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With 61% of Loan Book Tied up in High-Risk Microcredit, Bandhan Bank Feels the Heat of Coronavirus Lockdown
The nationwide lockdown to fight COVID-19 presents a major crisis for banks with high exposure to the microcredit segment. With many small businesses on the verge of shutting down, loan repayments may stop.
- Categories
- Coronavirus, Finance
- Region
- South Asia
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Mobilizing Development Banks to Fight COVID-19
Both developed and developing countries urgently need large-scale funding to help maintain economic activity and jobs during the current pandemic. Fortunately, more than 400 development banks around the world can play a vital role in minimizing economic decline, supporting recovery, and financing structural transformation.
- Categories
- Coronavirus, Finance
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Press Release: JPMorgan Chase Makes $50 Million Philanthropic Investment to Help Address Immediate and Long-Term Impacts of COVID-19
JPMorgan Chase announced a $50 million global philanthropic commitment to address the immediate public health and long-term economic challenges from the COVID-19 global pandemic.
- Categories
- Coronavirus, Finance
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Press Release: Citi Launches $150 Million Impact Investing Fund
This is the largest fund of its kind to be launched by a bank using its own capital. Investments, which could be as high as $10 million, will primarily be made in companies that have demonstrated proof of concept, built an existing customer base, secured prior rounds of funding and exhibited the potential for scale in multiple markets. A portion of the fund is designated for earlier stage seed investments.
- Categories
- Entrepreneurship, Finance, Investing
- Region
- North America
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Fintech in Brazil Vows to Prove Goldman, Morgan Stanley Wrong
“Given how much we’re growing, I think it’s heroic that we’ve been turning profits and are delivering the profitability levels we already do,” Menin said in an interview at Banco Inter’s Belo Horizonte headquarters. “I lose no sleep over the difference between our profitability and that of Brazil’s biggest banks.”
- Categories
- Finance
- Region
- Latin America
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Goldman Sachs to Spend $750 Billion on Climate Transition Projects and Curb Fossil Fuel Lending
“There is not only an urgent need to act, but also a powerful business and investing case to do so,” Goldman Sachs CEO David Solomon wrote in an opinion piece published Sunday in the Financial Times.
- Categories
- Environment, Finance
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Bank of America Is Reportedly Piloting Ripple’s Distributed Ledger Technology
When questioned about this recently, a Ripple representative stated that the bank would not confirm or deny whether it was a client, however, it said the companies had participated in a pilot together.
- Categories
- Finance
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Paytm Dispels the Notion That Payments Banks Can’t Be Profitable in India
Nearly a third of all mobile banking transactions in India are powered by PPB and the firm claims it processes over Rs3 lakh crore worth of digital transactions annually, next only to the country’s largest lender State Bank of India.
- Categories
- Finance
- Region
- South Asia
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