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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Allegations of misselling risky AT1 bonds to retail investors come as a new headache for India’s largest private bank. The regulatory backlash could leave a $100 million hole in its books.
HDFC Bank is in a pickle.
It faces a possible hit of at least $100 million (almost Rs 1,000 crore)—or about 5% of its quarterly profits—over the alleged misselling of high-risk additional tier 1, or AT1, bonds of the now defunct Swiss financial major Credit Suisse.
That, in turn, has triggered regulatory scrutiny. In the UAE, HDFC Bank is being investigated by the Dubai Financial Services Authority, the financial services regulator of the Dubai International Financial Centre free zone, for violation of its norms governing AT1 bond sales. This, after reports surfaced about the misselling of AT1 bonds to retail …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The popular super app startup is seeing widening losses, Dubai’s financial zone wants more wealth and Aramco’s big quarter.
