Exclusive: Goldman Sachs aims to double lending to wealthy private bank clients
oldman Sachs (GS.N), opens new tab aims to double its lending over the next five years to ultra-wealthy private bank clients with account sizes exceeding $10 million, as it gathers more deposits to supercharge lending, the bank’s private banking chief told Reuters. The plans, previously unreported, were disclosed to Reuters by Nishi Somaiya, Goldman’s global head of […]
Greece plans early repayment of 8 bln euros from first bailout, officials say
Greece plans an early repayment of 8 billion euros ($8.61 billion) of bailout loans to euro zone countries this year as the country’s economy rebounds from the previous decade’s debt crisis, two officials told Reuters on Wednesday. Greece regained its investment grade late last year after languishing for 13 years in the “junk” category, which […]
Cryptoverse: Soccer tokens shine ahead of summer of sport
As football fever builds for major tournaments in Europe and the Americas, a small yet buzzy part of the cryptoverse is stealing centre stage: fan tokens. These are not your average digital assets, they’re tokens issued by national sides or individual clubs that promise supporters a tradeable way to engage with their teams. Activity in […]
Banks say growing reliance on Big Tech for AI carries new risks
The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services – widely used already for detecting fraud and money-laundering – has soared since the launch of OpenAI’s viral chatbot ChatGPT in late 2022 as […]
BBVA vows to stand by Sabadell’s small business customers
Spain’s BBVA sought on Monday to ease concerns about its 12.28 billion euro ($13.15 billion) bid for smaller rival Sabadell by saying it would continue Sabadell’s lending arrangements with its small and medium-sized business clients for at least a year. The bid, which is opposed by the Spanish government, was rejected by Sabadell’s board, prompting BBVA to […]