Latest Commercial banking News

CIT Group pushes into loose network of home owner groups

Aug. 13, 2019 12:33 PM EDT

OMAHA, Neb. (AP) — CIT Group is buying Mutual of Omaha Bank for $1 billion to expand its commercial banking operations. The deal would mean the end to the Mutual of Omaha's foray into the banking sector, which began in 2007. About $4.5 billion of Mutual of Omaha's $6.8 billion in deposits come from...

India's central bank cuts lending rate to 5.40%

Aug. 7, 2019 5:17 AM EDT

NEW DELHI (AP) — India's central bank on Wednesday cut its key interest rate for the fourth consecutive time, reducing the repo rate by 0.35% to 5.40% to shore up the economy, with consumer spending and corporate investment faltering and the production of capital goods and consumer durables decelerating....

HSBC says its CEO to leave after just 18 months

Aug. 5, 2019 8:19 AM EDT

LONDON (AP) — Bank HSBC on Monday announced the surprise departure of CEO John Flint after just 18 months, saying new leadership was needed amid increasing economic uncertainty, and that it was cutting some 4,000 jobs to reduce costs. London-based HSBC Holdings said Flint stepped down by mutual agreement....