Banking Sector
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Kiwibank Reported a Profit of $127 Million in the Fiscal Year till June 30

Kiwibank Reported a Profit of $127 Million in the Fiscal Year till June 30The state owned Kiwibank announced $127 million profit after tax for the fiscal year till 30 June. The bank's profit increased twenty seven percent compared to $100million last year.

Kiwi Group Holdings profit's was boosted by added contributions from its Kiwi Wealth Kiwisaver business and the fledgling Kiwi Insurance business to $132million.

Yuan Slips Further Although the Central Bank of China Sets Higher Midpoint

Yuan Slips Further Although the Central Bank of China Sets Higher MidpointThe IRS had said in May, that fraudsters had accessed sensitive information of tax payers which they could use to gain access to the "Get Transcript" authentication process which needs clearing multiple steps.

Nedbank Reported Strong Half Yearly Results Pushed by Earnings from Ecobank

Nedbank Reported Strong Half Yearly Results Pushed by Earnings from Ecobank On Tuesday, there was a five percent jump in the share prices of Nedbank following its first half earnings results for the year. The shares spiked to R271.02. It reported an earnings growth of 15.7% which is less than the 17.5% noted last year same period.

Brian Moynihan Wants to Continue with His Dual Role in Bank of America; Share holders Vote Likely

Brian MoynihanBrian Moynihan, the CEO and Chairman of Bank of America, is hoping that he could keep continuing with his current two roles.

Australia says Along with being a Founding Member it be the Sixth Largest Shareholder of Asian Infrastructure Investment Bank

Australia says Along with being a Founding Member it be the Sixth Largest Shareholder of Asian Infrastructure Investment BankOn Wednesday, a statement from the government said that Australia will become one of the founding members of Chinese-led Asian Infrastructure Investment Bank and also the sixth largest shareholder of the Asian regional bank.

New Study Suggests Banking Industry Culture Breeds Dishonesty among the Employees

New Study Suggests Banking Industry Culture Breeds Dishonesty among the EmployeesA new study shows that the bank employees are prone to display dishonesty as it comes to the matter of discussing their jobs. Thus it can be said that the culture in the banking industry "seems to make [employees] more dishonest."

BofA Reaches Its Goal of “Project New BAC”, Nine Months before Schedule

BofA Reaches Its Goal of “Project New BAC”, Nine Months before ScheduleOn Wednesday, Bank of America (BofA) said that the bank has managed to gain a very small amount of profit in the third-quarter as it had to spend billions on legal costs. However the executives flaunted progress in the aimed cost cutting programme.

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