• HSBC posts a soaring 2021 profit rebound to $5.78bn

      HSBC posts a soaring 2021 profit rebound to $5.78bn

      HSBC announced a rapid growth in revenue in 2021, BBC reported. In the first quarter the banking conglomerate saw profits surge by 79% percent, compared to the same period of last year. HSBC reported pre-tax profit of $5.78bn, up from $3.21bn a year ago. Europe’s biggest bank by assets announced new improved lending conditions for customers. In the pandemic 2020 HSBC posted a 34% drop in profits partly due to Covid-19 related economic slowdown.

    • Caution brings safety

      Caution brings safety

      A bird in the hand is worth two in the bush - or caution brings safety - has become a slogan of bank customers during the pandemic. Before Covid-19 hit, the global economy was on the rise - companies were not hesitant to take out loans, investing in new business ventures and creating jobs, individuals were taking out mortgages as well as consumer loans to finance renovation works, vacations or car purchases. In the aftermath of the coronavirus pandemic outbreak, however, the world stood still.

    • ECB steps up actions to curb rates

      ECB steps up actions to curb rates

      The European Central Bank announced intentions to step up its operations aimed to curb borrowing costs, Reuters reported. ECB intervened on the bond markets to reduce rising tension over European banks. The bank further warned the European policy makers that a too early withdrawal of stimulus packages will pose serious risk for economies.

    • Pandemic makes credit dirt cheap

      Pandemic makes credit dirt cheap

      Do you remember anything about credit ratings? We mean the funny looking numbers and letters that used to make credit cheaper or expensive. Well, we should all forget about that era of financial discipline. With the coronavirus death toll surging to record highs, countries around the globe spurred spending, boosting debt numbers to record levels. No one really cares about ratings anymore.