I Bytes Banking Industry

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I-Bytes
Banking
February Edition 2021
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates.................................................................................................................................................19
3. Rewards and Recognition Updates...................................................................................................................44
4. Customer Success Updates................................................................................................................................70
5. Partnership Ecosystem Updates........................................................................................................................71
6. Environment & Social Updates.........................................................................................................................98
7. Miscellaneous Updates.....................................................................................................................................113

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Financial, M & A
Updates Banking Industry

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Customer Success

Financial, M&A Updates
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Arab Bank (UAE) Group Reports Net Profits Of $195.3 Million For
2020 12% Cash Dividends
• Arab Bank Group closed 2020 reporting net income after tax of $195.3 million as compared to
$846.5 million in 2019, recording a drop of 77%. Group equity grew to reach $9.4 billion.The Board
of Directors has recommended to the shareholders the distribution of 12% cash dividends for the
financial year 2020.
• The year 2020 was challenging for the global and regional banking sectors due to economic
contraction, higher cost of risk, and lower interest rates in addition to the plunge in oil prices since the
outbreak of the pandemic. The Bank entered the crisis from a position of strength, with stable credit
quality coupled with sound liquidity and capital ratios.
• The drop in profits is attributable to the buildup of higher provisions, driven by the deterioration
of the macro-economic environment regionally and globally, and to lower revenues from interest and
fee income due to the Covid-19 pandemic and to lower market interest rates and weakening oil prices.
• Group net operating income is at $ 1,007 million, 25% lower than the prior period as a result of
a decrease in net interest and commission income, and the drop in the contribution of the bank’s
associates in the Gulf.Customer deposits grew by 7% to reach $ 38.7 billion as compared to $ 36.2
billion, while loans grew by 1% to reach $26.5 billion as compared $ 26.1 billion.
• The Group maintained its strong and robust capital base with equity of $9.4 billion and a capital
adequacy ratio of 16.8% calculated in accordance with Basel III regulations. The Group enjoys high
liquidity with a loan-to-deposit ratio of 68.4%, while credit provisions held against non-performing
loans continue to exceed 100%.
Executive Commentary
Chairman of the Board of Directors remarked that “the Covid-19 pandemic has had a material
impact on businesses around the world and the economic environments in which they operate. In
an effort on safeguard their economies, governments and regulatory authorities launched various
programs to mitigate the impact of the crisis. He added that the bank dealt with these challenges
while maintaining its strong liquidity and capital positions.”
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Santander strengthens (Spain) Getnet, its merchant payment business, with
the closing of the Wirecard assets acquisition
Banco Santander announced the completion of the acquisition of several highly specialised technological assets from the merchant payments business of
Wirecard in Europe. This transaction was announced in November 2020 and is part of Santander's strategy to reinforce and accelerate its growth plans in the
merchant payments business, Getnet, for the region. Getnet is a part of PagoNxt, a new autonomous business created by Banco Santander to bring its most
disruptive payments businesses together to compete with global digital payments platforms. With these assets, Santander will expand its merchant payments
business at a pan-European level and will be able to offer a more complete and better value proposition to more companies and multinationals leveraging the
Getnet global franchise across Europe and the Americas. Almost all 500 employees who were managing the acquired assets, in highly qualified teams, have
already joint Getnet. They will remain in their current locations.The acquisition will accelerate Getnet’s expansion across Europe, bringing enhanced capabilities
in e-commerce and multinational merchant servicing as well as other payment services. The assets Santander has acquired extend its global open payments
platform architecture, while creating synergies between trade and payments as well. Santander is taking its merchant platform to other countries, as it has already
done in Latin America. The acquired assets include payment solutions for merchants, and acquiring and issuance services.Santander announced plans to bring
together its most disruptive payments businesses, including Getnet, within PagoNxt, which will focus on accelerating growth in three business areas: merchant
solutions; trade solutions for SMEs which operate internationally and want services once only accessible to larger corporates; and consumer digital products and
services, such as Superdigital, the inclusive-finance proposition already available in five Latin American markets.
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BankUnited (USA), Inc. announced financial results for the quarter
• Net interest income increased by $5.9 million compared to the immediately preceding quarter ended September 30, 2020
and by $8.1 million compared to the quarter ended December 31, 2019. The net interest margin, calculated on a tax-equivalent
basis, was 2.33% for the quarter ended December 31, 2020 compared to 2.32% for the immediately preceding quarter.
• The average cost of total deposits continued to decline, dropping by 0.14% to 0.43% for the quarter ended December 31,
2020 compared to 0.57% for the quarter ended September 30, 2020. The average cost of total deposits was 1.48% for the
quarter ended December 31, 2019.
• For the quarter ended December 31, 2020, the Company recorded a net recovery of credit losses of $1.6 million compared
to a provision for credit losses of $29.2 million for the immediately preceding quarter ended September 30, 2020.
• Pre-tax, pre-provision net revenue ("PPNR") was $105.3 million for the quarter ended December 31, 2020 compared to
$104.1 million for the quarter ended December 31, 2019 and $115.1 million for the immediately preceding quarter ended
September 30, 2020.
• Average non-interest bearing demand deposits grew by $966 million for the quarter ended December 31, 2020 compared
to the immediately preceding quarter and by $2.9 billion compared to the quarter ended December 31, 2019. At December 31,
2020, non-interest bearing demand deposits represented 25% of total deposits, compared to 18% of total deposits at December
31, 2019.
• Loans on deferral totaled $207 million or less than 1% of total loans at December 31, 2020. Loans modified under the
CARES Act totaled $587 million at December 31, 2020. In the aggregate, this represents $794 million or 3% of the total loan
portfolio at December 31, 2020, down from $3.6 billion or 15% of total loans that were granted an initial 90 day deferral as
reported at the end of the second quarter
• Book value per common share and tangible book value per common share at December 31, 2020 increased to $32.05 and
$31.22, respectively, from $31.01 and $30.17, respectively at September 30, 2020 and $31.33 and $30.52, respectively at
December 31, 2019.
• On January 20, 2021, the Company’s Board of Directors reinstated the share repurchase program that the Company
suspended on March 16, 2020. Authorization to repurchase up to approximately $44.9 million in shares of its outstanding
common stock remains under the share repurchase program.
“Overall, this was an excellent quarter. We saw improvement in the economic outlook leading to a reduction in credit
costs and continued to execute on our core strategy of improving the deposit mix, lowering the cost of funds and growing
net interest income," said Chairman, President and Chief Executive Officer.
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BBVA (Peru) completes the sale of its subsidiary in Paraguay
The total amount of the sale amounts to approximately 250 million dollars (about 210 million euros). The operation will
generate a capital loss net of taxes of about 9 million euros¹ due to the benefits that BBVA has been earning from the
subsidiary in this period, and a positive impact on the fully-loaded CET1 capital ratio of around six points basic². These
impacts will be reflected in BBVA's financial statements in the first quarter of 2021. The operation that is completed was
announced in August 2019. BBVA Paraguay has total assets of approximately 1,920 million dollars (about 1,640 million
euros), with data at the end of the third quarter of 2020. BBVA's business in Paraguay occupies the fourth position in the local
market, both by volume of loans, with a 8.7% installment, and for deposits, with 9.5%.Once the two financial entities are
integrated, Banco GNB Paraguay SA will become the first in terms of deposits in Paraguay, with total assets of 3,270 million
dollars (about 2,784 million euros), and a share of 16%, with data from end of september. BBVA maintains its commitment
to Latin America and will continue to invest in the region, which continues to be a strategic area for the Group's growth.
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Caixabank (Spain) Zone2boost reaches an investment commitment of
800,000 euros with eight "start-ups" in its first year in operation
The international innovation initiative Zone2boost has ended its first year of operation with more than 300 start-ups evaluated, 8 start-ups incorporated
into its acceleration program and a committed investment volume of 800,000 euros. The program has started its activity in a year marked by the
Covid-19 pandemic, but, despite this situation, it has met its annual forecasts. Zone2boost is open to studying projects from all over the world,
although, during 2020, it has focused on the entrepreneurial ecosystem of Barcelona. The start-up Deliverea, which provides businesses with a tool to
manage logistics and offers a solution with which to manage shipments, returns and package tracking, is one of the companies selected by the program.
Another of the companies that Zone2boost has started working with is Pro p pos, which, thanks to artificial intelligence, is able to recognize any type
of product in the store, without the need to scan it, while offering a shopping experience really fast. Nemuru, a financing platform that connects
companies, banks and consumers, is another of the start-upsselected in 2020. Zone2boost has also invested and is collaborating with Bitphy, which is
an intelligent platform for retail that detects points of improvement in the sales channel and offers profitable insights automatically.In addition to these
four companies, inAtlas( big data and analytical localization company), Fuell (software technology company that facilitates expense management and
flexible remuneration for companies), Payflow (application that provides employees with instant access to salary ) and Deeder (which, thanks to
blockchain technology, allows signing contracts through messaging applications) have also been selected by the international innovation program.
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CBA finances (Australia) NSW Solar Farm to help power 240,000 Homes
Commonwealth Bank Group is one of three banks partnering to provide construction
financing of $212 million to UPCAC Renewables Australia for a new solar farm to
be built in northern central New South Wales. Stage 1 of the New England Solar
Farm, a utility scale solar farm, is under construction in Uralla, near Armidale. This
first stage will add an expected 400MWac of electricity capacity to the National
Electricity Market upon completion - enough to power an estimated 240,000 typical
NSW households each year. Further stages are planned to expand the solar farm’s
capacity to 720MWac. Development plans include a 400MWh lithium-ion battery
that will be co-located at the solar farm. The battery will assist with electricity grid
stability and help deliver energy during peak periods, reducing electricity prices for
consumers.Commonwealth Bank will provide UPCAC Renewables Australia with a
third of the funding for the first stage of construction via a five-year syndicated debt
facility which Commonwealth Bank co-led with Westpac and Bank of China.
Commonwealth Bank will also support the New England Solar Farm through a Bank
Guarantee, Interest Rate Hedging, Account Bank and Agency and Security Trustee
solutions.
Chief Executive of UPCAC Renewables Australia, said: “It’s exciting to achieve
financial close on a merchant basis for such a large project, which is the first of
many such projects we have in Australia. UPCAC Renewables Australia views
this project fitting into the NSW Government RoadMap and look forward to
being engaged in this process to help lower electricity prices in NSW.
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CBA(Australia) x15ventures marks one year with acquisition of Doshii
x15ventures, Commonwealth Bank’s venture scaling business, announced the
addition of a fifth business to its stable. Doshii, a modern cloud platform and
marketplace, brings together venues, point of sale (POS) and apps in the one
place for small and large hospitality venues and outlets. Managing anything
from reservations and online delivery services, to customer loyalty programs
and modern-day payments, Doshii curates these apps into a single marketplace
and makes them easy to connect to the venue’s POS – reducing errors, costs
and delays for the business and opening up new possibilities for more
customers and more orders.CBA’s 2021 technology update at the bank’s new
tech hub at South Eveleigh, x15ventures Managing Director Toby
Norton-Smith, said: “When we launched x15 last year, our mission was to
bring new solutions to market that empower customers as never before, and
Doshii is an exciting business proposition built with leading technology and a
growing ecosystem of apps and merchants on the platform.
“Doshii is our first ‘platform’ business, and to make it successful we want
to bring the best of CBA’s backing and scale to grow it, while allowing the
business to remain independent and continue to innovate and grow the
ecosystem of services on the platform,” he said.
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Emirates NBD (UAE) Announces Full Year 2020 Results
• Total income of AED 23.2 billion improved 4% y-o-y on loan growth, including
DenizBank
• Net profit of AED 7 billion declined 52% y-o-y on higher provisions and gain from sale
of Network International shares not repeated in 2020. Excluding the Network International
gain in 2019, net profit was down 31% y-o-y
• Impairment allowances increased to AED 7.9 billion reflecting weaker credit
environment impact of Covid-19 with net cost of risk at 163 bps
• Net interest margin declined 24 bps y-o-y to 2.65% following cuts in base interest rates
in the first half of 2020
• Total assets at AED 698 billion, up 2% from 2019
• Customer loans at AED 444 billion, up 1% from 2019
• Customer deposits at AED 464 billion, down 2% from 2019
• Non-performing loan ratio increased 0.6% to 6.2% in 2020 and coverage ratio remained
strong at 117.3%
• Liquidity coverage ratio of 165% and advances to deposit ratio of 95.6% demonstrate a
healthy liquidity position
• Common equity tier 1 ratio of 15.0%
Chairman, Emirates NBD said: “Emirates NBD delivered a net profit of AED 7 billion
in 2020 despite the global pandemic that caused major disruption to individuals,
communities and businesses. The swift and decisive action of the UAE’s wise leadership
in protecting the health of residents with clear and measured guidelines allowed the
UAE economy to successfully reopen in the second half of the year. The Central Bank
of the UAE’s Targeted Economic Support Scheme has been instrumental in helping
customers and banks through these challenging times. I am proud that Emirates NBD
played its part in supporting customers and the economy by providing financial
assistance as well as actively participating in community initiatives. We continue to
support the economy of the UAE as it proudly celebrates its golden jubilee in 2021 and
we are excited to play an important role in the UAE’s further development over the next
fifty years. As the official banking partner of Expo 2020 Dubai, we look forward to
helping showcase the UAE’s innovative, tolerant and proud culture as we welcome the
world to the UAE. In light of the Bank’s performance, we are proposing a cash dividend
at 40 fils per share.”
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"The Age of Magic Money": Emirates NBD (UAE) announces investment outlook
for 2021
Emirates NBD, one of the leading banking groups in the (MENAT) Middle East, North
Africa and Turkey region, has released its global investment outlook for 2021. Themed, “The
Age of Magic Money”, the 2021 outlook was revealed to media by Chief Investment Officer,
Emirates NBD Group. Speaking at the media briefing, Gravier explained his investment
strategy against the backdrop of the unprecedented events of 2020 and their impact on
financial markets. The CIO and his team remain confident in imminent economic recovery
boosted by widespread distribution of the vaccines and governments’ fiscal stimulus amidst
a low interest rate regime supporting elevated valuations. The CIO also discussed the recent
launch of the bank’s multi-asset funds, run from Dubai: Emirates Signature Cautious Fund,
Emirates Signature Moderate Fund and Emirates Signature Aggressive Fund, available in
AED, EUR and (US dollars). Proudly run from Dubai and domiciled in Luxembourg, the
funds offer a direct and constant implementation of Emirates NBD views, with a low
minimum investment of USD 1,000 and daily liquidity. The annual Emirates NBD CIO
Outlook is an advisory blueprint covering investment opportunities and key global economic
indicators and in-depth financial market insights, based on which Emirates NBD’s team of
advisors, strategists and analysts make recommendations on financial transactions and
