Regional banking shares in the United States experienced a significant decline for the second consecutive day Thursday (Feb. 1). The sell-off was triggered by New York Community Bancorp’s (NYCB) report, released Wednesday (Jan. 31), on the challenges it faced in its commercial real estate portfolio, which...
New York Community Bancorp (NYCB) shares closed down 38% Wednesday (Jan. 31) following its announcement of a dividend cut and an unexpected loss. This news surprised investors who had considered NYCB one of the winners of the 2023 crisis that saw the downfall of Signature Bank,...
BNY Mellon has unveiled its new cash management solution, called Virtual Account-Based Solutions. This offering aims to provide clients with enhanced access and control over their cash administration activities and reporting capabilities, the bank said in a Monday (Jan. 29) press release. The Virtual Account-Based...
America’s regional lenders say they’re emerging from the shadow of Silicon Valley Bank. That bank’s collapse last year sent shockwaves through the industry, but now, executives at mid-sized banks told the Financial Times (FT) Monday (Jan. 29), the pressure to keep depositors from leaving has begun to...
Lloyds Bank is reportedly eliminating 1,600 jobs amid an increased focus on digital banking. The British lender also plans to create 830 new jobs for its “relationship growth” team to understand customers’ financial aims and offer services at branches, via video meetings and over the phone, a Lloyds spokesperson...
Jack Henry has introduced a cloud-native banking solution designed to enable community banks and credit unions to better support small and medium-sized businesses (SMBs). The new Banno Business solution equips these financial institutions with advanced digital tools that deliver modern banking experiences, the company said...
Santander Mexico, a subsidiary of global banking giant Santander, is preparing to launch its digital bank service. Matias Nunez, the head of digital and innovation at Santander Mexico, said the service, Openbank, will launch this year, Reuters reported Tuesday (Jan. 23). Openbank received its license...
Picture this: a 28-year-old $400,000 in debt who has never held a job. Would you give them a loan? Chances are, probably not. And that’s the thought taken by most banks, too. But, just like most banks, you probably weren’t picturing a doctor — or...
KeyCorp saw net loan charge-offs rise during the fourth quarter, driven by real estate, healthcare and consumer goods. They rose to $76 million during the quarter, up from $74 million in the previous quarter and $41 million a year earlier, the bank said in a Thursday...
