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Monday, December 4, 2023

Banking & Finance

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Bank of America Reports Rise in Small Business Credit Card Balances

According to a bank report, credit card balances among small businesses that use Bank of America services have increased and surpassed 2019 levels in some categories. As of October, businesses with annual revenue between $1 million and $5 million had average credit card balances 18% higher than the 2019 average. In contrast, small businesses with revenue under $100,000 have credit card balances only 4% higher than 2019 levels...

Public Markets

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Digital Banking Trends Focus on Real-Time Payments and Personalization

As the financial industry undergoes continuous transformation, the importance of quality digital services in banking is increasingly evident, influencing customer satisfaction and shaping competitive landscapes. A recent report by Susan Foulds from Keynova Group sheds light on key trends, emphasizing the growing significance of real-time payments (RTP), personal financial management (PFM) tools, and other innovative services...

Private Markets

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Blackstone Nears Completion of $400 Million Raise for Private Credit Fund

Blackstone, a leading investment manager, is reportedly in the final stages of raising approximately $400 million for its Blackstone Private Credit Fund (BCRED), aiming to secure additional investment advantages. The New York-based firm plans to raise funds through collateralized loan obligations (CLOs) secured by loans held by its flagship $52 billion private credit fund, according to documents viewed by the Financial Times...

Features

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UBS CEO Sergio Ermotti Highlights Market Confidence with Successful AT1 Bond...

UBS Group CEO Sergio Ermotti expressed optimism and confidence in the Swiss banking system following the successful issuance of additional Tier 1 (AT1) bonds. The bank recently returned to the market with these bonds, which played a central role in the emergency rescue of Credit Suisse earlier this year...

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