Global Banking Directory 2.0
Press Release Distribution Service
Add Bank | Banking Forum Online
BankDEP Crypto Bank
BanksDaily on Twitter BanksDaily on LinkedIn BanksDaily on Instagram

Financial and Banking News

Societe Generale trader in $7.16 billion fraud

French bank Societe Generale today shocked investors by disclosing a $7.16 billion (€4.9bn) fraud by one of its traders.

Five-year senior credit default swaps on Societe Generale were at 100 basis points by 0725 GMT, traders said, 10 to 20 basis points wider than late Wednesday. Five-year subordinated credit default swaps on the bank rose 15 basis points to 150 basis points, one of the traders said.

SocGen also announced a further €2bn-plus write-down because of the credit crunch and said it would be forced to raise €5.5bn in fresh capital to strengthen its balance-sheet.

The bank said its board had turned down an offer by chief executive Daniel Bouton to resign.

Source: Reuters
Date: 24.01.2008 [163]
Get your content published on in just a few clicks.

Financial and Banking News
 Post-Pandemic Economic Recovery: Key Factors Driving Growth and Stability

The COVID-19 pandemic caused a global economic halt, resulting in disruption, job losses, and uncertainty. However, as vaccination efforts progress and countries adjust to the new normal, there is hope for an economic recovery.

 Wiki Finance Expo Sydney 2023 Is Coming Soon!

Regulation, Forex, Crypto, Web 3.0, Metaverse, AI, ESG Will Be in Focus. Taking place on November 16th, Wiki Finance Expo, Sydney 2023 is Aussie largest and most anticipated fintech event of the year. 30.10.2023 | Source: WikiExpo

 Blockchain Economy Dubai Summit 2023: Just Two Weeks Away and Buzzing with Anticipation

Dubai, UAE - The Blockchain Economy Dubai Summit is generating palpable excitement within the blockchain and crypto communities, with only two weeks remaining until the event. Scheduled for October 4-5, 2023, at the Le Meridien Dubai Hotel & Conference Center, this prestigious event gathers over 3,000 blockchain entrepreneurs, crypto enthusiasts, and industry leaders from 85 countries. 20.09.2023 | Source: Teklip

 📰 News Archive

2007-2024 © | All Banks in One Place | Privacy Policy