Latest news with #retailbanking
Wall Street Journal
10 hours ago
- Business
- Wall Street Journal
BNP Paribas Guides for Faster Profit Growth in Second Half
France's BNP Paribas BNP 1.82%increase; green up pointing triangle expects revenue and profit growth to accelerate in the latter half of the year, following second-quarter results that topped market views. The lender forecasts net profit of more than 12.2 billion euros ($14.36 billion) for 2025 on faster revenue growth in the second half of the year. The main driver will be its retail banking operations, which are set to benefit from earlier higher interest rates due to the inherent lag in loan repricing typical of French banks, given their prevalence of fixed-term lending and regulated savings accounts.
Zawya
3 days ago
- Business
- Zawya
CBB approves transfer of HSBC Bahrain retail business to BBK
Bahrain - BBK, a leader in retail and corporate banking in Bahrain, has confirmed that the Central Bank of Bahrain (CBB) approved the transfer of HSBC Bank Middle East, Bahrain Branch's retail (consumer) banking operations to BBK and identified that completion of the transfer will take place by the fourth quarter of this year. The strategic transaction includes the transfer of all retail loans, deposits, credit cards and accounts of approximately 75,000 HSBC Bahrain retail customers, along with the HSBC employees who are supporting those customers. Commenting on the transaction, BBK Group chief executive Yaser Alsharifi emphasised the warm welcome HSBC customers and employees will receive as both banks continue to work together to ensure a smooth onboarding process for everyone concerned. 'We are actively engaged in the planning and integration work that will bring HSBC's customers and talented professionals into BBK's extensive product suite and dynamic working environment. Together, we will ensure best-in-class service and continued strong relationships for HSBC customers,' he said. Mr Alsharifi also highlighted BBK's comprehensive readiness to deliver on the transaction this year citing the bank's resilient operational framework, cutting-edge technological infrastructure and highly experienced workforce as the key elements to ensuring the smoothest possible transition. This robust foundation aims to ensure minimal service disruption while providing transferring clients with access to BBK's extensive suite of tailored banking products and solutions. For his part, Ahmed Taqi, general manager of retail banking at BBK, reaffirmed the bank's commitment to delivering innovative and high-quality financial solutions tailored to customer needs. 'Our vast network spans 17 retail branches, three BBK Lite branches, and 77 ATMs, including smart and interactive teller machines, alongside 24/7 call centre support and a growing digital offering through BBKPLUS branches and our mobile app. To enhance accessibility, we also provide 17 debit card issuance machines and 13 certificate issuance machines, ensuring customers can conveniently access essential banking services around the clock,' Mr Taqi said. Additionally, the bank uniquely offers secure safe deposit boxes, premium banking through 'Al Wajaha' and 'BBK Prive', and a range of deposit accounts – from Al Hayrat savings offering prize draws, to multi-currency and youth-targeted accounts. It also provides competitive lending solutions, including personal, auto, and housing loans with long-term repayment options. Instant insurance services 'Secura' is offered at all branches. Mr Taqi added: 'BBK remains fully committed to delivering outstanding financial solutions tailored to the unique needs of customers in Bahrain, including those who will transfer to us later this year. We are confident that our offerings will not only meet but exceed expectations, reflecting our unwavering pursuit of service excellence and innovation.' In a related context, Mr Alsharifi underscored BBK's pride in its wholly owned subsidiary, CrediMax, for pioneering credit card products that deliver advanced electronic services, secure payment solutions and a comprehensive suite of rewards programmes. He also reiterated BBK Group's commitment to delivering an elevated banking experience to transferring HSBC customers. Concluding his remarks, Mr Alsharifi acknowledged the pivotal role played by the Bahraini government and the CBB in strengthening the nation's financial and banking ecosystem, noting how their support has empowered initiatives that drive sectoral growth and resilience, and said: 'The transfer of HSBC's retail banking operations in Bahrain represents a key achievement in our pursuit of strategic objectives, enhancing our market reach and shareholder value. This milestone aligns with BBK's broader vision of strengthening its foothold in the banking sector by leveraging strategic opportunities that support the bank's long-term ambitions.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Times of Oman
4 days ago
- Business
- Times of Oman
Bank Muscat Wins Prestigious Most Innovative Retail Award from Global Brands
Bank Muscat, the financial services provider in the Sultanate of Oman, has proudly won the Most Innovative Retail Award at the esteemed Global Brands Awards held recently in Dubai. Salim Said Al Shanfari, Bank Muscat's Representative in Dubai received the award on behalf of the Bank. The event celebrated outstanding brands from various industries, bringing together business leaders for a memorable evening. This recognition underscores the Bank's relentless pursuit of excellence in providing cutting-edge financial solutions and services tailored to meet the evolving needs of its retail customers. It also reflects the Bank's commitment to innovation and customer-centricity in the competitive banking landscape. To enhance service delivery, Bank Muscat is actively improving its electronic channels and banking devices, ensuring that customers receive the best possible services at all times. In response to valuable customer feedback, the Bank has recently