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Standard Chartered Launches ESG-Linked Cash Account “As companies move from ambition to execution on sustainability, banks play an important role in enabling and motivating them on this journey,” said Mahesh Kini, Global Head of Cash Management at Standard Chartered. “The launch of our ESG-linked Cash Account is another testament to our commitment to offer our clients solutions that empower them to meet both their treasury and sustainability goals.” https://lnkd.in/eU_FBrbt Rami Lawand Alvina Neo Marisa Drew Charlotte Love Christopher Ben Parvinder Singh Sameer Nemazie Mir Rashaduddin Muadh Al Balushi #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

HSBC sells HSBC Argentina to Argentina largest private financial group Grupo Financiero Galici for $550 million, with the sale of HSBC Argentina business to result in $1 billion pre-tax loss.  With the sale of HSBC Argentina (America region), HSBC remains committed to Mexico & United States. Read - https://lnkd.in/gRUgNgKq follow Caproasia | Driving the future of Asia HSBC has announced to sell HSBC Argentina to Argentina largest private financial group Grupo Financiero Galici for $550 million, with the sale of HSBC Argentina business to result in $1 billion pre-tax loss.  With the sale of HSBC Argentina (America region), HSBC remains committed to Mexico & United States.   HSBC (9/4/24): “We’ve agreed to sell our banking operations in Argentina to Grupo Financiero Galicia – the largest private financial group in Argentina.  The deal is worth US$550m, subject to certain price adjustments, and is expected to be completed within the next 12 months. As a result of the deal: 1) A US$1.0bn pre-tax loss on disposal will be recognised in 1Q24, 2) There will be an insignificant impact on the Group’s common equity tier 1 (CET1) ratio by closing 3) At closing, c.US$4.9bn of historical cumulative foreign currency translation reserve losses will be recognised in the income statement – these have already been recognised in capital and will have no impact on CET1 or tangible net asset value, 4) The transaction will be treated as a material notable item and excluded from the dividend payout calculation.  In early April 2024, HSBC has been reported to be reviewing plan to sell HSBC Germany wealth management, custody & fund administration business.  In 2024 January, HSBC completed the sale of HSBC retail banking in France to Crédit Commercial de France (CCF) on 1st January 2024, with HSBC to focus on becoming a leading international wholesale bank in Europe and targeted wealth & private banking business.  Noel Quinn, HSBC Group Chief Executive: “We are pleased to agree the sale of HSBC Argentina. This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher value opportunities across our international network.   HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network. Furthermore, given its size, it also generates substantial earnings volatility for the Group when its results are translated into US dollars. Galicia is better placed to invest in and grow the business.  We remain committed to Mexico and the US, and to serving our international clients throughout our global network with our leading transaction banking capabilities.”

HSBC sells HSBC Argentina to Argentina largest private financial group Grupo Financiero Galici for $550 million, with the sale of HSBC Argentina business to result in $1 billion pre-tax loss.  With the sale of HSBC Argentina (America region), HSBC remains committed to Mexico & United States. Read - https://lnkd.in/gBruFtYQ follow Caproasia | Driving the future of Asia HSBC has announced to sell HSBC Argentina to Argentina largest private financial group Grupo Financiero Galici for $550 million, with the sale of HSBC Argentina business to result in $1 billion pre-tax loss.  With the sale of HSBC Argentina (America region), HSBC remains committed to Mexico & United States.   HSBC (9/4/24): “We’ve agreed to sell our banking operations in Argentina to Grupo Financiero Galicia – the largest private financial group in Argentina.  The deal is worth US$550m, subject to certain price adjustments, and is expected to be completed within the next 12 months. As a result of the deal: 1) A US$1.0bn pre-tax loss on disposal will be recognised in 1Q24, 2) There will be an insignificant impact on the Group’s common equity tier 1 (CET1) ratio by closing 3) At closing, c.US$4.9bn of historical cumulative foreign currency translation reserve losses will be recognised in the income statement – these have already been recognised in capital and will have no impact on CET1 or tangible net asset value, 4) The transaction will be treated as a material notable item and excluded from the dividend payout calculation.  In early April 2024, HSBC has been reported to be reviewing plan to sell HSBC Germany wealth management, custody & fund administration business.  In 2024 January, HSBC completed the sale of HSBC retail banking in France to Crédit Commercial de France (CCF) on 1st January 2024, with HSBC to focus on becoming a leading international wholesale bank in Europe and targeted wealth & private banking business. Noel Quinn, HSBC Group Chief Executive: “We are pleased to agree the sale of HSBC Argentina. This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher value opportunities across our international network.   HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network. Furthermore, given its size, it also generates substantial earnings volatility for the Group when its results are translated into US dollars. Galicia is better placed to invest in and grow the business.  We remain committed to Mexico and the US, and to serving our international clients throughout our global network with our leading transaction banking capabilities.”

