A lack of consensus on whether recent under-performance of Asian currencies will impact China’s willingness to let its own currency weaken is leading to disparate views on near-term valuations.

Recently rebranded and expanded, Wealth at Work is Citi’s most dynamic generator of wealth revenues. Its leader, Naz Vahid, sits down in New York with Euromoney to explain her vision for its future.

As banks focus more on climate adaptation across their businesses, are they conceding that mitigation efforts are futile?

The body responsible for settling about $6.5 trillion of global daily FX trades has decided against extending its deadlines to accommodate non-US participants who still want to use its next-day settlement service. But it expects the impact to be limited – far too limited to justify the complexity that a change would impose on its members.

The two European banks are both trying to de-emphasise their investment banks and want to build up areas where they see weakness. Barclays is later to this party than Deutsche, but both will have found encouragement in the first three months of 2024.

Direct lenders to risky borrowers take comfort from their seniority in the creditor hierarchy. But stressed borrowers could jeopardise this as they struggle to attract new funding.

The Brazilian neobank is growing its number of clients faster than perhaps any financial institution on earth. Combine this with static unit costs and the operational leverage potential is big. CFO Guilherme Lago explains how its business model is now focused on the next five to 10 years as open banking generates unprecedented price transparency, customer portability and opportunity.

A private credit market growing so fast, away from the oversight of bank regulators, may be a new source of systemic risk. With smaller investors taking greater exposure to an asset class whose high returns and low losses look almost too good to be true, there could be trouble ahead.

Junior bankers should relax about the threat to their jobs from AI and lean into opportunities to bluff their way to Wall Street glory.

Quarterly survey reveals that UK finance professionals may be feeling more upbeat about prospects, but that this is yet to translate into a willingness to take greater risk onto balance sheets.

A move back up in rates is creating a PR battle among Wall Street banks. JPMorgan was punished for a cautious outlook, Goldman Sachs promoted strong fixed income trading results and Bank of America projected a Zen approach to rate moves.

UK fintechs attracted more investment than all European rivals combined in a tough funding market last year, but a broken IPO market leaves them with nowhere to go.

China’s Project Whitelist, launched at the start of the year, exists to ensure bank funding for property development. But it is there to protect projects, not the developers behind them.

Rumours that FAB is in exploratory talks with a Turkish lender, together with hopes for a big-ticket IPO, point to optimism despite the dire outlook on inflation.

Previous changes of policy direction have left analysts undecided on whether to attribute recent sharp corrections to the renminbi reference rate to accident or design – or even a combination of the two.

The EU’s Instant Payments Regulation may have fired the starting gun on real-time payments in Europe, but many banks remain stuck in the blocks.

Does Banco Galicia’s acquisition of HSBC Argentina validate president Javier Milei or weaken him?

The Singapore lender is looking to India in search of new business and growth opportunities, its chief executive Piyush Gupta tells Euromoney. Long term, it aims to emulate onshore the country’s best private-sector lenders, HDFC and Kotak Mahindra.

Isbank’s chief executive Hakan Aran sees embedded finance and an innovative approach to bank branches as the future as the Turkish bank looks to rebuild on a better market environment for its 100-year anniversary.

The Korean banking sector faces many obstacles, but a single, powerful catalyst is driving change.

From fast fashion to electric vehicles, Chinese firms are grabbing customers and market share. Meanwhile, the nation’s banks are stuck at home, propping up troubled developers and local governments. It’s an anomalous situation that will benefit the foreign banks.

The good news is that bank executives don’t see big loan losses ahead; the bad news is that they lack the confidence and vision to invest in the business.

XP has succeeded in Brazil by using its technological efficiencies to win on digital experience and price. But now the incumbents are catching up and XP chief executive Thiago Maffra is focusing on developing service beyond pure online delivery.

The Greek bailout fund’s exit from Piraeus Bank last month was the country’s biggest post-crisis privatization. The bank’s chief executive, Christos Megalou, tells Euromoney that this is more than a capital-return story. It’s also about growth: in the economy, in wealth and asset management, and, thanks to neobank Snappi, internationally.

President Javier Milei campaigned on cuts – and that is what he has delivered. But like all extreme diets, the approach is unsustainable. Time to rethink the plan.

After a decade of restructuring, EFG International ramped up hiring last year – above all from Credit Suisse. Chief executive Giorgio Pradelli talks about the firm’s scope to lead a wave of Swiss-bank consolidation, while doubling down on new wealth from the Middle East and Asia.

The paradox of Itaú is that it has maintained its leadership of Brazil’s banking sector with an ease and assuredness in recent years that belies the radical and continual transformation going on under the surface. The bank’s CFO, Alexsandro Broedel, tells Euromoney that its management’s only real constant is to view every new player as an existential threat – and react accordingly.

There almost certainly won’t be a Truss/Kwarteng-style meltdown in the US Treasury market – just persistent inflation, high rates, volatility and likely some form of monetary financing.

BDO Private Bank wins the award as the Philippines’ best domestic private bank for the quality and range of expertise and services it provides to high net-worth individuals, families and entrepreneurs.

Credit Suisse’s domestic bank was arguably the failed group’s best and strongest division. One year after the rescue, UBS is not the only one trying to feast on its domestic wealth-management and corporate-banking leftovers. Other Swiss and international players also hope to benefit from the longer-term fallout in Switzerland. Will the rush to pick up the remnants of the fallen champion pay off?