Latest news with #RetailBanking
Zawya
6 days ago
- Automotive
- Zawya
Bank Nizwa introduces competitive Sharia-compliant financing solutions for Q3
Muscat: Reaffirming its commitment to delivering banking services that fulfill customer aspirations, Bank Nizwa – the leading and most-trusted Islamic bank in the Sultanate of Oman – has announced the launch of competitive, Sharia-compliant financing solutions for the third quarter of the year. The offering includes a diverse range of financing products, including auto finance, personal finance, and home finance, reflecting the bank's steadfast approach to providing financial solutions that empower customers to achieve their financial goals. Commenting on the launch, Mr. Mohamed Al Ghassani, Chief Retail Banking Officer at Bank Nizwa, said: 'At Bank Nizwa, we are dedicated to providing Sharia-compliant financing solutions at competitive profit rates that cater to the diverse financial needs of our customers. Through regular reviews of our profit rates, the bank not only stays aligned with evolving market dynamics but also strengthens its steadfast commitment to delivering purposeful, value-driven financial solutions that enable customers to realize their financial aspirations.' He added: 'At the same time, we continue to enhance the value of our offerings for entrepreneurs through Sharia-compliant commercial financing solutions. We provide competitive profit rates for trade finance, auto finance, and real estate financing, supporting businesses and their growth ambitions.' As part of its commitment to providing financing solutions tailored to diverse needs, Bank Nizwa offers competitive profit rates starting from 3.49% across its retail financing portfolio, which includes auto finance, home finance, and personal finance. For auto finance, customers can benefit from a preferential rate to finance both new and used cars meanwhile it provides greater flexibility in their financial planning. For home finance, the bank provides comprehensive solutions covering ready property purchases, land acquisition, construction, and buyouts – delivered through a progressive financing structure with adaptable repayment terms. Meanwhile, the bank's personal finance solutions are designed to address everyday financial needs and provide essential liquidity through flexible repayment options and features aligned with customers' financial aspirations. On the commercial front, Bank Nizwa continues to reinforce its support for the business sector by providing Sharia-compliant financing solutions at competitive rates through Commercial Finance for individuals which include commercial autos and real estate. This underscores the bank's ongoing commitment to empowering entrepreneurs and fostering sustainable economic growth throughout the nation. As the most trusted Islamic financial institution in the Sultanate, Bank Nizwa continues to provide transparent and fully Sharia-compliant financial solutions. This unwavering commitment strengthens the trust customers place in the bank, offering financial options that not only address their economic needs but also align with their values and beliefs. This approach enables customers to make informed and secure financial decisions within a trusted Sharia-compliant framework.
The Star
03-08-2025
- Business
- The Star
AFFLUENT SEGMENT FUELS STANDARD CHARTERED'S GROWTH
KUALA LUMPUR: In an era of shifting markets and rising complexity in wealth planning, Malaysia's affluent and emerging affluent are turning to partners with global insights and wealth expertise to future-proof their financial ambitions. Standard Chartered is doubling down on its affluent business and is strengthening its wealth proposition to help clients grow and protect their wealth. For the bank's Wealth and Retail Banking (WRB) business, the focus is on growing its three main segments – affluent, emerging affluent and small and medium enterprises (SME). Doubling down on affluent According to Harmander Mahal, Standard Chartered's head of WRB for Malaysia, the bank's business is fairly robust in all three segments. 'Within WRB Malaysia, our affluent business contributes the most, making up almost 45% of our total income. This is followed by the SME and emerging affluent segments. 'We aim to continue building on our strengths in affluent as we expect our overall WRB top line to nearly double in the next five to six years. We target to have almost 60% of that income come from affluent,' he told StarBiz recently. In Malaysia, Standard Chartered categorises its affluent clients under Priority Banking. These are clients who have an Asset Under Management (AUM) of above RM350,000. 'For us, SMEs range from businesses with a turnover of a couple of million ringgit up to RM400 million, maybe even more, depending on their profile. Within this segment, we provide support with their potential growth overseas, working capital and other banking needs.' Harmander: Malaysia continues to distinguish itself as a compelling destination for business and investment, underpinned by its stable fundamentals and conducive business environment.—GLENN GUAN/The Star Within the mass retail space, the bank is focused on supporting its emerging affluent clients progress in their wealth journey, essentially forming a pipeline of future affluent clients. This client segment typically consist of young professionals. 'We offer products and solutions designed to cater to clients across segments along our client continuum, growing with clients as they grow their wealth through different life stages. 'How this could look like, is that the client could start banking with us as a young professional with a very modest income, but through our support, they are able to progress through each of their life stage, as they get married, buy a house and more,' he explained. Positioned for greater growth Having worked extensively in the bank's WRB business in all 11 Asean and South Asia (ASA) markets, Harmander believes Malaysia is well-positioned to capitalise on shifting global investment flows, supported by its robust infrastructure, strategic location, and pro-business policies that continue to attract sustained foreign direct investments. 