Finance

BNF Bank announced a robust financial performance for the year 2023, recording a profit before tax of €13.0 million – a 6.75% increase over 2022. Higher profitability in 2023 was primarily due to increased net interest income of €32.5 million (2022: €25.8 million). In addition to net interest income, net fees and commission income and other ancillary income contributed to a net operating income for 2023 of €36.2 million (2022: €30.1 million). The Bank’s cost-to-income ratio reflects the technology investment the Bank is undergoing, which will be in the Bank’s long-term financial interest. The cost-to-income ratio stood at 65.1% for…

By Simon Camilleri, CEO at Saxo UK As competition intensifies in pricing, financial institutions and investment platforms must prioritise complete transparency to provide investors with a clear understanding of costs, enabling them to make well-informed decisions. Historically, the financial industry faced criticism for its lack of transparency, leaving investors unaware of hidden fees, costs, and potential conflicts of interest. However, with technological advancements and growing market competition, there needs to be a concerted shift towards greater openness.

India’s diplomatic and economic landscape is undergoing a transformative shift, marked by its recent development in a ground-breaking free-trade agreement (FTA) with the European Free Trade Association (EFTA). This consortium, distinct from the European Union, includes Norway, Switzerland, Iceland, and Liechtenstein—a quartet of economic prowess. In an era where globalization and international collaboration are the linchpins of economic development, this FTA stands out as a beacon of progress. The pact is poised to inject an astounding $100 billion into India’s economy, heralded by the country’s Trade Minister as a monumental stride towards economic revitalization and job creation. With general elections…