Swiss regulator calls for more powers after Credit Suisse collapse

Switzerland’s financial regulator, FINMA, has called for increased legal powers and a change in approach following the collapse of Credit Suisse. The bank was rescued by UBS in March after risk management failures and scandals. FINMA has criticized the bank for taking “far-reaching and invasive measures” to supervise and rectify deficiencies in corporate governance, risk […]

Indonesia’s bank Mandiri strikes back at fintech rivals

Indonesia’s Bank Mandiri’s digital banking apps, particularly Livin’, are boosting confidence as fintech players seek to retain customers and expand into the country’s unbanked population. The bank’s president director, Daramawan Junaidi, explains that traditional banks struggle to stay updated with digitalization due to the rise of fintech startups. Bank Mandiri has revamped its Livin’ mobile […]

EBRD board approves 4B euro capital increase to boost Ukraine funding

The European Bank for Reconstruction and Development (EBRD) has approved a 4 billion euro capital increase, doubling its Ukraine investments post-reconstruction, amid donor fatigue and affecting bond prices.  The EBRD, the largest institutional investor in Ukraine, has deployed 3 billion euros for 2022-2023, but Fitch warns it could lose triple-A credit ratings if Ukraine defaults […]