'I think Malaysia is at a crucial point and it's going to do really well as it progresses. While short-term fluctuations are inevitable, the broader trajectory remains highly encouraging. Malaysia continues to distinguish itself as a compelling destination for business and investment, underpinned by its stable fundamentals and conducive business environment,' Harmander said. He added the government has been very agile to capitalise on the opportunities arising from the global trade tensions and measures, such as the Johor Special Economic Zone, which is making good progress. 'All the policies and measures taken are going to present a plethora of opportunities for Malaysians and investors.' According to a Knight Frank report in 2024, the population of ultra-high net worth clients in Malaysia is expected to grow by 30-35% in the next five to six years. 'As wealth creation accelerates, we believe that it needs to be well managed, and we are in a strong position to help with that. 'Our long-standing presence in Malaysia for 150 years is a testament to our enduring commitment, trusted relationships, and deep understanding of the local market,' said Harmander. He said Malaysia is a key market for the bank, therefore the investment, in terms of products and platforms, has been quite significant. 'We run some of our best platforms in Malaysia,' Harmander told StarBiz. A leading international wealth manager Standard Chartered's advantage lies in both the trust that is built with clients across their wealth journey and its expertise in wealth solutions. This combination enables the bank to curate and offer innovative product propositions tailored to clients' unique needs. 'The advice provided by our advisory team has a high degree of governance and an international flavour to it. 'We don't take those things lightly. The other advantage we have, which is quite significant and unique vis-a-vis other banks, is that we have a distinctive international network. Our wealth operations and expertise extend across 25 markets with four wealth hubs in Singapore, Hong Kong, Dubai and Jersey.' The four key wealth hubs are strategically located to capitalise on cross-border wealth flows and offer international wealth management solutions for affluent clients. 'This presence in the multiple markets gives us a great advantage as we see Malaysia becoming an attractive business and investment destination for expats,' said Harmander. Against the backdrop of international diaspora, coupled with Malaysia's investment story and its Malaysia My Second Home programme, he noted that Standard Chartered remains attuned to the diverse needs of global entrepreneurs, professionals and their families as they expand into Malaysia. 'As these clients grow their wealth across borders, our affluent continuum and vast international network work in tandem to guide them in navigating the path forward in an ever-changing world,' he said.
FF News
31-07-2025
- Business
- FF News
72% of Young Adults Take Action to Improve their Financial Health, finds BofA Better Money Habits Study
Gen Z (ages 18-28) is finding adulthood more expensive than expected. Facing this, nearly three quarters of them are taking action to improve their financial health, according to Bank of America's 2025 Better Money Habits® financial education study (PDF), published today. Gen Z is challenging the stereotype when it comes to young people and their finances,' said Holly O'Neill, president of Consumer, Retail and Preferred Banking at Bank of America. 'Even though they're facing economic barriers and high everyday costs, they are working hard to become financially independent and take control of their money.' Key findings from the study include: Over the last 12 months, 72% took steps to improve their financial health, such as putting money toward savings (51%) or paying down debt (24%). Nearly two-thirds (64%) focused on reducing expenses – 41% cut back on dining out and 23% shopped at more affordable grocery stores. And more are going it alone. While 39% receive financial support from parents and other family members, this is down from 46% a year ago. And they are getting less money – 22% receive $1,000 or more per month compared to 32% a year ago, and 54% receive less than $500 per month compared to 44% a year ago. When it comes to their romantic lives, many Gen Z aren't spending money on dates – with roughly half of men (53%) and women (54%) spending $0 a month, and 25% of men and 30% of women spending less than $100 per month. According to the study, about half (51%) of Gen Z surveyed say the high cost of living is a barrier to financial success. Total monthly spending is higher than they thought it would be for 35%, especially for everyday expenses including groceries (63%), rent and utilities (47%) and dining out (42%). The study found that Gen Z feel a lack of income is a problem as well, with over half (53%) not feeling they make enough money to live the life they want, and many are struggling to save consistently. In fact, 55% don't have enough emergency savings to cover three months of expenses. While Gen Z knows that saving for the future is important, they struggle to do so, with close to half (43%) saying they are not on track to actively save for retirement in the next five years, though they'd like to be. Many see saving for retirement and investing as symbols of financial independence (42% and 35% respectively). However, only a quarter (25%) contributed to a retirement account in the last year and one-in-five (21%) invested in the stock market, up slightly from recent years. Despite a lack of income, Gen Z finds ways to enjoy the little things, whether celebrating a win or trying to help turn around a bad day: 57% buy themselves a small 'treat' at least once a week. Unfortunately for over half (59%), this leads to overspending, making little treats a slippery slope. And, according to data from Bank of America Institute (PDF), while there are signs of some pressures on younger