Bank stocks might slide more

With increasing digitalization, #cybersecurity threats are a growing concern for the banking sector. #cybersecurity attacks can result in reputational damage, financial losses, and legal liabilities. Secondly, the banking sector is highly competitive, and banks may face challenges from new entrants such as fintech companies and other non-bank financial institutions.


All it seems, risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress. International Monetary Fund chief Kristalina Georgieva reiterated her view that 2023 would be another challenging year, with global growth slowing to below 3% due to scarring from the pandemic, the war in Ukraine and monetary tightening.


The change in the Regulatory has impacted the profitability and operational efficiency of banks. For example, increased regulation may lead to higher compliance costs and lower profitability, which has witnessed the collapse of US-based Silicon Valley Bank. A week on, a second US regional bank — Signature Bank — has been shut down, a third — First Republic Bank — has been propped up, Credit Suisse — has been averted after it was taken over by UBS. Recent stress in the banking sector and the possibility of a follow-on credit crunch brings the US closer to recession

Today's Headline in NewsHours
0:00 Intro
2:30 Govt approves setting up of Electronics Manufacturing Cluster in Karnataka
3:05 Silicon Valley Bank acquires First Citizens Bank
3:32 Parts of Twitter’s source code leaked online
4:03 #Paytm wins regulator extension for payment aggregator licence application
4:37 #Bharti backed OneWeb launches 36 satellites with ISRO & NSIL

Follow Us On :-

Website:https://varindia.com/

https://www.facebook.com/VARINDIAMagazine/

https://twitter.com/varindiamag

https://www.instagram.com/varindia/

htt

#PunjabNationalBank  #rbi  #ICICIBank  #statebankofindia  #HDFC  #BhartiAirtel  #ElonMusk  #RelianceIndustries  #bankofbaroda  #RajeevChandrasekhar  #AxisBank  #hdfcbank  #TataConsultancyServices  #cybersecurity  #IndusIndBank  #BANDHANBANK  #CreditSuisse  #Varindia  #cyberattacks  #HindustanUnileverLimited  #siliconvalleybank  #varindianewshour  #SignatureBank  #financiallosses  #FirstRepublicBank  #Amongstocks  #ElectronicsManufacturingCluster  #PaytmPaymentsServices  

Technology