3 min read Last Updated : Jul 07 2024 | 5:43 PM IST Union Bank of India’s Swiss challenge auction on July 5 for five troubled accounts has attracted counter bids for only Jaypee Healthcare Ltd. Delhi-based Shine Star Build Cap emerged as the highest bidder to acquire the public sector lender’s non-performing debt...
Tag: Banks
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Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. Denis Balibouse | Reuters The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed...
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Swiss Regulator Says HSBC Violated Money Laundering Regulations
Swiss financial market supervisory authority FINMA has ruled that HSBC Private Bank (Suisse) SA violated money laundering regulations. This ruling followed enforcement proceedings opened by FINMA in December 2021 and focused on the financial institution’s banking relationships with two unnamed politically exposed persons, FINMA said in a Tuesday (June 18) press release. “HSBC Private Bank...