generations, the median deposit level of Gen Z and Millennials remains elevated compared to 2019 levels – showing that these generations do not appear to be running down their savings in the face of higher costs. A third (33%) of Gen Z are stressed about their finances, and of those, 52% say economic instability is a root cause. When stressed about their finances, many (90%) are likely to take action, including checking their bank account balance (69%), making a budget (64%), getting ahead on paying bills (46%) or other smart money moves. But for some, stress leads to avoidance or splurges: 33% of Gen Z are likely to avoid thinking about or taking positive actions on their finances when they're feeling stressed financially; 30% are likely to treat themselves to a purchase when worried about money. Gen Z understands the importance of financial health, and they value being transparent with friends about money. Consistent with findings in prior years, two-thirds (66%) of Gen Z don't feel pressured by their friends to spend beyond their means, and 42% feel comfortable declining social activities and letting their friends know it's because they can't afford them. Financial health also matters in romantic relationships for Gen Z – with nearly four out of five (78%) saying that financial responsibility is an important attribute when choosing a significant other. This survey was conducted online from April 4 – 25, 2025, by Ipsos. This study is based on national samples of 1,069 general population adults (age 18 or older), 915 general population Gen Z adults (age 18-28). The survey was conducted both in English and Spanish and utilized samples from both opt-in sources and the Ipsos KnowledgePanel®, the largest and most well-established online probability-based panel that is representative of the adult US population. The margin of sampling error for the general population sample is +/- 3.1 percentage points and for the general population Gen Z sample is +/- 3.5 percentage points at the 95 percent confidence level.
Yahoo
31-07-2025
- Business
- Yahoo
ING posts 2Q2025 net result of €1,675 million, with strong growth in lending volumes and fee income
ING posts 2Q2025 net result of €1,675 million, with strong growth in lending volumes and fee income 2Q2025 profit before tax of €2,369 million with a CET1 ratio of 13.3% • Well on track to reach our targets, one year into our 'Growing the difference' strategy • Continued strong increase in mobile primary customers of over 300,000 to 14.9 million • Resilient total income, supported by higher customer balances, with particularly strong growth of our mortgage portfolio • Further growth in fee income in both Retail and Wholesale Banking, up 12% year-on-year • ING will pay an interim cash dividend of €0.35 per ordinary share CEO statement'During the second quarter of 2025, we have continued to successfully execute our strategy, which we set out one year ago, by accelerating growth, increasing impact and delivering value,' said Steven van Rijswijk, CEO of ING. 'The quarter started with heightened market volatility, as well as macroeconomic and geopolitical uncertainty, which still continue to this day. In that context, we are pleased that our customer base has shown significant growth and that our volumes have increased as we further diversified our income streams, with fees now making up almost 20% of our total income. We are well on track to reach our financial targets for 2027. 'We have seen continued commercial momentum, with significant core lending growth, continued strong deposit gathering and a double-digit increase in fee income. Commercial NII declined year-on-year due to margin pressure and currency fluctuations, leaving total income stable. 'In Retail Banking, we have gained over 300,000 mobile primary customers during the quarter, and 1.1 million, or 8% growth, year-on-year, with Germany, Spain, Italy, and Romania leading this growth. Net core lending growth has reached a quarterly record of €11.3 billion, including €7.2 billion in mortgages, mainly in the Netherlands, Australia and Germany, and €3.2 billion in Business Banking, driven by higher loan demand from our SME clients. We have attracted €8.9 billion in net customer deposits, partly from seasonal holiday allowances, and achieved a 12% increase year-on-year in retail fee income, primarily from higher investment activity. 'In Wholesale Banking, net core lending growth was €4.1 billion, driven by strong momentum in Working Capital Solutions and in short-term trade-related financing. Demand for long-term corporate loans has remained subdued due to economic uncertainty, which impacted total income. Fee income has risen 12% year-on-year, driven by Lending, Global Capital Markets and Payments & Cash Management. 'Costs have developed as expected, increasing moderately year-on-year. Prudent expense management remains a priority and the impact of inflation and investments was partly offset by efficiency measures. As part of this, we are making ongoing improvements to our KYC processes and we have announced the restructuring of our Wholesale Banking workforce, while continuing to invest in our commercial and product capabilities in both Retail and Wholesale Banking. 'Risk costs were below our through-the-cycle average, reflecting the quality of our loan portfolio. Our CET1 ratio was 13.3%, including the impact of the share buyback programme, which was announced in May 2025 and is well underway. Our 4-quarter rolling average return on equity came out at 12.7%. 'We continue to find ways to support our customers on their journeys to net zero. We have increased our sustainable volume mobilised to €67.8 billion for the first half of 2025, a 19% increase compared to the first half of 2024. In the Netherlands, we have introduced a new mortgage pricing model tied to energy labels that offers lower interest rates when eligible customers improve the energy label for their homes. 