investments to the bank’s qualified clients.
Said Chief Investment Officer: “On a tactical i.e., short to medium term horizon, the
backdrop is reasonably positive. 2021 should be about clipping coupons in fixed income
and finding capital appreciation in stocks with strong earnings growth. On a strategic i.e.,
the long-term horizon however, the investment landscape has changed. We are entering
the age of magic money - of low returns and some new risks, should it be inflation or just
mountains of debt. Our response is to reshuffle our strategic asset allocation with more
emerging markets than ever. They grow faster; with secular drivers supporting them well
above the post pandemic rebound they are cheaper, and less crowded.”
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First Citizens (USA) BancShares Reports Earnings for Fourth Quarter
and Full Year 2020
• Net income for the fourth quarter of 2020 was $138.1 million, an increase of $36.2 million, or 35.5%, compared to the same quarter in 2019. Net income per common share increased to $13.59 for the
fourth quarter of 2020, from $9.55 per share during the same quarter in 2019.
• Return on average assets for the fourth quarter of 2020 was 1.11%, up from 1.05% during the same quarter in 2019. Return on average equity for the fourth quarter of 2020 was 14.02%, up from
11.32% during the same period of 2019.
• BancShares reported total net interest income of $358.7 million for the fourth quarter of 2020, an increase of $31.6 million, or 9.7%, compared to the same quarter in 2019. The taxable-equivalent net
interest margin ("NIM") was 3.02% for the fourth quarter of 2020, down 57 basis points from 3.59% during the same quarter in 2019 and down 4 basis points from 3.06% during the third quarter of 2020.
• The provision for credit losses was $5.4 million during the fourth quarter of 2020, compared to $7.7 million during the fourth quarter of 2019. The allowance for credit losses ("ACL") was $224.3
million at December 31, 2020, compared to $225.1 million at December 31, 2019, representing 0.68% and 0.78% of loans, respectively.
• Noninterest income totaled $126.8 million for the fourth quarter of 2020, an increase of $22.4 million, or 21.4%, compared to the same quarter of 2019. Noninterest expense was $305.4 million for the
fourth quarter of 2020, an increase of $13.1 million, or 4.5%, compared to the same quarter of 2019.
• Total loans grew to $32.79 billion, an increase of $3.91 billion, or by 13.5%, since December 31, 2019. Excluding $2.41 billion of loans originated under the Small Business Administration Paycheck
Protection Program ("SBA-PPP") and loans from acquisitions, total loans increased $1.40 billion since December 31, 2019, or by 4.9%. The net charge-off ratio was 0.06% and 0.07% for the three- and
twelve-month periods ended December 31, 2020, respectively, compared to 0.14% and 0.11% for the three and twelve months ended December 31, 2019, respectively.
• Total deposits grew to $43.43 billion, an increase of $9.00 billion, or by 26.1%, since December 31, 2019. Excluding estimated SBA-PPP deposits, which totaled $0.93 billion, and deposits from
acquisitions, total deposits increased $7.87 billion since December 31, 2019, or by 22.9%.
• BancShares remained well capitalized with a total risk-based capital ratio of 13.8%, a Tier 1 risk-based capital ratio of 11.6%, a common equity Tier 1 ratio of 10.6% and a Tier 1 leverage ratio of
7.9%.
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First Citizens (USA), CIT Receive Stockholder Approval for Merger
First Citizens BancShares, Inc. the parent company of First-Citizens
Bank & Trust Company, and CIT Group Inc. the parent company of
CIT Bank, N.A., jointly announced that, at their respective special
meetings of stockholders held, First Citizens and CIT received the
stockholder approvals for the merger of the companies. Both
companies are preparing for anticipated completion of the
transaction in the second quarter of 2021, subject to satisfaction of
customary closing conditions, including receipt of regulatory
approvals. The combined company will create the 20th largest bank
in the United States based on assets.
"Today marks an important milestone as we move closer to
uniting our two companies," said First Citizens Chairman and
Chief Executive Officer. "The combination of our companies
will leverage our unique attributes, and we are excited about the
opportunities it will provide for all of our constituents, including
our stockholders, our customers, our associates and our
communities."
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KBC (Belgium) to acquire NN’s Bulgarian pension insurance and life insurance
businesses
KBC Group and the Netherlands-based NN Group reached agreement for KBC’s Bulgarian
subsidiary, DZI – Life Insurance EAD, to acquire: all the shares of NN Pension Insurance
Company EAD (Bulgaria), all the assets and liabilities of NN Insurance Co. Ltd. – Sofia Branch
(Bulgaria). The deal has a total consideration of 77.7 million euros and will only have an
immaterial impact on KBC’s solid capital position. Upon closure, KBC Insurance’s Solvency II
ratio – which stood at an excellent 222% at the end of 2020 - will be reduced by approximately 6
percentage points, but remain well above regulatory requirements, while KBC Group’s CET1
ratio will be maintained at an outstanding level. The acquisition of NN Pension Insurance
Company EAD (‘NN PIC’) allows KBC’s Bulgarian franchise - in the shape of UBB and DZI -
to broaden its extensive bank-insurance offering to customers with the addition of high-end
pension fund products, while also providing additional cross-selling opportunities for banking
and non-life insurance products in a one-stop shop approach. The acquisition of NN Insurance
Co. Ltd - Sofia Branch (‘NN Life’) will allow DZI - KBC’s Bulgarian insurance franchise - to
further increase its share of the life insurance market in Bulgaria through a range of traditional
life insurance and unit linked insurance products, thus reaffirming its leading position. It will also
strengthen DZI’s distribution power thanks to NN Life’s network of 300 tied insurance agents in
Bulgaria’s main cities. NN Bulgaria has developed its pension and life insurance business since
entering the market in 2001.
KBC Group CEO commented as follows on the deal: “I am delighted with this acquisition in
Bulgaria. We’ve become a strong player in this core market, distinguishing ourselves in our
banking, insurance, asset management and leasing lines of business. Since our Group’s entry
in Bulgaria in 2007 our commitment to the Bulgarian market has been firmly stated many
times. we are taking a next step and adding pension insurance to our already wide-spread
presence in Bulgaria. This means that we will be in a position to offer all types of high-end
integrated bank-insurance products to our Bulgarian customers. We’re extremely happy to
acquire a high-quality concern with an excellent reputation and management team, and we
are looking forward to developing it in a responsible manner with our other Bulgarian
entities, and so affirm our leading position on the Bulgarian financial market.”
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Cairn Capital to acquire Bybrook Capital, Mediobanca (Italy) retains its majority
stake
Cairn Capital Group Ltd supported by Mediobanca S.P.A. as its majority shareholder, have
agreed terms for a strategic partnership in which Cairn Capital will acquire and merge with
Bybrook Capital LLP (“Bybrook”), a specialist distressed credit manager based in London.
Bybrook, established in 2014, is focused on absolute value stressed distressed debt and
special situations in Europe and has established an outstanding track record since inception.
Bybrook currently manages approximately $2.5 billion on behalf of top tier international
institutional investors. Through this transaction, Mediobanca will reaffirm its majority
shareholder position with a stake of ca. 64% while the remaining 36% will be held by former
Bybrook shareholders and existing Cairn Capital minority shareholders. Cairn Capital and
Bybrook both enter into this partnership having delivered meaningful growth and strong
investment performance. The merger with Bybrook fulfils the ambition to create a leading
diversified alternative credit manager with approximately $8 billion in AUM across public,
private, performing and distressed investment opportunities. It brings together a top
performing leveraged loan and alternative credit franchise with an outstanding
stressed/distressed and special situations business. The Bybrook partners will keep their full
focus on managing their strategies while remaining significant investors in their funds
alongside investors. They also show their confidence in the future of Cairn Capital by
becoming meaningful minority shareholders.
CEO of Cairn Capital, said: “We are delighted at the prospect of merging with an
outstanding firm that has a proven track record of delivering differentiated and strong
absolute returns to institutional investors. We are confident that the combined
fundamental credit research capabilities and complementary skills will greatly enhance
the investment process and our ability to consistently deliver exceptional returns
throughout the cycle.”
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NAB (Australia) Announces Agreement to Acquire 86 400 To Accelerate Ubank
Growth
National Australia Bank Limited (NAB) has entered into a scheme
implementation agreement to acquire 100% of the shares in 86 400
Holdings Ltd, the holding company of Australian neobank, 86 400
(“86 400”). Founded by Cuscal Ltd and led by CEO 86 400 has built
and launched a mobile-led digital bank and was granted an ADI
licence in July 2019. As at January 2021, 86 400 had more than 85,000
customers, $375 million of deposits, $270 million in approved
residential mortgages and 2,500 accredited brokers. In April 2020,
NAB announced plans to prioritiseUBank to deliver a market-leading
digital experience and new product propositions to customers. The
acquisition of 86 400 will accelerate UBank’s growth by combining its
established customer base, brand and colleagues with 86 400’s
experience and technology platform.
“Bringing together UBank and 86 400 is consistent with NAB’s
long-term strategy and growth plans and will enable us to develop
a leading digital bank that can attract and retain customers at scale
and pace,” NAB Chief Operating Officer said.
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RBI (Austria) Acquires Akcenta, the Cee-Fx and Payment Transaction Provider
Raiffeisen Bank International AG (RBI) has signed an agreement to acquire the
Czech FX and payment transaction provider AKCENTA CZ as (Akcenta). The
proposed ownership structure provides that RBI will acquire 70 percent of
Akcenta and the remaining 30 percent will be taken over by the Czech RBI
subsidiary Raiffeisenbank as. The transaction is subject to regulatory approval
and is expected to be completed by the end of May. The acquisition supports
RBI's strategy of becoming a leading provider in the FX business in Central and
Eastern Europe (CEE). While around 75 percent of the region's FX market is
served by banks, the remaining 25 percent is covered by non-bank providers such
as Akcenta.
"Our goal is to expand our market share in both segments. The acquisition fits
perfectly into our strategy, both in terms of business expansion and digital
development, by using the experience of a successful disruptive market
participant," said Board member of RBI for Markets & Investment banking.
"Both Akcenta's local customers and our own customers can expect further
improvements in technology and convenience. Akcenta offers foreign
exchange, payment transactions and trading services for small and
medium-sized businesses in the Czech Republic, Slovakia, Hungary, Poland,
Romania and Germany. The company looks after around 43,000 customers,
more than 20,000 of them in the Czech Republic. At the end of 2020, Akcenta
had total assets of around € 93 million and this year handled a total of just
under € 7 billion in customer transactions. Akcenta will work closely with
RBI's existing FX and payments business, but will not be integrated into RBI.
"This approach enables us to leverage synergies while ensuring Akcenta's
flexibility and dynamic growth."
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RBI (Austria) Signs Agreement To Acquire The Czech Equa Bank
Raiffeisen Bank International AG (RBI) has signed a contract for the acquisition of 100 percent of the shares in Equa bank (Equa bank
as and Equa Sales and Distribution sro) from AnaCap Financial Partners (AnaCap) through its Czech subsidiary Raiffeisenbank as.
AnaCap is a private equity investor specializing in financial services. The transaction is subject to successful completion and regulatory
approvals. The acquisition of Equa bank is expected to reduce the CET1 ratio of RBI by approximately 30 basis points (based on a pro
forma CET1 consolidation at the end of 2020). The final impact depends on the closing balance at the time of closing. Equa bank focuses
on the consumer credit business and looks after almost 480,000 customers. The intended acquisition is part of RBI's strategy to expand
its presence in selected markets. The business models of Equa bank and Raiffeisenbank complement each other very well, which is why
the acquisition would ultimately lead to strategic synergies and an improved digital offering. The balance sheet total of Equa bank was
over EUR 2.8 billion at the end of 2020, while Raiffeisenbank as had total assets of EUR 15.7 billion. The conclusion is expected around
the middle of this year. If the transaction is successful, the plan is to merge Equa bank with Raiffeisenbank and thus leverage the
identified synergies.
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SEB (Sweden) Greentech makes its first investment in green chemical production
SEB formed a new unit within the bank that will invest venture capital in
green technology to contribute to a sustainable transition. SEB Greentech
VC is now making its first investment by participating in a financing round
by the Swedish company EnginZyme, which has developed a technology
for sustainable, biological chemical production. EnginZyme (the three
founders Robin Chatterjee, Karim EngelmarkCassimjee, and Samuel
Härgestam in the picture above) has developed a technology platform that
combines the natural ability of enzymes to create chemical reactions with
efficient chemical production. The company is now raising 11 million euros
in a financing round where SEB Greentech and Industrifonden is
participating along with existing owners. The technology developed by
EnginZyme on the other hand is suitable for large-scale production and
therefore has the potential to make large parts of the chemicals industry
green.
“Biological production using enzymes and cells is used to manufacture
various pharmaceuticals, oils, bread, beer, cheese, and so on, but has not
so far proved cost effective except for certain specific processes,” says
who started as head of SEB:s newly created unit SEB Greentech.
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Wells Fargo (USA) Invests in Six Black-Owned Banks
Wells Fargo announced equity investments in six African American Minority
Depository Institutions (MDIs) as part of its March 10, 2020, pledge to invest up to
$50 million in Black-owned banks. As part of the capital investment, the banks will
have access to a dedicated Wells Fargo relationship team that will provide financial,
technological, and product development expertise in order to help each institution
grow and benefit their local community. In the ongoing pandemic, communities of
color have been disproportionately impacted, and this investment is part of Wells
Fargo’s effort to generate a more inclusive recovery across the country.
announcement includes investments in the following institutions:
• Broadway Federal Bank*, in Los Angeles, California
• Carver Federal Savings Bank, in New York, New York
• Citizens Savings Bank & Trust, in Nashville, Tennessee
• Commonwealth National Bank, in Mobile, Alabama
• M&F Bank, in Durham, North Carolina
• Optus Bank, in Columbia, South Carolina
“These investments are designed to help the banks become stronger and more
impactful to the minority communities they serve, which leads to economic
revitalization and job opportunities,” said vice chairman of Public Affairs at
Wells Fargo. “So many communities have suffered over the past year. MDIs need
capital, but they can also benefit from access to other resources, and Wells Fargo
is committed to building lasting, strategic relationships with these institutions in
support of their goals.”
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Bank Muscat (Oman) signs agreements with a number of Higher Educational
Institutions to provide digital banking services
19
Solution Description
In line with its pioneering role in providing state-of-the-art banking services and solutions to the government and private sectors and to comply with the
mandate issued by the Central Bank of Oman in collaboration with the Ministry of Finance and Ministry of Labour for secure salary and bulk payments
processing, Bank Muscat has signed agreements with a number of higher educational institutions in the Sultanate. The agreements with the Sultan Qaboos
University, the University of Technology and Applied Sciences, College of Sharia Sciences and the College of Banking and Financial Studies will provide
them access to the bank’s digital banking services. This will allow these institutions to easily make and approve online transactions, thereby saving the time
and effort of their employees and increasing operational efficiencies. This move to digitalisation is in line with the goals of Oman Vision 2040 including the
building of a diversified, dynamic, globally interactive and competitive economy that meets the present and future needs of the locals, in which the private
sector has a prominent role. Digitalisation of banking services and solutions will help all sectors of the economy to be highly competitive and ensure
continued economic growth in the next phase of Oman’s Renaissance. A large number of agreements have been signed by the bank with organisations of all
sizes for provision of digital banking services. It is particularly important to note that from being just a theoretical case, innovation in digital banking is now
bringing practical efficiency in the processes, operations and workflow of institutions across Oman. Educational institutions now have complete visibility
and control of their transactions with payments and monthly payrolls being done easily through the Corporate Online Banking platform as per their needs.

