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RBI rejects 3 'not suitable' applications for setting small finance banks

Business Standard - FInance

The Reserve Bank of India has rejected three applications, including the of West End Housing Finance, for setting up small finance banks. These applications were found not suitable for granting of in-principle approval to set up small finance banks, it said in a statement on Tuesday.

Finance 98
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HSBC downgrades JPMorgan Chase, adopts 'a more cautious stance' on bank stocks

CNBC: Investing

The analyst noted a "more cautious stance" on larger banks like JPMorgan and Goldman Sachs over what he said is a still choppy macroeconomic backdrop. Martinez also downgraded Bank of America stock to hold and trimmed his rating on Goldman Sachs to reduce. " Analysts are split on JPMorgan Chase shares.

Bank 73
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Coinbase is the 'most misunderstood' crypto stock and can rally nearly 50%, Bernstein says

CNBC: Investing

"Coinbase is the most misunderstood company in our Crypto coverage universe. Despite multiple growth levers, consensus remains bearish on the largest Crypto universal bank," he wrote. Shares of Coinbase closed at $344.82 Tuesday afternoon, meaning Chhugani's revised target represents upside of approximately 48%.

Stock 70
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People Moves Monday: Northern Trust, Lloyds Bank North America and more…

The TRADE

Northern Trust promoted Dane Fannin as its new head of global foreign exchange (GFX)and securities finance within its capital markets business. In his new role, Fannin will be responsible for innovation and business growth across Northern Trust’s suite of GFX and securities finance solutions.

Bank 52
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On-Cycle Private Equity Recruiting: Will PE Firms Start Recruiting 10-Year-Old Children Soon?

Mergers and Inquisitions

The short answer is that it’s based almost entirely on your university, bank name/group, GPA, and other criteria you have no way to change. The biggest issue in this period is that you may decide against IB, PE, and other finance roles for personal or career reasons.

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JPMorgan upgraded by KBW one day after downgrade at other firm knocked stock

CNBC: Investing

"We are bullish on the long-term structural benefits of scale and have an affinity for business models that can produce leading returns with high degrees of predictability — both distinguishing characteristics of several Universal Banks," the analyst wrote of the larger banks.

Stock 58