'We are pleased with our results during a volatile first half of 2025. Although macroeconomic conditions remain challenging we are confident that our strategy sets us on course to become the best European bank and deliver on our targets. I want to thank our customers and clients for their continued trust in us and our employees for their continued dedication.' Further informationAll publications related to ING's 2Q 2025 results can be found at the quarterly results page on more on investor information, go to A short ING ON AIR video with CEO Steven van Rijswijk discussing our 2Q 2025 results is available on Youtube. For further information on ING, please visit Frequent news updates can be found in the Newsroom or via the @ING_news feed on X. Photos of ING operations, buildings and our executives are available for download at Flickr. Investor conference call and webcastSteven van Rijswijk, Tanate Phutrakul and Ljiljana Čortan will discuss the results in an Investor conference call on 31 July 2025 at 9:00 a.m. CET. Members of the investment community can join the conference call at +31 20 708 5074 (NL), or +44 330 551 0202 (UK) (registration required via invitation) and via live audio webcast at Investor enquiriesE: Press enquiriesT: +31 20 576 5000E: ING PROFILE ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank's more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries. ING Group shares are listed on the exchanges of Amsterdam (INGA NA, Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N). ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING's ESG rating by MSCI was reconfirmed by MSCI as 'AA' in August 2024 for the fifth year. As of June 2025, in Sustainalytics' view, ING's management of ESG material risk is 'Strong' with an ESG risk rating of 18.0 (low risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that's not. Follow our progress on IMPORTANT LEGAL INFORMATIONElements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 ('Market Abuse Regulation'). ING Group's annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS- EU'). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2024 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING's core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in 'benchmark' indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non-compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING's ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING's more recent disclosures, including press releases, which are available on This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information. Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission ('SEC') reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are 'green' or 'sustainable.' Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security. This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING's control. Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction. Attachment Full ING 2Q2025 Results Press Release (PDF)Sign in to access your portfolio
Irish Times
17-07-2025
- Business
- Irish Times
AIB's slimmed-down UK unit to report to retail chief Geraldine Casey
AIB has decided that its UK unit will report in future to the group's retail banking managing director, Geraldine Casey, in Dublin, underscoring how the business has shrunk significantly in recent times. This will see move from four core operating divisions to three – retail banking, capital markets and climate capital. The development came as AIB also announced the promotion of its chief technology officer, Graham Fagan, to an expanded role of chief operating officer, as current COO Andrew McFarlane is leaving the group after three years. This will see the number of staff reporting to Mr Fagan effectively double to 2,300. AIB, which has more than 10,000 staff in total, also said that its general council Miriam Nagle, appointed in January, will join the group's executive team. READ MORE 'Today's updates to our management structure means AIB will focus on Retail Banking, Capital Markets and Climate Capital,' said chief executive Colin Hunt, adding that the simplification of management structure will help with operational efficiency and resilience. AIB UK, a stand-alone UK licensed bank led by managing director Hilary Gormley, has seen its gross loans shrink by almost 50 per cent to £5 billion (€5.78 billion) in the past decade, accelerated by review of its operations there in the wake of Brexit that saw it exit from the SME lending market in Britain and close a number of retail branches in Northern Ireland in 2021. [ Sharp increase in reports of phone call and text message fraud this year, AIB says Opens in new window ] While it continues to offer full retail banking services in the North, it has narrowed its lending focus in Britain to niche corporate areas such as renewable energy, manufacturing and warehousing. Some of the larger ticket UK lending deals are handled by AIB's capital markets and climate capital divisions. The shake-up increases the responsibilities of Ms Casey, who was already in charge of AIB largest division, by far. Rival Bank of Ireland's UK loan book has contract by 25 per cent over the past 10 years to £14.1 billion as it narrowed its focus amid heightened competition in that market. David McWilliams on how 'big incentives' to build could save Dublin city Listen | 36:51 This has been driven in recent years as the bank: reversed out of the mass mortgage market for higher-value bespoke home lending; stopped providing mortgages and personal loans through the UK post office; sold its British personal loans; and putting its corporate and commercial portfolio into winddown. Minister for Finance Paschal Donohoe sold the State's remaining 2 per cent stake in AIB for €305.3 million, bringing the total recovered to date from the bank to €19.8 billion. It means that AIB is set to fall about €700 million short of repaying its €20.8 billion taxpayer rescue bill, including the expected €300 million the Government is on track to receive from selling back stock warrants it continues to hold in the bank. The total AIB bailout recovery also includes proceeds other share sales, redemption of bailout bonds, interest, guarantee fees and dividends received from the bank over the years.
