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The Latest Breaking News on Financial Services

Industry Trends Every NeoBank Owner Should Know

Banks and credit unions face the same challenges every year. Some trends affect almost all financial institutions, including brick-and-mortar banks, unions, and even neobanks. Bancography provided its annual 52 pages banking industry analysis for 2022. Let’s summarize and analyze the trends that apply to neobank owners.

Benzinga

Lloyds Banking Harbourside offices evacuated after fire breaks out

A fire service spokesperson said the blaze began in a basement

Bristol Post

Assault after kiss, fraud case jury told

The ex-husband of an alleged bank fraudster has told a jury he signed over companies to her after assaulting her and his best friend after seeing them kiss.

AAP

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The government taking full ownership of Kiwibank is a bailout in all but name – what are the risks now?

With the transfer this week of Kiwibank’s assets to a state-owned company, the New Zealand crown has now taken full control of the bank. At an estimated cost of NZ$2.1 billion, the change of ownership has all the hallmarks of a government bailout.

The Conversation

Gardaí nail 'sim swap' scammer targeting Irish bank customers in €200k swoop

Gardaí from GNECB conducted a search at a residence in the Tallaght area of Dublin 24 where they arrested a man as part of this investigation.

Irish Mirror

Bank of Scotland, Halifax and Lloyds apps down as customers unable to access money

The banks has said that they are working on resolving the issue.

Daily Record

Halifax and Lloyds Banks customers unable to use online banking and app

Some customers exclaimed their outrage due to not being able to access their funds

Manchester Evening News

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Lloyds Bank issue statement as online and app service goes down

Problems with Lloyds online and mobile banking began at 10am

Liverpool Echo

Alleged fraudster was a success, jury told

The ex-husband of a woman accused of defrauding NAB of millions of dollars has told a jury she was a success story managing projects around the world.

AAP

Philip Hammond’s consultancy firm made almost £1m in profit

Filings cover period ex-chancellor worked for controversial clients including Saudi government

The Guardian - UK

Atom bank hails benefits of four day week six months after introduction

Atom employees said they’d used the day off to spend time with children, go on long walks with dogs or volunteer for a charity

Evening Standard

Man ‘slashed in head’ and has cash stolen inside Barclays bank in Stamford Hill

A man withdrawing cash from a high street bank was slashed in the back of the head by a mask-wearing robber.

Evening Standard

Glasgow area's last bank closed despite concerns over cash access

A survey of residents carried out my an MP showed a clear majority wanted it to remain open

Glasgow Live

Avon and Somerset police issue courier fraud warning

Police are urging people to remain vigilant

Bristol Post

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The Times of India

Govt mulls selling at least 51% stake in IDBI Bank

NEW DELHI: The government is considering selling at least 51% of state-backed IDBI Bank Ltd, according to people with knowledge of the matter.

Asharq Al-Awsat

Egyptian Remittances Increase 1.6%

The Central Bank of Egypt (CBE) said that the Egyptian remittances increased 1.6% to about $31.9 billion during fiscal year (FY) 2021/22, compared to about $31.4bn last year. The CBE said on Tuesday that the period from April to June 2022 witnessed an increase in those transfers by 3%, to…

The Guardian - AU

RBA urges business to act now on climate threats or face potential legal action

Reserve Bank Australia says households may struggle to repay debts as asset prices will probably become more volatile

Daily Record

Elderly and vulnerable targeted as £1 million scammed from Scots in just six months

More than a third of those were from Forth Valley areas.

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Bangkok Post

Green lending under BoT scrutiny

Financial institutions are expected to report their environmental loan strategies and related targets to the Bank of Thailand from next year as the country attempts to transition to a green economy.

The Guardian - UK

Rishi Sunak attacks Liz Truss’s plans to curb Bank of England’s independence

Former chancellor says rival’s economic proposals could ‘spook international investors’

Reuters

Pope further tightens controls, centralisation of Vatican finances

Pope Francis on Tuesday acted to eliminate wiggle room or foot- dragging by Vatican departments in imposing tighter financial controls, setting a deadline for the closing of investment portfolios in foreign banks, including in Italy.

Chronicle Live

Barclays' Wallsend branch is to close after more than 50 years at The Forum

Barclays at The Forum shopping centre, Wallsend, has traded since 1969, but its imminent closure comes at a time when most customers are banking online and branches are closing around the UK

Asharq Al-Awsat

Saudi Prosecution: 11 Suspects Arrested for Stealing Money from Bank Accounts

Saudi Arabia's Public Prosecution has arrested 11 people for forming a criminal organization and impersonating bank employees with the purpose of stealing money from the bank accounts of Saudi citizens and residents. The Public Prosecution said its Financial Fraud Unit investigated the case and found the 11 suspects used a…

Bangkok Post

Bank Indonesia hikes benchmark rates for first time since 2018

JAKARTA: Indonesia's central bank raised its benchmark interest rate for the first time since 2018 on Tuesday, stepping up monetary tightening to fight rising inflation.

The Times of India

Smaller banks follow big peers, hike FD rates

MUMBAI: IDBI Bank has said it will offer a new 500-day deposit that offers 6.7% interest as part of the Amrit Mahotsav (75 years of independence) scheme. The bank has also hiked interest rates on term deposits across various tenors from August 22. The highest rate offered under its regular…

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