BofA payments app for businesses handled record $500 billion by mid-year

Bank of America’s corporate clients approved a record $500 billion in payments through its CashPro app by mid-year, up almost 40% versus the same period in 2023, the company said in a statement on Thursday.

Italy’s Banca Generali on Thursday hiked its full year forecast for inflows and net interest income, while also lifting the minimum threshold for dividend payments over the 2022-2025 period.

New York Community Bancorp reported second-quarter loss that was worse than Wall Street’s expectations on Thursday, as it set aside bigger provisions due to pressures in its multi-family loan book.

Barclays is winning business from its top Wall Street rivals in prime brokerage, a lucrative investment banking battleground where lenders are battling to serve hedge funds in an array of increasingly complex trades.

Nasdaq beat estimates for second-quarter profit on Thursday, driven mainly by strong demand for its products that help traders navigate compliance requirements and safeguard against financial crimes, sending its shares up about 4% in early trading.

Insurance broker WTW posted a 20% rise in its second-quarter profit on Thursday, helped by a strong performance in its risk and brokerage business.

Lazard swung to a profit in the second quarter, exceeding analysts’ expectations as dealmaking surged.

India’s PNB Housing Finance reported a near 25% rise in first-quarter profit on Thursday, helped by a steady demand for home loans.

Four high street banks, HSBC, Lloyds, TSB and Allied Irish Bank (AIB), broke Britain’s competition rules, the Competition and Markets Authority said in a statement on Thursday.

Global insured losses from last week’s massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday.

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