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Bank of Ireland (Ireland) launches initiative to help customers reduce their
credit card debt
20
Bank of Ireland has launched a new initiative to help customers with long-term credit card debt by suggesting money-saving alternatives. Used wisely, credit
cards can be valuable short-term tools for handling emergencies or unplanned expenses and spreading out the cost of big-ticket items. For customers who
repay a minimum each month, however, it can take much longer to clear their credit card balance, and interest can quickly build up. By leveraging
behavioural science, an approach used by many global banks to identify financial wellbeing opportunities for customers, this new initiative aims to help
customers be smarter about how they use their cards. As part of its Financial Wellbeing programme, the Bank will be contacting over 10,000 of its credit card
customers to suggest alternatives such as paying more than the monthly minimum payments, making once-off payments where possible, or even switching
to a personal loan with a lower interest rate.Bank of Ireland’s Financial Wellbeing Programme aims to help customers improve their financial literacy,
capability and confidence. Since the launch of programme in 2019 over 250,000 people have accessed the financial wellbeing supports on the Bank’s online
financial wellbeing hub, over 100,000 people have taken the online financial health check, over 800 schools have participated in its financial literacy
initiatives, and a specialist unit has been established to support the financial wellbeing of vulnerable customers. Nine in ten credit card customers are aware
that it’s expensive to only pay off a small part of their monthly bill but most (80%) don’t know the interest rate on their card, according to Bank of Ireland
research. Over eight in ten (81%) are interested to hear about options that could help them manage their credit card debt better.

