Financial services

With its geographical location and tech savvy young population, Türkiye may become a fintech hub in its region, says Erkan Kork, the president of the Payment and Electronic Money Institutions' Association (TÖDEB).

AWS has launched its brand new program AWS Global Fintech Accelerator in collaboration with NVIDIA and Vestbee that will equip fintech startups with tools, resources and a wide network of top experts, and VC funds to fast-track their AI development and business success. 

Leaders of business associations have welcomed the Central Bank's move to hike its policy rate sharply by 650 basis points, calling it a step taken toward ensuring price and financial stability.

The Central Bank on June 22 increased its one-week repo auction rate from 8.5 percent to 15 percent. This has been the first rake hike since March 2021.

Pancreta Bank will make the first significant and fundamental step toward the creation of a strong bank in Greece with the full absorption of HSBC's operations in the country on July 28.

This will be followed by the completion of the mergers with Central Macedonia Bank and with Attica Bank. 

China's Central Bank yesterday cut two benchmark interest rates, following several similar measures in recent days in a bid to counter the post-COVID growth slowdown in the world's second-largest economy.

Last week, the People's Bank of China (PBoC) lowered two other key rates and pumped billions into financial markets, as fresh data showed the economy continued to struggle.

How would you feel if your neighborhood bank operated one day as National, the next as Eurobank, the third as Alpha Bank, the fourth as Piraeus and the fifth as a cooperative lender?

The management teams of Greece's four systemic banks received a very positive welcome from the representatives of international institutional portfolios at the three-day European banking roadshow organized last week by Goldman Sachs in Paris, sources have indicated. 

The European Commission is preparing to create a digital euro, it became clear from a draft law seen yesterday by DPA.

Consumers in Eurozone countries will be able to pay with the digital euro in a variety of ways, for example through their smartphones or smartwatches.

This payment method differs from paying by debit or credit card, DPA notes.

UBS is set to finalise the takeover of Credit Suisse today, but the hardest part is yet to come: turning the arranged marriage of Switzerland's biggest banks into a success.

On June 5, the two Zurich-based banks announced that the merger should be completed on June 12.

A merger this complex could turn out to be a nightmare, particularly given how little time UBS has had.

The U.S. Federal Reserve is widely expected to pause its campaign of interest rate increases on June 14 to give policymakers more time to assess the economic impact of existing hikes and recent banking stresses.