Today in ST news: TD Bank Group and MPOWER Financing have announced a collaboration designed to help simplify the banking experience for international students in Canada. Find out more: https://buff.ly/3Y2HLOW
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Pepper MarketScope The New Economy Needs Teamwork: Banks & Private Credit Must Collaborate The future of financing the "new economy" - driven by digitization and decarbonization - requires collaboration between traditional banks and private credit providers, according to Hoby Buvat, co-head of capital markets EMEA at Deutsche Bank. This shift is driven by the massive capital expenditure needs of these new sectors. Public and private money, including private equity and credit, will be crucial. Key takeaways from the article: 1) Collaboration is key: Banks are moving away from competition with private credit and instead focusing on how they can work together to serve clients better 2) The new economy needs new solutions: Traditional lending models might not be enough to meet the financing demands of innovative companies 3) Leveraged finance is booming in Europe: Both leveraged loans and high-yield issuance are exceeding 2023 volumes, with refinancings leading the way. M&A activity is expected to pick up soon 4) Floating-rate instruments are popular: Borrowers are looking to capitalize on potential rate decreases with these instruments 5) Distressed debt is a concern, but defaults remain low: While some high-profile companies are struggling, overall default rates are healthy across the US and European markets What are your thoughts on the evolving landscape of corporate finance? Do banks and private credit need to work together? Share your insights in the comments https://lnkd.in/gsahe-25 #corporatefinance #neweconomy #digitization #decarbonization #financialcollaboration #bankingtrends #floatingratedebt #interestfluctuations
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An interesting perspective from BNN Bloomberg. In this article, it is suggested that Investment Banks and Private Credit Funds need to work together to "satisfy the massive capital expenditure requirements for the new economy including digitization and decarbonization." According to Hoby Buvat, Co-head of Capital Markets EMEA at Deutsche Bank “When you think about the massive capex requirements for the new economy - digitization, decarbonization - a lot of money will come from private money as well as public money, be it private equity or private credit.” #privatecredit #privatedebt #capitalmarkets #banks #investmentbank #EMEA #capex #digitization #decarbonization #privateequity #money #mergersandacqusitions #finance #investing #economy #management https://lnkd.in/g_nTJzYv
Banks, Private Credit Need to Team Up for Sake of New Economy - BNN Bloomberg
bnnbloomberg.ca
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Experts believe the acquisition would go a long way in consolidating RBC's position in Canada's concentrated banking market - where the top six lenders control almost 80% of the country's banking assets... #antitrust #concentration #antitrustlaw #competitionlaw #lending #banking #financialsystem #banks #consolidation
RBC's Acquisition of HSBC Unit Gets Green Light from Canadian Competition Bureau
pymnts.com
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🚀 Bank of America Expands Middle-Market Investment Banking Team 🏦💼 Bank of America is revving up by doubling its middle-market investment banking team to tackle the recent deal slowdown. With CEO Brian Moynihan pumped about the opportunity, the bank's investment banking fees hit $1.2 billion for the quarter, marking a 2% increase from last year. They capitalize on the current middle-market surge, even as clients crave economic certainty. While the market rebound timing remains a mystery, Bank of America's ability to roll with the punches shines through. 🌟📊💰 #BankingNews #InvestmentBanking #Banking #Investment
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Interesting analysis of what is happening in the private credit space. Funds borrow from banks to, hopefully, enhance performance for investors. How much of a risk for the banking system this type of “financial gymnastics” represents is still unclear and increasingly drawing scrutiny from regulators.🤔 The differences in default rates between the economy and the private credit sector is also worth looking at as far as investors are concerned: window dressing or indeed better outcomes? 🤔 Having been involved in debt restructuring in my career I know firsthand how creative one can be to push forward “things” while keeping the borrower current on interest payments…😉
Private credit ties to banks deepen in Europe as default risk rises
reuters.com
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Private credit (non-banks and credit funds) has fast been gathering momentum in Australia and New Zealand, driven by contraction in traditional bank financing (big 4 banks), particularly in the mid-market. While this trend is nothing new (growing since the GFC in 2008), the recent pandemic has further personified private credit as a valuable funding source for growing businesses. BDO's Tom Hogarth has explored the drivers of the significant rise in corporate debt opportunities in the mid-market landing with private credit, including ESG policy, recessionary mindset for lenders and borrowers facing distress or special situations. #Finance #BusinessGrowth #PrivateCredit
Private credit growth & the benefits for growing businesses
bdo.smh.re
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Private credit strategies are increasingly used by GPs as a viable alternative to bank financing, with 37% taking loans from private credit institutions in 2023. More than half (55%) of GPs in North America utilized them in 2023, 58% in MENA, and 24% in Europe, but only 8% in APAC, according to a new survey from S&P Global Market Intelligence. By William Bennett-Lynch Read more: https://okt.to/SbHaUx #privatedebt #privatecredit #alternativeinvestments
Private equity GPs expand usage of private credit loans – S&P | Read more
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Eurobank has surpassed initial expectations with its financial results for the year 2023, setting the stage for a robust business plan spanning 2024 to 2026, with the aim of positioning the group as a regional banking powerhouse. In addition, the bank’s forward-looking vision focuses on bolstering its regional footprint. In this context, there is particular attention on the bank’s thriving presence in Cyprus, which is expected to deepen in the coming years. It should be noted that the bank’s board of directors will be meeting in Cyprus on March 20-22, a reflection of the island’s growing importance to the bank’s plans going forward. #Cyprus #business #Economy #banking
Eurobank growing into a regional powerhouse — Cyprus central to its plans | Cyprus Mail
cyprus-mail.com
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Creditreform Rating affirms ING Bank N.V.’s Long-Term Issuer Rating at A (Outlook: stable). 🔎Key Rating Drivers • Strong underlying profitability and improving cost efficiency, however, profitability should have peaked in 2023 in the current cycle • Low and stable impaired loan ratio, cost of risk normalized after significant one-off provisions for Russia-related exposures in 2022 • Satisfactory capital metrics, CET1 ratio supported by robust internal capital generation • Sound liquidity position Rating Report: https://lnkd.in/drCdPN2Y #Creditreform #Rating #ING #Banking #Finance
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