Latest news with #lender
Bloomberg
13 hours ago
- Business
- Bloomberg
Top Philippine Bank Issues Nation's Largest Private Bond
BDO Unibank Inc. raised 115 billion pesos ($2 billion) from the Philippines' largest corporate bond sale, highlighting strong demand from investors seeking attractive return. The bank's fourth-peso denominated ASEAN sustainability bond will mature in one-and-a-half year and fetched a coupon of 5.875% annually. BDO, the nation's largest lender, will use the proceeds to finance green projects, support lending and diversify its funding sources.
Reuters
16 hours ago
- Business
- Reuters
Russia's Sberbank reports marginal Q2 profit rise to $5.19 billion
MOSCOW, July 29 (Reuters) - Russia's dominant lender Sberbank ( opens new tab on Tuesday reported a slight increase in second-quarter net profit to 422.9 billion roubles ($5.19 billion), from 418.7 billion roubles a year earlier. Sberbank has coped relatively well with high interest rates squeezing lending portfolios. Banks are set to benefit with interest rates now coming down, nipping concerns about rising overdue consumer debt in the bud. ($1 = 81.5500 roubles)
Reuters
16 hours ago
- Business
- Reuters
Bank Millennium beats Q2 forecasts as Swiss mortgage impact wanes
GDANSK, July 29 (Reuters) - Bank Millennium ( opens new tab on Tuesday reported second-quarter net profit of 331.5 million zlotys ($90.1 million), surpassing the 270 million zlotys forecast in a Reuters poll, boosted by a strong performance at its core business. That helped the bank offset higher FX-mortgage costs. Bank Millennium is Poland's seventh-largest lender by total assets and the Polish arm of Portugal's Millennium bcp ( opens new tab. The lender's second-quarter net interest income reached 1.45 billion zlotys, against the average forecast 1.44 billion zlotys from analysts polled by Reuters. Net fee and commission income came in at 188 million zlotys, compared with expectations of 187 million zlotys. The group booked 573 million zlotys in provisions for legal risks related to Swiss franc mortgages. Initially appealing to borrowers in the 2000s due to low interest rates, Swiss franc loans have become a significant burden for the sector as repayment costs surged following the zloty's depreciation and Swiss interest rate hikes. This has led to widespread legal disputes, pressuring Polish banks to offer settlements and book substantial provisions, weighing on their results for years. ($1 = 3.6776 zlotys)
Reuters
17 hours ago
- Business
- Reuters
Unicaja's Q2 net profit falls 2.4% on banking tax, lower lending income
MADRID, July 29 (Reuters) - Spain's Unicaja ( opens new tab on Tuesday said its net profit fell 2.4% in the second quarter compared to the same period in 2024 due to the impact from the renewed banking tax and lower lending income. The country's sixth-biggest lender by market value reported a net profit of 179 million euros ($207.37 million) in the April to June period. Analysts polled by Reuters expected a net profit of 169 million euros. In this quarter, Unicaja booked a charge of around 5 million euros against the banking levy, according to a spokesperson, as it adjusted the impact on a linear quarterly basis based on the tax legislation currently in place. In the previous years, the bank booked the amount for the full year in the first quarter. In 2024 it took a hit of 79 million euros. In an environment marked by lower borrowing costs, Unicaja's net interest income (NII), a measure of earnings on loans minus deposit costs, in the quarter fell 2.5% from the same period a year ago, compared to forecasts of 363 million euros. Compared to the previous quarter, however, NII was up 1.5%. ($1 = 0.8632 euros)
Yahoo
a day ago
- Automotive
- Yahoo
I bought a used car with 6% interest but the dealership claims the bank pushed back and bumped it to 8%. What can I do?
I imagine you drove off the lot in your newly financed used car, stoked about your new ride and relieved you scored a decent rate — 6% interest, manageable monthly payments, and the peace of mind you didn't get fleeced. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how Your dealer's sour update probably feels like a punch in the gut. And it should. This kind of last-minute rate increase is a big red flag, but it's not always an outright scam. Sometimes lenders genuinely change the terms after taking a closer look at your credit or your co-signer's history. But shady dealers know that, too, and they'll use it as cover to pad their profit. When a rate bump is legit, and when it's not Fighting for every penny in a car purchase has rarely been so important. Tariffs on new imported cars and parts are increasing the cost of new vehicles. As new cars become less affordable, more buyers shift to the used market, driving up demand and prices for used vehicles — nevermind the impacts of tariffs on the parts used to repair used cars. You may be considered fortunate to get an 8% rate, even if it's higher than what you were initially offered. Credit agency Experian says the average rate in the U.S. is nearing 12% — and that jumps wildly for someone with mediocre credit. Banks really do sometimes decline a deal or increase the rate after initial approval. Especially in used car sales, dealers often let buyers take the car before final financing is fully locked down. That's called spot delivery or conditional delivery. If your co-signer's credit is worse than they thought, or if your own credit report has issues that didn't show up immediately, the bank might truly reject the original rate. But it's also true that this is a well-known dealer tactic, sometimes called 'yo-yo' financing, a problem so bad the FTC has a video on it to warn buyers. The dealer lets you take the car home at a 'too good to be true' rate knowing they'll call you back later with the bad news. By then, they're betting you'll agree to almost anything to keep it. Dealers might also claim the bank rejected the deal when in reality they're just steering you into a loan with a higher interest rate that pays them more in commissions or markup. The bottom line? A rate bump might be legitimate. But it might also be a sign you're being played. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Pushing back against a rate change You got that dreaded call saying your 6% deal is now nearly 8%. Don't panic — but don't impulsively say yes, either. Start by asking for proof. A real lender decision to raise your rate will typically be documented. Ask to see the bank's rejection or counter-offer. A reputable dealer should be willing to show you. If they dodge or stall, it's a bad sign. You can also simply refuse. If financing falls through and can't be secured on the agreed terms, you usually have the right to unwind the deal. You can return the car and walk away. Yes, it's inconvenient and awkward, but it's better than getting stuck with an overpriced loan you can't afford. If the dealer won't return your down payment and trade-in, you may have to seek legal counsel. If you're willing to renegotiate, try to hold them to the original terms or at least minimize the increase. Sometimes just threatening to walk is enough to get them to 'find' a better rate. You can also ask them for the out-the-door price and try to find your own financing from a bank or credit union. And if you do sign at the higher rate, remember you're not stuck forever. Refinancing is always an option. Your own bank or credit union may offer a much better deal once you own the car and have some payment history. If you truly feel misled or scammed, escalate. Talk to the dealership's management. File complaints with your state attorney general, consumer protection office, the Better Business Bureau, or the Federal Trade Commission. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