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Bank of Jinzhou (China) became the first regional bank in Northeast China
to issue "Unbounded Card" digital credit card products
23
Bank of Jinzhou officially issued the UnionPay "Unbounded Card" digital credit card. Our bank became the first regional bank in Northeast China and the second nationwide to issue purely virtual
"unbounded cards". The "Unbounded Card" digital credit card is a standard credit card product issued by our bank in cooperation with China UnionPay. With a new generation of digital experience
with full-process digital application and instant approval, it better meets the needs of the digital mobile payment era. It has the following characteristics:
• Digital virtual card: Jinzhou Bank Unbounded Credit Card is a pure digital virtual credit card without a physical card. After successfully opening the card, the customer can automatically bind the
cloud QuickPass APP without any operation. At the same time, the card can be freely bound to payment platforms such as WeChat Pay, allowing card customers to enjoy an efficient and fast payment
experience.
• Characteristic card surface: "Unbounded Card" online display card style combines the characteristics of traditional Chinese freehand drawing, showing the balance of Yin and Yang, the invisible
and unbounded characteristics of traditional Chinese culture, which perfectly fits the theme of "Unbounded Card".
• Instant Instant Batch: "Unbounded Card" adopts the strategy of Instant Instant Batch. After a customer submits an application through the online application channel, our bank uses big data analysis
to profile the customer, and uses the CDA score to review the application customer, and achieve instant approval of credit cards for high-quality customers. After the approval is passed, customers can
log in to the WeChat official account of "Jinzhou Bank 7777 Credit Card" to self-check the card number, validity period and security code.
• Rich: rights and interests: In terms of rights and interests, the "Unbounded Card" distributes points gifts, standard-reaching gifts, airport VIP lounge rights, and supermarket digital gift certificates.
Let every Jinzhou Bank cardholder enjoy credit life and the charm of intimate financial services.
The "Unbounded Card" product issued this time is a new exploration of Jinzhou Bank in innovative financial services and creating scene finance. In the future, Jinzhou Bank will combine different
consumption scenarios, continuously improve the bank card product system, actively expand new customer groups, tap potential customer value, and achieve new breakthroughs in card issuance, scale,
and profit.

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Barclays (UK) launches new Green BGIs to support sustainable trade
22
Barclays Corporate Banking has announced the launch of a new Green Bonds Guarantees & Indemnities (BGIs)
product, which will offer support to businesses trying to reduce their environmental impact as they conduct their
day-to-day activities. The Green BGI focuses on tackling the challenges that businesses face when entering into
trade-related contracts. By providing a guarantee to the buyer that the seller will fulfil their contractual obligations, the
bank enables sellers to trade with confidence and achieve their business goals – whilst also fulfilling their commitments
to sustainability. The bank is helping companies of all sizes and across a breadth of sectors to fulfil their green and
sustainable goals by pioneering a range of innovative products and services, including Green Asset Finance, Green
Deposits, Green Innovation Finance and Green Trade Loans.

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BCI-Banco Credito (Chile):MACH incorporates new functionality for bill
payment of more than 150 different companies
23
This week MACH, Bci's digital account, launched a new functionality for paying bills through its application. In total,
there will be about 3 million people who will benefit from this incorporation that allows to settle more than 150
accounts of different companies of services such as tag, electricity, water, gas, credits, telephony and internet and
education, among others. The solution presented by MACH is very simple and in three steps the users of the app will
be able to pay their bills and leave them saved, making the process even easier. For this, only the customer identifier
number of each business is required, which is entered only once. Additionally, delinquent accounts can be paid and in
the case of collections in UF, the same app transfers them to Chilean pesos.To use this new function, you must enter
the app, then enter the "Services" section and then press "Bill Payment". The payment history is recorded within the
movement history within the application, and for each transaction customers will receive a receipt.

