Latest news with #bankers
Bloomberg
3 days ago
- Business
- Bloomberg
Hong Kong Bankers on Edge Over $11 Billion New World Refinancing
Hong Kong bankers have become fixated on an $11 billion loan deal with unusually high stakes for the financial hub. New World Development Co., an embattled property developer controlled by one of Hong Kong's richest families, is aiming to complete one of city's largest-ever corporate refinancing deals with more than 50 banks by the end of June after pushing back an initial deadline for this month. As of last week, about 10 banks have agreed to terms while the rest are still talking.
Associated Press
4 days ago
- Business
- Associated Press
Deeper Bank Relationships Can Elevate Small Businesses
Most small business owners are chief everything officers. Even when outsourcing or hiring to fill needs, their hands run deep in operations, finance, marketing, technology, and sales. Consequently, some meaningful relationships go underdeveloped—including the important relationship between small business owner and bank. It's not that small business owners don't value their bank. Most do. Rather, for time-crunched owner-operators, the relationship is transactional. The bank is home to their accounts and the place to deposit and withdraw money. It's where they turn to access capital and loans. For some, the bank is even a resource for managing cash flow. Yet for many, the bank—and by extension their banker—is not a trusted business advisor. It should be. Conversations lead to more targeted solutions At the close of 2024, there were nearly 4,000 FDIC-insured banks in the U.S. Most offer a range of similar solutions. Even rates and terms tend not to vary dramatically. So, what differentiates one bank from another? What makes a bank feel more than simply a checking or savings account? The answer is simple. It is the relationship. It is a banker understanding the specific demands of a business and being able to provide much-needed advice and a tailored solution to a unique problem to achieve a specific outcome to help the business run better. In addition to being the wearer of many hats, business owners are experts in their trade. Often times, that expertise is not financial. But that's where business bankers come in. Their knowledge equips them to address a range of complex scenarios. From a knowledge of products that may improve efficiency and profitability to experience helping address a host of financial challenges, business bankers can offer advice and expertise that small business owners neither have themselves nor can easily access. Examples include payments and receivables, invoicing, liquidity management, process automation, and fraud protection. Business bankers are also well versed in cash flow management—the lifeline of every successful enterprise. The challenge is that financial operations is a bridge typically not crossed together. And this is a mistake, for the business…and the bank. In fact, the shift to a more consultative approach to business banking falls more on the bank than the business. Banks thrive when their clients thrive. Helping business owners understand how the money flows through their operation and where there may be opportunities to benefit from managing their collection and payable processes differently creates opportunities for all. Of course, this starts with conversations and building a relationship. Transforming the relationship between business and bank Banks realize differentiation is about more than the products and solutions they offer. Differentiation is about changing the relationship from transactional to consultative. KeyBank, for example, has launched a Certified Cash Flow Advisor Program. The program empowers business owners to navigate their financial operations by providing them with a highly trained advisor who can work with them holistically across the business to reduce friction, improve efficiency, and identify and act on opportunities for growth. This advice-driven approach goes beyond traditional banking and offers strategic insights that help owner-operators make informed decisions to reach their financial goals. It puts small business owners first and product-driven solutions second. This is as it should be. If business owners view their banks only through the lens of product catalogs to navigate and choose from, banking is just another ball to juggle and hat to wear. Conversations that matter Small business owners are accustomed to facing more challenges than their larger counterparts—the impact of COVID-19, high-interest rates, and tariffs are recent examples. Yet what makes small businesses vulnerable—size and scope—is also their strength. Typically free from the red tape and stakeholder interests, they can be nimbler and more quickly embrace innovative practices. Here are some conversations small businesses should be having with their banks. Small businesses are the backbone of our economy. As the challenges continue to grow, there is no doubt they are up to the challenge. And with greater commitment from banks to collaborate more than sell, small businesses are equipped for greater resiliency and success. About the author: Mike Walters is an Executive Vice President and President of Business Banking at KeyBank. He can be reached at [email protected] This is designed to provide general information only. All credit products are subject to collateral and/or credit approval, terms, conditions, availability and subject to change. ©2025 KeyCorp. All rights reserved. CFMA #250521-3232428 Visit 3BL Media to see more multimedia and stories from KeyBank
Zawya
4 days ago
- Business
- Zawya
Turkish central bank gross reserves rose $7.5bln last week, traders and data say
ANKARA - Turkey's central bank bought more foreign currency last week, lifting its total reserves by a further $7.5 billion after sharp declines in March and April, bankers' calculations from data showed on Tuesday. Market turmoil in March over the detention and jailing of Istanbul Mayor Ekrem Imamoglu, who is President Tayyip Erdogan's main political rival, triggered a policy pivot, including a hike in the bank's key interest rate last month. Bankers' calculations, based on preliminary data, also showed that the central bank's net reserves rose by $8 billion last week to $48 billion. The central bank bought some $13 billion in the last three weeks, data showed, marking a reversal after it had sold some $57 billion to help stabilize the lira and other financial markets in the face of the turmoil. Separately, overnight interest rates, which had dropped briefly to the main policy rate level of 46% on Friday, returned this week to 49%, at the upper band of the rate corridor that was also earlier raised to head off market turmoil. Traders are closely monitoring whether overnight rates will hover close to the upper band of the rate corridor - 49% - in the coming days, for further signals on the policy path ahead. Bankers have said that lowering overnight market rates would be a necessary step before the central bank resumes its easing cycle, which began in December but was reversed in April in the wake of the mayor's arrest and jailing. The bank's next two scheduled policy meetings will be on June 19 and July 24.
Wall Street Journal
24-05-2025
- Business
- Wall Street Journal
StubHub's CEO Isn't Delusional. That's Why He Hasn't IPO'd Yet.
On April 3, StubHub Chief Executive Eric Baker met with his bankers to discuss the precarious state of the company's planned initial public offering. Stocks had just shed more than $3 trillion in value, jolted by President Trump's 'Liberation Day' tariff announcement, and StubHub's market debut was in jeopardy.
Bloomberg
23-05-2025
- Business
- Bloomberg
Credit Suisse Bonuses Ruling Challenged by Swiss Government to Top Court
The Swiss finance ministry appealed a ruling that a dozen ex- Credit Suisse bankers were unlawfully stripped of their bonuses when UBS Group AG bought its collapsing rival, setting up a potential showdown in the country's highest tribunal between the government and a cadre of top bankers. The Swiss court 'failed to take key aspects into account, in particular by not considering the exceptional circumstances leading up to the takeover of Credit Suisse, which the legislator would not have been able to foresee,' the finance ministry said in a statement on Friday. It has lodged an appeal at the Swiss supreme court, it said.