Read our February Banking and Finance update… In this edition we cover the recent FSB super-complaint regarding the proposal to extend regulatory rules to certain business loans, the FCA’s review of the retail banking sector’s implementation of the Consumer Duty, topical cases of interest and new legislation to watch out for (such as FSMA 2023)… https://lnkd.in/eqGgEqaP

"International banking group Standard Chartered announced the launch of a new #ESG-linked Cash Account, enabling corporate clients to be rewarded, through the Credit Balance Interest Rate or Fee Pricing, for meeting material ESG-related targets. The new ESG-linked cash account forms the latest in a series of #Sustainability-focused Transaction Banking Cash solutions by Standard Chartered, which also includes the #Sustainable Account, which allows retain access to cash for day-to-day Liquidity while using surplus cash to support activities contributing to the United Nations #SDG's, Sustainable #Trade Finance, designed to help clients implement more sustainable practices, and Sustainable #Financial Institution Trade Loan, providing Liquidity to support Trade Flows associated with Sustainable #Development." https://lnkd.in/gqkh5drz

Whether you’re looking at your next big idea or expanding overseas, get the tailored day to day support, advice, financial solutions and insights you need to reach your ambitions. Please get in touch if you wish to have a chat ash.mcbrearty@hsbc.com #banking #internationalgrowth #sustainablefinance #innovativesolutions #relationshipbanking

The PwC 2023 Global Treasury Survey reveals that transaction banking activities are among the top 10 priorities for CFOs and Treasurers globally and in the Australian market. However, many corporates are facing transaction banking challenges, such as uncompetitive fee structures, subpar customer service, and outdated banking solutions. These issues often lead to operational difficulties, including time spent on manual interventions, reconciliation and tracing issues, and data security limitations. Learn more about these challenges and how to overcome them in this article. #PwCtreasuryadvisory #transactionbanking #treasury #finance #bankingsolutions

🌐 CHRISTYS & CO LLC - Elevating Banking Solutions Globally At Christys & Co LLC, we take pride in being your trusted advisors in the intricate world of banking. Our dedicated banking practice specializes in offering comprehensive guidance to financial institutions and corporate clients, covering a spectrum of domestic and international bank finance.   🏦 Services Tailored to Your Needs: From secured lending and project finance to trade finance, asset finance, and strategic restructurings, our team is equipped to navigate the dynamic landscape of the financial industry. We understand that every client is unique, and our advisory approach is centered around tailoring solutions to your specific needs.   🌍 Global Reach, Local Expertise: Representing both local banking institutions and corporate clients, our global perspective is complemented by a deep understanding of local markets. This synergy enables us to offer insightful advice that aligns with your business objectives while ensuring compliance with international standards.   ⚖️ Navigating Legal Terrain: In addition to our advisory services, we bring a wealth of experience in banking litigation and debt restructuring. Our team is committed to safeguarding your interests, providing strategic counsel, and finding innovative solutions to complex legal challenges.   💡 Why Choose Christys & Co LLC? Unparalleled expertise in secured lending, project finance, trade finance, asset finance, and restructurings. A client-centric approach that tailors solutions to your unique requirements. Global insights combined with local expertise for a holistic perspective. Proven success in banking litigation and debt restructuring.   🤝 Connect with Us: Whether you are a financial institution seeking expert guidance or a corporate client navigating the complexities of bank finance, Christys & Co LLC is your dedicated partner. Let's embark on a journey to elevate your banking experience. #BankingSolutions #FinanceAdvisory #GlobalBanking #ChristysAndCoLLC

Recognized as Law360's Banking Group of the Year, @DavisPolk guides UBS and ensures financial market stability amid major bank collapses. #LegalExcellence #FinanceLaw #MarketLeadership #banking #news #finance #fintech https://lnkd.in/ev-EK6H5

Our February Banking and Finance update - this edition includes the recent FSB super-complaint regarding the proposal to extend regulatory rules to certain business loans, topical cases of interest and new legislation to watch out for (such as FSMA 2023 and the Economic Crime and Corporate Transparency Act 2023). https://lnkd.in/eeAVEA34