Tag: Banking Industry
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Westpac CEO Pay Surges to Over $4 Million: A Transparent Yet Controversial Move
Westpac CEO Pay Surges to Over $4 Million Westpac Banking Corporation’s latest annual report has reignited a debate about executive compensation in the finance sector. The bank disclosed that its chief executive officer earned more than $4 million, a figure that represents a substantial increase over the previous year and places the pay level at…
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Carney-led Net-Zero Banking Alliance collapses after mass member exodus
The rise and fall of the NZBA Carney-championed and global in reach, the Net-Zero Banking Alliance (NZBA) was formed in April 2021 as part of a broader push to align lending with climate goals. Then-United Nations special envoy on climate action and finance, Mark Carney, helped bring together 63 financial institutions from 32 countries, representing…
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Lower Average Funding Costs for Greek Banks
Introduction The financial landscape in Greece is undergoing a significant transformation, primarily due to the declining average funding costs for Greek banks. With these costs now plummeting to a historical low of approximately 1%, banks find themselves in an advantageous position to enhance their profitability. This development is crucial, especially in the aftermath of June,…
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Itaú Unibanco Dismisses Employees Without Warning
Itaú Unibanco’s Recent Mass Dismissals In a shocking move on Monday, October 8, Itaú Unibanco announced the dismissal of nearly 1,000 employees, primarily from its Technology Center (CT), CEIC, and Faria Lima branches. These dismissals have raised significant concerns among labor unions and the financial landscape, as they occurred without any prior warning or discussion…