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CaixaBank (Spain) launches Food & Drinks to enhance its specialization in
the restaurant sector
24
CaixaBank reaffirms its commitment and support to the catering sector with the launch of CaixaBank Food & Drinks, a new business division created to promote
the hospitality market through a model of proximity with bars, restaurants and coffee shops, which will be articulated through a specialized and omnichannel
service. The objective of this initiative is to support the hospitality market and offer businesses in this sector the personalized attention they require with products
and services that adapt to their specific needs, both financial and management, and even with non-financial services that provide added value to their businesses
in areas such as training and advice. CaixaBank, chaired by Jordi Gual and directed by Gonzalo Gortázar, is a benchmark for businesses in the hospitality sector
with a portfolio of more than 80,000 clients. Currently, one in four hospitality establishments are CaixaBank customers and the entity is the leader according to the
annual turnover of the sector through card payments, with a 25.5% share. With the launch of Food & Drinks, CaixaBank once again shows that it wants to continue
to be a key element in the recovery of the Spanish economy, supporting the specific needs of this fundamental sector for the country, which in 2019 represented
6.2% of GDP national. During this last year, the entity has made specific measures available to clients in the sector, including the granting of financing lines or the
moratorium on loans, in order to preserve as much as possible the liquidity of this type of business. Through Food & Drinks, CaixaBank offers bars, restaurants
and cafeterias an offer of differential products and services, as well as a network of professionals who are experts in the sector in all the bank's offices, who will
help them optimize the profitability of their business and simplify your daily activity. The catalog of products and services will include everything from collection
technology solutions for both physical and online sales, to financing adapted to the projects and needs of this type of business.

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CaixaBank (Spain) launches its new corporate website to strengthen
communication with its stakeholders
25
CaixaBank has just launched its new corporate website, which transmits the bank's positioning, and brand values, incorporating regulatory compliance and
the latest digital trends to become a more visual and effective communication tool. The new portal also presents amore modern look & feel, with fonts in
great contrasts and highlights with greater photographic impact, in line with the entity's new brand image. The objective is to strengthen the relationship with
the different stakeholders; Therefore, the main priority has been to improve your user experience by quickly and easily obtaining the information you are
looking for, presented with new rich multimedia formats. To achieve this, the navigation structure has been simplified, with a main menu that presents all the
relevant content for the user in five sections. Thus, the new menu is more visual and structured, with an easier and more intuitive layout that facilitates access
to information. The new website, with a responsive design to facilitate access with mobile devices, offers current and informative content relevant to the user.
It has been proposed with a transversal nature that allows the constant publication of stories that provide context and humanity to the bank's corporate
messages, with a special emphasis on its positioning as a socially responsible bank. New functionalities have been defined for the new corporate website that
allow it to be transformed into a best-in-class portal on the market. Among the new advanced functionalities are a state-of-the-art search engine with
predictive recommendations and cross site search, the synchronization of the investor's agenda with the personal calendar of the users and new interactive
charts for the analysis of the main economic indicators and the evolution of the CABK share. Likewise, the future integration of the NEO virtual assistant
and an events platform for the visualization of Shareholder webcasts is planned.

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New CIBC (Canada) Mobile banking feature uses AI to give clients
personalized, data-driven insights into their spending and saving
26
CIBC launched its new CIBC Insights feature, which offers clients personalized and actionable data-driven recommendations based
on their financial transactions. Using AI and machine learning, CIBC Insights notifies clients of savings opportunities and unusual
transactions, while providing guidance that can support better everyday spending decisions. CIBC Insights is available to clients
through the award-winning CIBC Mobile Banking App. CIBC Insights can help clients better manage their daily spending and saving
by identifying trends and deviations from their usual patterns, based on their debit and credit card transactions. Additionally, the tool
offers tailored tips and suggestions based on a client's spending history, which may include setting spending limits for different
categories or merchants to better manage expenses, or reminders to put available funds into savings. CIBC Insights follows several
recent CIBC digital banking updates and offerings, including the AI-based Virtual Assistant that can perform banking transactions
and answer questions about everyday banking, and CIBC GoalPlanner™, an innovative and interactive planning platform that, with
support from a CIBC Imperial Service advisor, highlights opportunities, shortfalls and surpluses in areas such as cash flow, to support
the goal planning process.

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New CIBC (Canada) Dividend® credit card enhancements offer more
cash back opportunities for everyday spending
27
CIBC introduces a package of exceptional product features and benefits to CIBC Dividend® credit cards that help cardholders earn more cash back
for their spending. Additionally, CIBC Dividend Visa cards now have the broadest range of bonus earning categories compared to other cards in
market. With cash back rewards becoming increasingly popular in Canada, CIBC Dividend cards have been refreshed so cardholders can now earn
cash back across more everyday categories than ever before: grocery, gas, dining, transportation and recurring payments such as monthly
streaming subscriptions. For CIBC Dividend cards, there's no limit to the cash back that can be earned. CIBC Dividend card holders can also access
a new On Demand Redemption feature, meaning their cash back rewards can be redeemed at any time during the year once a minimum cash back
balance of $25 has been earned. Clients can redeem cash back as often as they wish through CIBC Online Banking and CIBC Mobile Banking.
Another enhancement now available to most CIBC personal and business credit cards is instant digital card replacement. In the event their credit
card is lost or stolen, clients can report it through the CIBC Mobile banking app, and now get immediate access to their replacement card, which
can be used with Apple Pay or Google Pay. With no need to call the client contact centre, and no wait time, it's another way CIBC is offering
convenient digital solutions to support clients, and provide greater ease and peace of mind when it comes to their credit cards.

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CIBC (Canada) now accepting applications for the Highly Affected
Sectors Credit Availability Program
28
CIBC announced that it is now accepting applications for the Highly Affected Sectors Credit Availability Program
(HASCAP), a new federal government loan program for small and medium-sized businesses continuing to face
impacts related to COVID-19. Existing CIBC business clients may be eligible for fixed-rate loans of up to $1 million,
with interest-only payments for the first 12 months. The loans, ranging from $25,000 to $1 million, are available for
existing CIBC business clients, providing funds for ongoing operational cash-flow needs. To be eligible, clients will
need to have experienced a 50 per cent decrease in revenue and have already used the Canada Employee Wage Subsidy
(CEWS) or the Canada Emergency Rent Subsidy (CERS) for three months, unless they weren't eligible for those
programs. Clients may also need to provide documentation as required by the government. If clients haven't applied for
CEWS or CERS yet, they can do so now and be eligible for HASCAP after.

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CIMB (Malaysia) Launches Greenbizready, A One-Stop Sustainability
Solution ForSmes
29
CIMB Bank Berhad and CIMB Islamic Bank Berhadhave launched CIMB GreenBizReady, a one-stop sustainability solution for Malaysian small and medium
enterprises (‘SME”) looking to start and progress on their sustainability journey. With an allocation of RM250 million, SMEs will be empowered through financial
solutions and incentives such as sustainability-linked financing benefits, access to sustainability service providers, training and capacity building, certification and
advisory services, and business matching with support from industry leaders and government agencies. Through GreenBizReady, CIMB hopes to catalyse the transition
of Malaysian SMEs towards the green economy, in line with the Malaysian Government’s aim of advancing the sustainability agenda as part of a holistic and inclusive
economic approach. GreenBizReady will provide SMEs with a competitive advantage by equipping them with practical knowledge and tools to incorporate economic,
environmental and social (“EES”) considerations into their business, helping them become sustainability-ready for long-term business resilience. It will also help SMEs
to tap into the support and incentives provided by various Government agencies that are tasked with accelerating the adoption of the green economy. As evidenced by
the adverse impact of the global pandemic and severe weather events related to climate change, there is an urgent need for businesses of all sizes to take EES
considerations seriously. Being a founding member of the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking
and a signatory of the Collective Commitment on Climate Action (CCCA), CIMB takes a long-term view on its business to build a sustainable future for itself as well as
its strategic associates in growth. In recent years, shareholders, regulators, investors and stakeholders have increasingly taken a more active approach such as through
shareholder resolutions and regulations to compel companies to have faapproach such as through shareholder resolutions and regulations to compel companies to have
fair labour practices, reduce greenhouse gas emissions, increase diversity and inclusion, among others.

