that will allow the increasing number of Chinese visitors abroad to purchase goods and services in Hungary simply using the app they are accustomed to in their homeland. Thanks to this agreement, UniCredit’s merchant clients will have the possibility to provide Alipay payment service to their Chinese customers. The introduction of Alipay services in Hungary represents an opportunity to capitalise on the rapidly growing number of Chinese tourists in the country. According to the Hungarian Tourism Agency, Budapest had 178,000 Chinese visitors in 2017, with China being among the top 10 countries from where tourists are arriving to the capital. Based on governmental statements, the number of Chinese tourists visiting Hungary grew by over 34 per cent last year to 227,000 in 2017, while 140,000 Chinese tourists came here in the first 6 months of 2018, corresponding to a further 11 per cent increase. Chinese tourists visiting Hungary spend on average 1,400 dollars (390,000 forints), which is 50 per cent higher than the average foreign spending by Chinese tourists elsewhere – as confirmed by Ctrip, China’s biggest online travel agency. Hungary has another unique feature and connection to the Chinese population: it hosts the largest Chinese population in the Central-European region with approximately 20.000 Chinese citizens living in the country. UniCredit Bank Hungary deputy CEO Marco Iannaccone said: “We are pleased that Alipay decided to launch its payment and lifestyle services in Hungary in partnership with UniCredit Bank. “We are delighted to provide the financial infrastructure for Alipay services to offer cashless, future-proof payment solutions and special offers services for the Alipay customers and UniCredit merchants using the service. As Hungary is attracting so many Chinese tourists in the CEE, we are convinced that this partnership will benefit both Chinese visitors and Hungarian merchants equally” Alipay EMEA countries general manager Roland Palmer said: “Our successful partnership with Unicredit started two years ago and the opening of the Hungarian market is a key milestone for Alipay in Europe. Europe is the second preferred destination after Asia and Hungary is among the fastest growing countries in terms of arrivals, thanks to the history and beauty of the country. “Our aim is to enhance the outbound travel experience of Chinese travellers, providing competitive currency exchange rates, innovative services as well as many customer engagement tools for merchants.” UniCredit CEE Division head Carlo Vivaldi said: “This is the first step as we plan to extend this service to other UniCredit countries in CEE. “It enables merchants to accept payments from Chinese visitors via the Alipay app, enlarging their business potential. Our strategy is to integrate main technological innovations and digital payment systems into services and solutions we offer customers, in order to maximize commercial performances and create value for UniCredit customers.” With more than 700 million active users, Alipay is one of the most widespread and used mobile payment method in China. Alipay also enables in-store payments in many markets popular with Chinese tourists around the world. It is accepted in more than 40 countries and regions. Source: Company Press Release The post UniCredit Bank Hungary signs agreement with Alipay appeared first on Compelo Banking. UniCredit Bank Hungary signs agreement with Alipay published first on https://yuanex.tumblr.com via Tumblr UniCredit Bank Hungary signs agreement with Alipay Total interest income- the difference between what a lender earns on loans and pays on deposits- rose 6.4 percent to $11.87 billion. “Responsible growth, backed by a solid U.S. economy and a healthy U.S. consumer, combined to deliver the highest quarterly pre-tax earnings in our company’s history,” Chief Executive Officer Brian Moynihan said in a statement. via Tumblr UPDATE 1-Bank of America profit beats estimates on cost cuts, loan growth LONDON, Oct 15- Britain’s banks and insurers must come up with credible plans for protecting themselves against risks from climate change and may need to hold more capital, the Bank of England said on Monday. Governor Mark Carney, who has put climate change issues on the BoEs regulatory radar, said last month that lenders had failed to grasp the scale of the… via Tumblr UPDATE 2-Banks, insurers must have credible plans for climate change -BoE Wells Fargo net income applicable to common stock was $5.45bn, compared to $4.13bn reported in Q3 2017. Revenue increased slightly to $21.9bn in the quarter, compared to $21.8bn in the year-ago period. Net interest income in Q3 was $12.6bn, up $31m from the second quarter of 2018. Mortgage banking income was $846m, up from $770m in Q2. Net income from the community banking segment increased 13% to $2.8bn in the third quarter, while wholesale banking’s net income registered an 8% growth to $2.9bn. Net income from wealth and investment management increased 64% to $732m. Total average loans were $939.5bn in Q3. Wells Fargo said total average deposits for Q3 were $1.3 trillion, down $5bn from the prior quarter, as consumers continued to move excess liquidity to higher-rate alternatives. The company noted that it experienced positive business trends in Q3, including growth in primary consumer checking customers, increased debit and credit card usage, and higher year-over-year loan originations in auto, small business, home equity and personal loans and lines. Wells Fargo CEO Tim Sloan said: “In the third quarter, we continued to make progress in our efforts to build a better Wells Fargo with a specific focus on our six goals: risk management, customer service, team member engagement, innovation, corporate citizenship and shareholder value. “We are strengthening how we manage risk and have made enhancements to our risk management framework. We also continued to make progress on customer remediation, which is an important step in our efforts to rebuild trust.” To better serve its customers and help them succeed financially, the company launched Control Tower, a digital experience that simplifies its customers’ online financial lives, and new Propel Card. Wells Fargo provides banking, investments, mortgage, and consumer and commercial finance through 7,950 locations, 13,000 ATMs, the internet and mobile banking. The post Wells Fargo’s Q3 net income increases 32% to $6bn appeared first on Compelo Banking. Wells Fargo’s Q3 net income increases 32% to $6bn published first on https://yuanex.tumblr.com via Tumblr Wells Fargo’s Q3 net income increases 32% to $6bn |
About UsI work as a business success consultant for Business Consulting and has over twenty years experience helping companies start, grow, turn around and succeed. I'm good in developing business plans, marketing plans, strategic plans, funding plans, finance packages and turn around plans. I offer small business owners, entrepreneurs, and executives business success consulting, coaching and seminars. I have also written over thirty articles, two books and has a business success blog.
|