launched a new version of its Mobile App and revamped over 200 e-services, further demonstrating its dedication to innovation and creativity. The Bank Muscat portfolio features a comprehensive array of retail banking services and products designed to meet the diverse needs of its customers. Offerings include personal finance, auto financing 'Sayyarati,' housing finance 'Baituna,' as well as travel and study financing options. Customers can also open children's accounts, apply for credit or prepaid cards electronically, and access services for car insurance, checkbooks, and utility bill payments. In addition to these services, customers benefit from seamless fund transfers within Bank Muscat accounts and to other local banks, as well as international transfer services. They can make speed transfers to countries including India, Pakistan, Sri Lanka, the Philippines, Bangladesh, and Egypt, along with multiple other countries via the SWIFT network. The Bank also offers a Zakat calculator and donation services, allows customers to update their 'KYC' data, apply for the Themaar savings plan, and explore investment opportunities through the Bank Money Market Fund, the Oryx Fund, and the Al Tharwa Fund. Bank Muscat holds the distinction of being consistently voted as the Best Bank in Oman by prestigious local, regional and global institutions. Recently, it has been listed within Forbes Middle East Top Companies 2025. The Bank was also named Oman's Best for Digital Solutions from Euromoney Private Banking awards 2025, Best Bank in Oman from Global Finance, Best Financial Services Provider in Oman & the Best Payment Solutions Provider in Oman from World Business Outlook Awards 2025.
Bloomberg
6 days ago
- Business
- Bloomberg
TD Bank Needs to Turn on Earnings ‘Afterburners' to Extend Winning Streak
Toronto-Dominion Bank 's stock surge is sustainable, market watchers believe, but only if the bank sends the right message to shareholders and delivers solid earnings for the rest of the year. The firm spent years in the penalty box under the shadow of US investigations that culminated in fines of more than $3 billion and a cap on its American retail banking business last October. Its stock slumped even further when it suspended its financial guidance less than two months later.
Yahoo
16-07-2025
- Business
- Yahoo
2 Costly Mistakes Americans Make With Their Savings, According to Santander Bank
A new survey from Santander Bank reveals some troubling truths about what Americans are doing with their savings — many are unknowingly putting their cash at risk and leaving free money on the table. Find Out: Read Next: According to the survey, more than half of Americans (52%) do not realize that a high-yield savings account (HYSA) is a good place to keep emergency savings, as many are unaware of FDIC insurance protection. Even more concerning, only 35% recognize that HYSAs carry less risk than investment accounts. These misunderstandings are leading to two major financial missteps that could cost consumers hundreds, or even thousands, of dollars over time. Underutilizing High-Yield Savings Accounts Despite offering interest rates that can be 10 times the national average, high-yield savings accounts remain underused by many Americans. 'Many consumers believe they need to break up with their primary bank in order to open a high-yield savings account, and they don't understand how easy it is to move money to and from their high-yield savings account,' said Swati Bhatia, head of retail banking and transformation at Santander Bank. There's also confusion about what HYSAs are best used for. While they're ideal for emergency savings, they're also a smart option for short-term goals like travel, home repairs or large purchases. 'The safety and security of high-yield savings accounts is underestimated, and may even be confused with riskier accounts, like investments,' Bhatia said. That confusion can come with a real cost. Many consumers continue to keep their money in traditional savings or checking accounts that offer minimal interest, which means they could be missing out on hundreds or even thousands of dollars in free money. For example, someone with $10,000 in a HYSA earning a 4.00% APY could generate over $400 in interest after one year. This compares to less than $40 for someone earning the national average of 0.38%. 'Our research shows that 9 in 10 high-yield savings accountholders agree these accounts help them build their savings faster,' Bhatia said. 'The interest they earn is meaningful to their finances.' Learn More: Storing Emergency Funds in Risky Investment Accounts The survey also found that 34% of Americans with brokerage accounts are using them to hold emergency savings — a risky move that could backfire during market downturns. 'While brokerage accounts can be a great way to save for longer-term goals, they aren't covered by FDIC insurance, so investment risk and market volatility makes them a risky option for keeping funds that may be needed sooner,' Bhatia said. 'If you need to access your funds during a time of market volatility, you may have less than what would be expected and be unable to cover an emergency expense.' This could leave you scrambling to find the funds, or worse, needing to take on debt to cover an unforeseen event. Why Making the Most of Your Savings Matters Now More Than Ever In times of economic uncertainty, having a secure emergency fund is more than just smart — it's essential. 'A high-yield savings account can kickstart an emergency savings fund, which can be the buffer you need to overcome a significant financial emergency,' Bhatia said. 'These accounts are safe and grow steadily without being exposed to market risk — which tends to increase during times of economic uncertainty — so you can be sure deposits will be available when you need them.' More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck This article originally appeared on 2 Costly Mistakes Americans Make With Their Savings, According to Santander Bank