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Non-residents can now register for BIDV (Vietnam) e-banking services
30
Providing e-banking experience to customers, BIDV officially offers the products to foreigners and Vietnamese
non-residents.Accordingly, foreigners and Vietnamese non-residents can register for BIDV SmartBanking and BIDV
Online. BIDV SmarBanking: For individuals (resident and non-resident) of 18 years of age and above having full civil
act capacity; or of 15 years of age and above with no limit civil act capacity according to the Law; or household
businesses having a current account opened at BIDV and having provided a mobile phone number to BIDV. BIDV
Online: For individuals (resident and non-resident) of 18 years of age and above having full civil act capacity; or of 15
years of age and above with no limit civil act capacity according to the Law – who already opened a current account
and provided a mobile phone number at BIDV. All foreigners and Vietnamese non-residents using BIDV
SmartBanking and BIDV Online will be able to access all financial and non-financial features except for online savings
and gifts.

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Commercial Bank (Qatar): Tap N’ Pay with CB Pay and earn QAR 10
with every Tap!
31
Commercial Bank, Qatar's leading innovative digital Bank, has launched “Tap N' Earn," an exciting campaign encouraging CB customers to pay
by tapping their mobile phones and earn QAR 10 on every in-store transaction they make, CB Pay Tap N' Earn, which runs from February 17th till
April 15th, 2021, translates just another aspect of the Bank's digital leadership in the market. CB customers who hold an Android mobile phone
are invited to use Qatar's first Cards digital mobile wallet launched by Commercial Bank, CB Pay, and get the chance to earn QAR 10 per tap up
to a maximum cashback of QAR 200 during the campaign period. To seize the opportunity, all what customers have to do is use their Android
mobile phones, log in to CBQ Mobile App, select CB Pay under Card services, and digitize their CB Credit or Debit Card. As a digital pioneer,
Commercial Bank introduced CB Pay, the first-ever Cards digital mobile wallet in Qatar a year ago. It provides safer and faster payment options,
whereby customers can simply select their CB Credit or Debit card to add to their mobile phones. CB Pay can be used locally and abroad and
allows online payments, in-store payments (Android phones only), and a better card control. Commercial Bank contactless card offering “Tap &
Pay" has been a huge success and complemented the government's COVID measures of safe and hygienic payments. Within 3 years of launching
its contactless technology, Commercial Bank has successfully reached over 14 million taps, made by its customers using their contactless cards
and devices at their favorite local and international outlets

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Commercial Bank (Qatar) enables payment through wearables in Qatar
32
Commercial Bank, the most leading digital Bank in Qatar, has announced the launch of a new digital feature that enables
payment through wearables, a new innovative payment method provided through smartwatches and trackers. Through this
new offering, Commercial Bank is adding one more contactless payment solution that allows users to make secure
payments from the smartwatch or fitness trackers, without the need of a phone or cards. Commercial Bank cardholders
will very soon enjoy this innovative payment tech by simply registering their CB Credit or Debit card details into their
wearable smartwatch or tracker using the devices' applications and then make contactless payments by simply tapping
their smartwatch at any contactless supported payment terminals. Commercial Bank's newly launched service fulfills the
bank's promise of bringing payment solutions to match the evolving lifestyle of its customers; thus, becoming one of the
first local banks to offer athletes and sports enthusiasts in Qatar a new way to pay for their purchases with their watches
and keep moving.

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Commonwealth Bank(Australia):New CommSec tool supports investors
to grow their investment knowledge
33
CommSec has seen a 200 per cent increase in investors seeking executional information via the website, such as ‘how to place a
trade’, over the last 12 months. Regardless of one’s experience level, there is always more to learn. This is particularly relevant for
those investors who started their investment journey during a year of unprecedented trading activity. According to CommSec data,
the number of first time traders more than doubled since February 2020 (18 per cent compared to 8 per cent pre-COVID 19). The
majority of these new CommSec customers (83 per cent) were under 44 years of age – a 17 per cent increase compared with
pre-COVID trends.First time traders contributed around 10 per cent of total trades since February 2020, compared with 4 per cent
before COVID.In response to more investors entering the market, CommSec is launching CommSec Learn, a series of free, bite sized
learning topics with videos and exercises designed to help investors steadily expand their knowledge at their own pace.It features
credible, expert content covering the basics and the ‘how to’s’ of setting investment goals, building an investment strategy, analyzing
performance and managing risk. New topics will be added over time to help more experienced investors take their knowledge to the
next level.

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CommBank (Australia) announces Green Loan
34
Commonwealth Bank has announced a new CommBank Green Loan, which will make it easier for CommBank home
loan customers to purchase and install renewable technology. By partnering with customers, CommBank is helping to
contribute to a sustainable future. The bank’s Group Executive Angus Sullivan said: “As part of our commitment to the
responsible global transition to net zero emissions by 2050, we’re supporting our customer’s access renewable energy
through sustainable housing solutions. Customers with an eligible CommBank home loan or investment home loan can
use the Green Loan to purchase and install eligible small-scale renewable technology such as solar panels (and
invertors if applicable), battery packs and electric vehicle charging stations at the property used as security for the
existing home loan.Eligible small-scale renewables must be installed by an accredited installer certified and trained to
ensure systems meet industry best practice standards and all relevant Australian Standards.

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Greener buses to be introduced across England with support from
Yorkshire Bank
35
Rotala, a national bus company which operates key transport routes across England, will introduce a new fleet of low carbon
emission buses in 2021 as it continues to become a greener business. With financial support from Yorkshire Bank, Rotala is
in the process of purchasing 163 micro hybrid low-floor double and single-decker vehicles, which meet Euro 6 emissions
standards, as well as the Government’s Low Emission Bus scheme targets to improve fuel consumption and reduce emissions.
Most of the double decker vehicles will be introduced into its Greater Manchester business, Diamond Bus North West, and be
in service by mid- 2021. Single decker vehicles will be introduced into the company’s West Midlands, Preston Bus and
Heathrow operations, also by mid- 2021. The micro hybrid bus powers the electrics and compressed air systems by recovering
energy that is otherwise lost from braking, which can save up to 10 per cent in fuel costs. The engine is a low carbon diesel
engine powertrain, which allows Rotala to benefit from the extra Bus Service Operator’s Grant available from the UK
Government under the Low Emission Bus scheme.

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Virgin Money (UK) launches new cashback rewards programme for
credit card customers
36
Virgin Money has introduced Virgin Money Back, a new rewards programme for its c.1.5 million credit card customers offering up to 15% cashback on
spending. Once registered for Virgin Money Back, customers will receive personalised offers from a range of retailers. Offers will be allocated to customers
automatically, meaning it is a simple case of spending with retail partners and earning rewards, and customers will never miss out on an offer. Virgin Money
Back is available to all Virgin Money credit card customers, including those with Virgin Atlantic credit cards who will earn cashback in addition to the Virgin
Points they earn already. Cashback earned will normally be available for customers 35 days after spending, and can be transferred to any current account or
used to offset against the credit card balance. Virgin Money Back represents a further step forward in Virgin Money’s ambition to reward its customers and
build a loyalty programme that will drive growth in its personal banking division. Customers can register for Virgin Money Back, see what offers are
available and manage their rewards balance using the Virgin Money credit card app, which is available for both Apple and Android devices. Using the app,
customers can also view their balance and transactions, access monthly statements, freeze and unfreeze their card, view their PIN and manage payments to
their balance. Virgin Money Back is offered in partnership with Reward, the award-winning provider of content and capabilities to support customer
engagement in banking. The cashback offers available will change over time, with new retailers being added into the programme and some offers being
available for a limited period. At launch, offers will be available from a range of retailers including Aveda, Caffe Nero Online, Coach, Crew Clothing,
Europcar, Gousto, MAC, Matalan, Origins, P&O Ferries, Sunglass Hut and Sweaty Betty.

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StoneX Technology Services Launches StoneX Messaging Hub
37
StoneX Group Inc. announced that its wholly owned subsidiary, StoneX Technology Services LLC has introduced the StoneX Messaging Hub. XMH
is an enterprise-grade technology solution that acts as a single gateway for standardizing and automating both inbound and outbound flows of the
financial documentation required as part of the daily operations for financial institutions and blue-chip corporates. The StoneX Messaging Hub has been
designed to streamline and automate financial messaging, with its underlying infrastructure completely designed from the ground up to significantly
improve the client experience. The infrastructure allows XMH to be highly adaptable and integrate seamlessly into commonly used platforms and APIs,
providing firms with the ability to insulate applications they use in their daily operations from expensive and time-consuming updates. The Company's
Global Payments Division is the first to incorporate XMH. XMH is also able to support all file types for financial messaging including xls, csv, fixed
format and PDF, and will convert them into standardized file types such as a Swift ISO20022 for payments or an MT940 for account statements. The
StoneX Messaging Hub provides a customizable dashboard showing the user's current global cash positions and a distributed banking module that helps
maintain up-to-date counterparty details by using ID codes unique to each counterparty. It supports payment processing as well as account statement
generation and processing. Further updates are planned to add additional forms of financial messaging to support other divisions within StoneX as well
as external clients. Financial messaging support for securities and commodities will be incorporated into the platform in future updates.

