In 2002, HSBC purchased Grupo Financiero Bital—a Mexican lender lacking a compliance department at the time. Five years later, the head of the British giant’s Latin America compliance department, voiced his frustration and concerns about the Mexico unit overseeing the acquired company’s activities, reports Financial Times. Read: HSBC in talks to sell Latin American units, […]
The Canadian Federation of Independent Business (CFIB) is asking Finance Minister Flaherty to strengthen the government’s Code of Conduct for the Credit and Debit Card Industry in Canada. The group’s request follows recent news that mobile payment options are rapidly expanding and growing in popularity. It also comes on the heels of a $7.25 billion […]
Goldman Sachs’ net income fell 11% in the April-to-June period; the investment bank says its clients traded less and made fewer deals as global financial markets turned volatile. The bank has also faced a slew of problems in recent months, causing investor confidence to erode. Not only was it fined $22 million in April and […]
Is mobile banking the way of the future? While only a small minority have turned to it so far, the trend is growing, says the most recent issue of the Ipsos Canadian Inter@ctive Reid Report. More than one-in-10 online Canadians (12%) have completed transactions using their mobile device in the past three months, shooting up […]
Financial magazine Euromoney has a very different view of how global banking should be measured. During its recent 2012 Awards for Excellence dinner, the European publication awarded Barclays—which continues to be mired in scandal—best global debt house, best investment bank, and global flow house of the year.
We’re committed to making your practice better, so all this month, we’re delivering you a daily takeaway.
CIBC is the strongest bank in Canada and North America. It’s also the third strongest bank in the world, says Bloomberg Markets. Bloomberg's global study is based on banks with more than $100-billion (U.S.) worth of assets.
Institutions can never be too-big-to-fail; one of the dangers of adopting this mentality is the loss of consumer confidence in the resiliency of their banks during times of crisis.
B2B Trust, a subsidiary of Laurentian Bank, will acquire AGF Trust Company in a cash transaction of approximately $242 million. The deal will close August 2012.
Doomsday market headlines don’t scare RBC, one of the top banks in Canada and North America; while other firms shrink their capital markets units, the bank has taken strides to grow its wholesale sector and beef up its risk management division.