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Chinese Banks Expect to Start Recovering in 2021 with a 4.5% Profit Rise

Chinese banks expect to initiate a recovery in 2021 following their first decline in a decade in 2020. According to the research data analysed and published by ComprarAcciones.com, profits in the country’s banking sector as a whole fell by 1.8% last year based on preliminary statistics. It is estimated to increase by 4.5% in 2021, 6.5% in 2022 and 6.8% in 2023. On the other hand, based on data from S&P Global, the global banking...

techcrunch

Big banks rush to back Greenwood, Killer Mike’s Atlanta-based digital bank for underrepresented customers

Before even taking its first deposit, Greenwood, the digital banking service targeting Black and Latino individuals and business owners, has raised $40 million — only a few months after its launch. Coming in to finance the new challenger bank are six of the seven largest U.S. Banks and the payment technology developers Mastercard and Visa. That’s right, Bank of America, PNC, JPMorgan Chase, Wells Fargo, and Truist, are backing a...