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Technopolis tickets now on sale via KBC (Belgium) Mobile!
38
Mechelen and Brussels- From now on, you can also buy tickets for Technopolis via the KBC Mobile. With its 1.5 million active users, this
app is one of the most important open banking platforms in Belgium. For some time now, you have been able via KBC Mobile to recharge
your prepaid phone card with Proximus, Orange and Base, fill up with fuel at Q8 or send a registered mail, but from now on you can also buy
tickets for Technopolis. For the activity centre in Mechelen, the collaboration with KBC means greater visibility among a very broad audience,
which also promises to translate into a positive effect on ticket sales. With its 1.5 million active users, KBCMobile is one of the leading open
banking platforms in Belgium. Via KBC Mobile you can manage not only banking and insurance, but also 30 non-financial services, such as
recharging your prepaid phone card with Proximus, Orange and Base, filling up with fuel at Q8 or sending a registered mail. Currently more
than 440,000 KBC customers use these services and KBC Deals, and their number is growing steadily, reaching 2.8 million transactions in
2020. From now on you can also buy tickets for Technopolis in a very user-friendly way. Technopolis joins the group of leisure providers that
have recently started offering tickets via KBC Mobile. The cooperation with KBC promises to have a favourable effect on Technopolis' ticket
sales. This is more than welcome, since this activity centre - like many others - has had a difficult year financially due to the corona crisis.

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National Bank (Canada) Investments Launches Four New ETFs
39
National Bank Investments Inc. (NBI) announced the launch of four exchange-traded funds. Each NBI ETF listed in the table below has closed the initial offering of units, and those
units will start trading on the Toronto Stock Exchange. National Bank Trust Inc. (NBT) will act as portfolio manager of the NBI ETFs and will delegate investment decisions to the
sub-advisors indicated in the table below.
• NBI Sustainable Canadian Corporate Bond ETF: The NBI Sustainable Canadian Corporate Bond ETF’s investment objective is to provide a sustained level of current income and
capital growth, with an emphasis on bonds issued by Canadian corporations with a carbon intensity substantially lower than that of the estimated carbon intensity of the NBI
Sustainable Canadian Corporate Bond ETF’s benchmark, while considering ESG issues, climate risks and contribution to United Nations (“UN”) sustainable development goals. It
invests, directly or indirectly through investments in securities of other mutual funds, in a portfolio comprised primarily of bonds issued by Canadian corporations.
• NBI Canadian Dividend Income ETF: The NBI Canadian Dividend Income ETF’s investment objective is to maximize the potential for long-term capital growth and to generate
sustained dividend income. It invests, directly or indirectly through investments in securities of other mutual funds, in a portfolio comprised primarily of equity securities of Canadian
companies that pay dividends.
• NBI Active U.S. Equity ETF: The NBI Active U.S. Equity ETF’s investment objective is to provide long-term capital growth. It invests, directly or indirectly through investments
in securities of other mutual funds, in a portfolio comprised primarily of common shares of U.S. companies.
• NBI Active International Equity ETF: The NBI Active International Equity ETF’s investment objective is to provide long-term capital growth. It invests, directly or indirectly
through investments in securities of other mutual funds, in a portfolio comprised primarily of common shares of international companies.

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Northern Trust (USA) Expands Foreign Exchange Currency Management
Services Footprint with Key New Mandates
40
Northern Trust is experiencing strong demand for its Foreign Exchange (FX) currency management services with a number of significant new
mandates over the past 12 months. Northern Trust’s currency management suite comprises share class hedging, portfolio overlay and ‘look
through’ hedging solutions to help asset managers and asset owners manage and mitigate currency volatility for their international investment
portfolios. The automated solutions are set to agreed client parameters to deliver active monitoring against target hedge ratios, unrealized P&L
views, real-time performance attribution analytics and detailed transparency and oversight dashboards. Northern Trust recently enhanced its
currency management solutions with machine learning models designed to enable greater oversight of thousands of daily data points and help
reduce risk throughout the currency management lifecycle in conjunction with Northern Trust’s strategic partner Lumint Corporation.
Northern Trust’s currency management services are part of the Northern Trust Global Foreign Exchange offering from Northern Trust Capital
Markets. Northern Trust Capital Markets provides brokerage, securities lending and transition management services, in addition to foreign
exchange. It is a division of Corporate & Institutional Services, which provides asset servicing, fund administration, middle office and revenue
enhancement solutions to asset managers, asset allocators and asset owners around the globe.

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Northern Trust (USA) Enhances Solutions for Middle East Clients with
Sunday to Friday Investment Performance Valuations
41
Northern Trust announced it has evolved its Investment Performance reporting services to deliver Sunday to Friday investment returns for clients with Middle
East mandates. The latest development from Northern Trust’s Investment Risk and Analytical Services (IRAS) group enables Middle East-specific
performance analytics to be reported with greater depth of analytics and timeliness for local markets. The enhancement enables Sunday returns to be
calculated for Middle East markets and portfolios – delivering information that is increasingly timely and representative of regional clients’ investment
portfolios. Northern Trust can also provide clients with two separate ‘views’ of their performance – for both the Middle Eastern and global working weeks –
for heightened oversight and transparency. Northern Trust's Investment Performance services provide institutional investors – typically pension funds,
sovereign wealth funds and asset managers – with valuable insights when tracking and analyzing risk and performance. These services allow clients to access
performance, attribution, contributions and ex-post risk results across individual and aggregated portfolios, supporting their investment management
processes ranging from regulatory reporting to enhancing institutional governance. Northern Trust’s IRAS group provides asset owners and asset managers
around the world with innovative analytical solutions, supporting over approximately US$8.1 trillion (as of 31 December 2020) of assets under measurement.
With consultants in Chicago, London, Basel, Abu Dhabi, Singapore and Melbourne, the group provides performance measurement, risk analysis and
investment compliance monitoring – enabling clients to gain greater insights into their investments for more informed decision making.

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Yes Bank (India) Launches a Wellness Themed Credit Card Encouraging Self-Care
And Fitness In Partnership With Aditya Birla Wellness Private Limited
42
YES BANK announces partnership with Aditya Birla Wellness Private Limited to launch the ‘YES BANK Wellness’
and ‘YES BANK Wellness Plus’ Credit Cards – aimed at the holistic health, self-care and wellness of consumers. As
consumers face new realities of home-schooling of children, working from home, and lack of physical contact with
loved ones and colleagues, this is an innovative step to encourage and promote self-care, mental and physical
well-being. Consumers can now enjoy the bouquet of complimentary health benefits by simply registering on the
Aditya Birla Multiply App. The mobile app allows consumers to avail complementary benefits such as annual health
check-up, round the clock doctor or counsellor helpline, in-studio or home based workout sessions, personalized diet
plans, among others, right at their fingertips.

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Fifth Third Bank (USA) Launches Digital Financial Literacy Program for
Children
43
Fifth Third Bank, National Association announced the launch of the first-ever digital version of the Fifth Third Young Bankers Club®, its signature financial educational program for
fifth-grade students. Young Bankers Club® is an engaging financial education program that helps students learn key math life skills online at any time. Lessons were developed to help
students establish sound foundations in money management and an appreciation for saving. Traditionally, Young Bankers Club® lessons were taught in school classrooms, often by
Fifth Third employees serving as mentors for the program. The new Young Bankers Club® program has been redesigned to deliver an accommodating experience for a virtual learning
environment. The new program offers greater accessibility through multiple platforms, including laptops, desktop computers, tablets and Android and iOS mobile devices. As a result
of the pandemic, more schools around the country have adopted eLearning solutions for both remote and in-class learning experiences, which makes the release of the new digital
format of Young Bankers Club® timely. The updated program incorporates greater flexibility for teachers. In only 30-45 minutes per week during an eight-week period, teachers can
help students learn all the basics of finance online at any time. The flexibility enables Fifth Third to deploy the program into more schools and across its 11-state footprint. The new
Young Bankers Club® digital format features a comprehensive curriculum that meets national and state educational standards for fifth-grade mathematics. Each lesson in the eight-unit
curriculum, which is presented through a game, provides a unique, engaging approach to financial literacy that helps students apply their knowledge gradually as they work toward
more complex scenarios. The program incorporates different facets of banking, while clearly identifying relevant math standards within each unit and outlining what students should
know and how to use the information. The most innovative feature in the digital format is the introduction of the 10-year-old character, Maximillion Money™, the president of Young
Bankers Club® and the richest kid in America. Maximillion Money™ guides the participants and his friends on a journey that takes them to the New York Stock Exchange, the U.S.
Mint, other financial industry landmarks and to a Fifth Third financial center. Students discover hidden clues, win rewards and badges, unlock avatars, level up to new adventures each
week, take weekly trivia to test their knowledge and challenge themselves to be first on the class leaderboard.

