Wednesday, June 6, 2012

Deutsche bank : on the quest of being global leadersDeutsche bank : on the quest of being global leaders

Anshu Jain, the co-chief executive, intended to make deutsche bank, the only “truly global” bank on his first day of interaction with staff. Deutsche focuses now to join the top 5 or 6 global lenders list. Instead of tough competition with large investment banks like HSBC, JP Morgan, Barclays, Bank of America, Morgan Stanley etc., Euro zone crisis and missteps by them can help Deutsche bank to win market share.

Closer to home, Deutsche Bank said it would integrate the Asset management and wealth management divisions into a new standalone unit as part of a strategic overhaul introduced by Jain and co-executive Juergen Fitschen.

Bank has made some major appointments in this regard n prepared a 15 member committee to revise the strategies which includes Zar Amrolia- head of foreign exchange, Ram Nayak – Chairman of Emerging market Committee and Michael Ormaechea- head of Fixed Income Currencies commodities Asia Pacific.

Tuesday, May 29, 2012

Airtel and Axis Bank ink m-banking deal

Bharti Airtel’s subsidiary, Airtel m-commerce services and Axis bank partnered to provide banking and payment services to India’s sub-urban and rural population.

"According to estimates, nearly 43 percent of our country's population does not have bank accounts and continues to rely on cash for majority of transactions as well as payments," said Sanjay Kapoor, chief executive officer (India and South Asia), Bharti Airtel.

The new services will allow the customers to enjoy their money transactions like sending, withdrawal, safe deposits etc. and services like. Micro-recurring deposits, small loans and micro-insurance products through their mobile device, acting as a no-frills bank account service.

Infosys, the IT giant, will service as the Technology Innovation partner.

Thursday, May 10, 2012

Savings account rates differ from bank to bank

Compare the saving account rates of different banks nowadays wherein you will find a good difference in what they are offering. Some may be offering a rate of 3 % and there are others who have upgraded it to nearly 6 %. This really calls for some good amount of research on such banks and the one with a legitimate offering should not be missed out. Bank with a trusted name in the regions is always admired and should be the one you must be going with.
Such a huge difference in the Savings account rates for different banks really calls out for the competition that they are facing at their end as well. Each of the banks is trying to snatch other banks customers which in a way are helping the end user to get hold of good rate on his saving account.
Summary: With so many banks offering saving account rates at almost 6%, the customer choice has been increased to enormous level.

Tuesday, March 13, 2012

Federal Bank has set up 100 branches in one day

Private sector lender Federal Bank has set up as many as 100 branches in one day on 10th March 2012, Saturday. This has taken the total branch count of the bank to 938.

“We expect to touch 1,000 branches by June this year,” said Mr R. Sivakumar, Zonal Head – Bangalore Zone, Federal Bank.

. The bank also plans to include 31 new branches in its Bangalore and Chennai zones. “Of these new branches, seven would be in Karnataka, three in Andhra Pradesh and one in Goa,” he said.

Bangalore zone has states namely Karnataka, Andhra Pradesh and Goa included.