A growing number of investors in Bank of America want broad changes to the company's board as shareholders prepare for a 22 September vote on whether Brian Moynihan can continue to hold the combined roles of chairman and chief executive.
The Wall Street Journal reports that a number of significant shareholders are looking for changes to the bank's board beyond the contentious issue of whether Mr Moynihan should be allowed to continue in the dual role.
As India's non-performing loans continue to undermine the performance of state-owned banks, State Bank of India (SBI) has introduced a one-time settlement (OTS) scheme that provides a full waiver of interest and a rebate on 10 to 30 percent of outstandings depending on the merit of the case.
Borrowers seeking to take advantage of the scheme must apply by 31 October.
Meanwhile, a number of firms are said to have been sounded out by SBI as potential replacements for GE Capital, which is due to exit SBI Cards, its credit cards joint venture with SBI.
SBI has authorised Morgan Stanley to find a replacement for GE Capital with the formal process scheduled to start by the end of September.
The number of Nigerians who have signed up for a Bank Verification Number (BVN) has risen to over 20 million as the 31 October deadline approaches, according to the Nigeria Inter Bank Settlement System.
In the Philippines, Smart Communications has partnered with BDO Unibank to offer Pay-With-Mobile, a cardless initiative that allows users to shop for Apple products on the App Store and iTunes.
Smart Pay-With-Mobile is activated by a one-time, text-based registration, after which subscribers receive a unique Virtual Credit Card number.
A weekend meeting of Deutsche Bank's 19-member supervisory board considered sweeping changes to the bank, including the possibility of scaling back or closing operations in some countries and overhauling the bank's executive ranks, according to the Wall Street Journal.
The bank's new chief executive, John Cryan, and senior executives are to deliver a strategy update by the end of October, and it is believed that the outcome of the weekend talks will inform the update.
In Australia, Commonwealth Bank has completed its A$5.1 billion dollar capital raising programme despite revealing last week that many household investors had snubbed it. The bank's chief financial officer, David Craig, said this morning that shareholders provided "deep support" for the cash call despite recent market volatility.
In the UK, challenger banks have urged the competition authority to have a "major rethink" about the domination of Lloyds and RBS as part of its probe into the country's current account and small business banking markets. The smaller banks are concerned that the investigation will go easy on the big banks and make no significant difference to the industry.
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