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Euromoney awards Santander (Spain) as Best Private Banking in core
markets recognizing its global leadership in wealth
44
Euromoney magazine has recognized Santander Private Banking as a leader in several categories of its annual awards, one of the
industry’s most prestigious accolades. In 2021, it named Santander Best Private Bank in Spain, Portugal, Mexico, Poland and Chile
and best bank for high net worth clients in United States, Latin America, Portugal, Chile, Mexico, Poland and Spain. Euromoney also
esteemed Santander’s investment in technology and commitment to responsible banking. Santander received the magazine’s awards
for Best Private Bank in Environmental, Social and Governance (ESG) & Impact Investing and Best Innovative or Emerging
Technology and Data Management in Latin America, alongside other similar awards for several countries in Latin America and
Europe. Euromoney’s awards, now in their 18th year, consider the work of the private banking industry and are based on a survey of
more than 2,000 people, including banks, fund managers and family offices, amongothers. Santander Private Banking offers clients
personalized assistance thanks to its team of specialized private bankers in Spain, Brazil, Chile, Mexico, Portugal, the UK, the US,
Poland and Argentina. It counts more than 100 branches and 2,500 experts. By the end of 2020, Santander Wealth Management &
Insurance division had €370 billion in assets worldwide.
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Santander (Spain) has been awarded Top Employers Europe 2021
certification for the fifth year running
45
Santander has received the Top Employers Europe 2021 certification for the fifth consecutive year. This certificate acknowledges excellence in the working
conditions the bank provides for its employees and its contribution to their personal and professional development. Only four banks in the world, including
Santander, have been awarded the European certificate. The certification is granted when a company is considered a Top Employer in at least five countries
on the continent. In this case, Santander received the certificate in three of its main markets in Europe (Spain, Poland and the UK) and its Santander
Consumer Finance units in Germany, the Netherlands, Austria, Poland, France and Belgium. In addition, it has also obtained this distinction in
Chile.Santander Spain has been awarded Top Employers certification for the fifth year running and is the best employer in the country with best conditions
for its employees and the second best employer in the world out of the c.1,700 companies certified. Its management of diversity and inclusion, adoption of
new ways of working, professional and career development opportunities and the focus on employee wellbeing are some of the top-scoring aspects in the
survey sent out by Top Employers to grant the certificate. This certificate shows that the bank has taken another step towards meeting its 2021 targets of being
one of the ten best companies to work for in at least six of the geographies where it operates. This distinction comes on the heels of other accolades received
by Santander, such as being one of the top 25 companies to work for in the world by Great Place to Work. The Top Employers Institute programme certifies
companies on the basis of their participation and the results of its HR Best Practices Survey, which assesses six domains regarding human resources, divided
into 20 areas including people strategy, working environment, talent acquisition, learning, well-being, and diversity and inclusion.
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Bank Muscat (Oman) wins Best Foreign Exchange Provider in Oman
award from Global Finance
46
Bank Muscat, the leading financial services provider in the Sultanate, has won the Best Foreign Exchange Provider in Oman (2021) award from Global Finance. The foreign exchange and
international payments landscape is an essential part of banking relationships in global economy. Given the dynamic environment and continuous enhancement in technology, the responsibility
for quicker and efficient processing is a shared effort by all financial institutions. Superior transaction processing quality resulting in higher efficiencies, faster payments, cost reductions and
honoring of commitments to operational excellence have been the hallmarks of the bank’s operations. Bank Muscat is focused on offering a number of niche services to sustain its competitive
edge and is the only bank in the country to offer a full suite of treasury products and services on a 24x7 basis through its Treasury & Capital Markets division. The bank is a consistent winner
of the Best Foreign Exchange Provider in Oman award as well as awards by major international banks for outstanding performance in error-free remittance and fund transfers. The award
criteria included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. The prestigious publication Fast Markets MB
has consistently ranked the bank among the top 5 global institutions for commodity price forecast. A multi-award winning organization, Bank Muscat has established more than 500
correspondent banking relationships across the world through its Global Financial Institutions division. Its performance across different facets of banking and finance has been consistently
lauded by the international financial and banking community for several years.The treasury products and services include meeting foreign exchange requirements of customers and offering
hedging solutions for foreign currency, interest rate benchmarks and commodity price risks. The division offers streaming foreign exchange prices to its counterparty banks and customers and
is among the few regional banks to offer a comprehensive commodity hedging product suite to its customers via precious metals, base metals, agricultural and energy products. The bank’s
Treasury & Capital Markets division continues to manage the bank’s surplus liquidity through active participation in money markets instruments in line with bank’s overall ALM policy and
regulatory guidelines. The service encompasses East Asian as well as early New York time zones spanning all international and GCC working days. The bank believes that its continued focus
on synergy efforts and offering quality service to customers will create a sustainable competitive edge for its client-focused businesses in the years ahead.
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Bank of Ireland (Ireland) becomes first Irish business to gain ‘Disability
Smart Standard’ accreditation
47
Bank of Ireland is proud to have become the first Irish company to achieve the prestigious ‘Disability Smart Standard’, a workplace accreditation
recognizing the Bank’s commitment to disability inclusion. The Disability Smart Standard is an audit developed by the Business Disability Forum to
help organizations measure and improve on performance for disabled customers, clients or service users, and employees. Bank of Ireland achieved
‘Bronze’ status in its first-ever evaluation under the Disability Smart Audit framework, which assesses organizations across ten key business areas
ranging from their commitment to disability inclusion, their recruitment process, access to products and services, and how they make adjustments to
remove or reduce barriers for employees in the workplace. Bank of Ireland scored an average of 75% across all ten business areas assessed as part of
the Disability Standard audit and scored highly in the areas of Commitment, Adjustments, Recruitment and Premises. The audit commended Bank of
Ireland for its engagement with the NCBI, who the Bank worked closely with on user testing for its new mobile banking app. These tests helped Bank
of Ireland to ensure its app is easily accessible for customers with vision impairments. The report also praised the Bank’s Reasonable Adjustments
Guide and Passport for being clear and easy to follow. The Guide outlines the process individuals and managers follow to make workplace adjustments
required by people with hidden or visible disabilities. The Passport ensures a record is maintained, meaning when the individual changes jobs, relocates
or is assigned a new manager within the organisation, their required adjustments are clearly understood and can be facilitated without further review.
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Bank of Jinzhou (China) successfully accepted Mutual Finance Association's
first bank digital certificate business in China
48
The China Internet Finance Association digital letter certificate platform successfully launched the country's first bank letter certificate business, and Jinzhou Bank
Tianjin Branch completed the reply work. This time, Bank of Jinzhou stood out among the first batch of cooperative banks of the Mutual Finance Association and was
selected as the exclusive cooperative bank for this business. It participated in the work that has positive practical significance for the innovative application of bank letters
and certificates, marking the Bank of Jinzhou Another substantial breakthrough were made in the digital transformation of traditional offline businesses. The bank letter
certificate business involves audited companies, audit institutions, banks, and regulatory agencies. The digital letter certificate platform can realize the online application,
authorization, sending, and response of the entire process, effectively solving the multiple traditional offline paper models Disadvantages, to ensure data safety and
reliability, anti-tampering and traceability. In order to implement the relevant policy requirements of the "Guiding Opinions on Promoting the Digitalization of
Accounting Firms' Letters and Certificates" by seven ministries and commissions including the Ministry of Finance and the People's Bank of China, Bank of Jinzhou
attaches great importance to and carefully organizes the docking cooperation and business with the Mutual Finance Association's digital letter certification platform After
several months of intensive preparations for the pilot work, it was successfully selected as the first batch of cooperative banks in the country on the Mutual Finance
Association's digital certificate platform, and won the only designated reply unit for its first landing business. The successful acceptance of the first digital certificate
business is a successful exploration and practice of Jinzhou Bank leveraging on external third-party platforms to realize the online traditional corporate business. In the
future, Bank of Jinzhou will continue to expand the financial technology innovation cooperation organized by industry associations, strengthen professional service
capabilities through digital transformation, and provide customers with a better financial service experience.
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BMO Financial (Canada) Group ranked top bank in North America on Corporate
Knights' 2021 Global 100 Most Sustainable Corporations in the World
49
BMO Financial Group has been named to Corporate Knights' 2021 Global 100 Most Sustainable Corporations in the
World and is, for the second year in a row, the most sustainable bank in North America. BMO was recognized for its
sizable portfolio of sustainable loans – including green loans and loans to women and BIPOC-owned small businesses –
as well as its ongoing commitment to create a sustainable future across all its operations. BMO also scored highly in
leadership and board diversity, with women representing 45.5 per cent of the Board's independent directors. BMO
continues to make significant progress on its Purpose commitments to double the good for a sustainable future, thriving
economy and inclusive society. In 2019 BMO committed to mobilizing $400 billion in sustainable finance by 2025,
including lending, underwriting and investing $150 billion in companies pursuing sustainable outcomes, and aligning
$250 billion in client investments to sustainable objectives. By 2020 the bank had achieved 71 per cent of its $150 billion
target and surpassed its $250 billion target.
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