Commercial banking
The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.
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The new law relies partly on U.S. companies paying higher taxes to raise money for climate change and health care initiatives. Here's how banks will be affected.
August 24 -
The Canadian banking giant reported a 22% increase in loan balances, with the largest contribution coming from the United States. The surge in lending helped to compensate for weakness in debt and equity issuances.
August 23
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A recent mini-tender offer to shareholders in Truist Financial serves as a cautionary tale. "They're trolling around for investors that aren't paying attention," one lawyer said.
August 22 -
Advances by Federal Home Loan banks hit a 15-year low last year, but commercial banks and other financial institutions are clamoring for more as loan demand has increased and deposits have ebbed. How long will the trend continue?
August 19 -
BOK Financial, based in Oklahoma, has tapped Mark Wade to become CEO of the Bank of Texas next year. The current chief, Norm Bagwell, will take a part-time role.
August 17 -
As summer nears its end, finance-industry rookies are relishing their freedom while some fret over what it means for their future careers. Anxiety is simmering in Wall Street's kinder era for incomers, according to interviews with 10 young bankers.
August 17 -
Corporations are navigating shifting geopolitics, and M&A bankers are advising them as they consider selling off faraway units and focusing more on assets closer to home or in friendlier countries.
August 17 -
The COVID-19 pandemic revealed the fragility of complex global supply chains. Bankers say they are hearing from more U.S. clients who want to change that by moving manufacturing and supplier operations closer to home.
August 17 -
There are numerous groups that would love for financial institutions to embrace their causes. But executives need to think through the potential consequences of becoming politically active.
August 16
