Spire Bank Crisis Requires Rapid CBK Intervention

Editorials Spire Bank Crisis Requires Rapid CBK Intervention Monday 03 May 2021 A branch of Spire Bank in Nairobi. PHOTO FILE | NMG The financial crisis that has ravaged Spire Bank requires swift intervention by the Central Bank of Kenya (CBK) to avert fears over the health of the Kenyan banking sector. Over the past two years, Spire Bank’s accumulated …

New Credit Suisse President Horta-Osório Says Banking Crisis Worst He Has Ever Seen

New Credit Suisse chairman António Horta-Osório told investors the recent banking crisis was the worst he has seen in his career. Speaking at an annual meeting yesterday, the former Lloyds boss told investors the situation at Credit Suisse is dire. “I have personally worked and managed several banks in different countries and have experienced many crises,” he told investors. “What …

RBI’s handling of the Lakshmi Vilas bank crisis: wiser after previous crises

Banking sector news has rarely been good in recent years: Ballooning non-performing assets, strained balance sheets, stories of unscrupulous lending and poor corporate governance have all clouded the Indian banking sector. Despite credit guarantee schemes, credit growth has also been subdued: according to data released by the Reserve Bank of India (RBI), the growth rate of personal loans was only …

Lakshmi Vilas bank crisis: working on a back-up plan, says Shakti Sinha

The board of directors is only a temporary arrangement until the name is approved by the Reserve Bank of India, Sinha said The subjectsLakshmi Vilas Bank Distressed private lender Lakshmi Vilas Bank is in dire need of capital. A clear picture of the Clix Capital group’s merger proposal will emerge in two weeks, Shakti Sinha, director of LVB’s board of …

Engaged with all stakeholders for a resolution, says RBI Guv Shaktikanta Das

The Reserve Bank of India is working with all stakeholders to resolve the Punjab and Maharashtra Cooperative Bank issue, the central bank governor said on Saturday. “The RBI has engaged with all stakeholders for the Punjab and Maharashtra Cooperative Bank resolution,” said RBI Governor Shaktikanta Das. Governor Das delivered the opening speech of the 7th SBI Banking and Economic Conclave. …

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Makhlouf oversees central bank response to Greek foreclosure crisis

Gabriel Makhlouf, the governor of the Central Bank of Ireland, has led the institution since its lockdown in Greece. The bank confirmed that Mr Makhlouf had been abroad since last month, but said he was in “constant contact” with his colleagues and was able to perform his duties during the economic crisis triggered by Covid-19. Paschal Donohoe, the finance minister, …

IndusInd Bank deposits fell 10-11% after YES Bank crisis

In the aftermath of the YES Bank crisis, deposits with private sector lender IndusInd Bank fell from around 10% to 11%, most coming from government-linked accounts. There might be some delinquency in unsecured loans due to foreclosure, but the lender is confident in a repossession. In a conference call with analysts on Monday evening, the bank’s new chief executive and …