Nestoil Limited has rejected what it calls a "blackmail campaign" allegedly driven by First Bank of Nigeria and its Chairman, denying responsibility for banks' failure to pay dividends.

Barclays has become the first bank to reintroduce a sub-4% mortgage deal in the UK, though its availability is limited, following the withdrawal of many similar products due to rising swap rates.

Key highlights from Incyte's first-quarter earnings call have been released.

Prva banka (First Bank) has filed a lawsuit against Zogović, seeking 5,000 euros for alleged damage to its reputation.

An NRI woman has accused Ribhav Rishi, identified as the 'mastermind' of an alleged scam, of defrauding her of Rs 2.5 crore through IDFC First Bank.

The Haryana government has suspended two Indian Administrative Service officers and severed ties with Kotak Mahindra Bank following alleged irregularities involving government funds parked with IDFC First Bank.

Farihan Alhassan, Managing Director of GCB Bank, is promoting a 'Ghana-first' banking strategy, emphasizing the bank's local decision-making power and positioning it as a key engine for Ghana's economic growth, aligning with the country's specific economic requirements.

First Bank of Nigeria Limited has partnered with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) to provide access to affordable mortgage windows, allowing individuals to secure property nationwide with up to N100 million in loans.

Chandigarh Police have arrested hotelier and real-estate developer Vikram Wadhwa in connection with a ₹590-crore fraud linked to IDFC First Bank, after he had been evading arrest since the scam surfaced.

Investigators have revealed a sophisticated Rs 590 crore scam involving IDFC First Bank, operated through a network of fake companies and manipulated bank transactions, leading to forged memos and frozen accounts.

The Bank said that it has completed reconciliation of all relevant accounts and did not notice any further discrepancies.

With this BoB has become first bank in India to issue a domestic Green Infrastructure Bond

An investigation into a Rs 590-crore fraud at IDFC First Bank has traced Rs 1.25 crore to a Haryana official, with funds allegedly used for an SUV and family expenses.

Prva banka of Montenegro issued a statement strongly condemning what it described as unjustified police action against its employees and clients, who were subjected to armed intervention without clear legal basis.

DPS MP Popović has accused Boris Bogdanović, described as a 'Democrat strategist,' of orchestrating a 'performance' outside Prva Banka, calling it an act of 'bullying due to accumulated frustrations.'

A significant Rs 590-crore scam has been reported at IDFC FIRST Bank in India, involving forged signatures of an IAS officer, discrepancies in cheques, and a trail of missing millions.

An investigation into the IDFC First Bank scam has traced a Rs 100-crore financial trail to a firm reportedly owned by siblings, uncovering new details about the alleged fraud.

"Nearly ₹556 crore, including nearly ₹22 crore in interest, came back within 24 hours"

IDFC Bank's Managing Director Vaidyanathan stated that staff collusion was responsible for a fraud involving a Haryana Government account, and the bank will make provisions in line with its policies.

Panics, Politics, & Power: America's 3 Experiments With Central Banks Authored by Andrew Moran via The Epoch Times, The Federal Reserve, established more than a century ago, is the United States’ third experiment with central banking. For much of its existence, the institution maintained a low public profile. Only after the 2008 global financial crisis did the Fed begin communicating more openly, introducing post-meeting press conferences and allowing monetary policymakers to engage more frequently with the media. Greater transparency, however, has brought greater scrutiny. Public sentiment toward the Fed and its leadership has fluctuated over the years. Today, YouGov polling suggests the central bank is viewed favorably by 44 percent of Americans and unfavorably by 18 percent. If the Fed pursues a series of reforms, it will have “another great 100 years,” said Kevin Warsh, who was nominated by President Donald Trump to serve as the institution’s next chair. Comparable to past central banks, Warsh said, the current Federal Reserve System is beginning to lose the consent of the governed. “You can think about the Jacksonians of prior times say that the central bank seems like they’re trying to focus and they’re all preoccupied with those special interests on the East Coast, and they’ve lost track of what’s happening to us in the center of the country,” Warsh said in a July 2025 interview with the Hoover Institution’s Peter Robinson. “It’s a version of what worries me today.” What happened in the past, and why is it relevant to today’s central bank? The First Bank of the United States In the aftermath of the American Revolution, the United States faced a series of immense economic disruptions, forcing the nation’s architects to rebuild the economy. The objective was to lower inflation, restore the value of the nation’s currency, repay war debt, and revive the economy. Alexander Hamilton, the first secretary of the Treasury under the new Constitution, proposed establishing a national bank modeled on the Bank of England. Hamilton stated that a U.S. version would perform various duties, including issuing paper money, serving as the government’s fiscal agent, and protecting public funds. Not everyone shared Hamilton’s ebullience over a central bank. Thomas Jefferson, for example, feared that such an institution would not serve the nation’s best interests. Additionally, Jefferson and other critics argued that the Constitution did not grant the government the authority to create these entities. Nevertheless, Congress enacted legislation to establish the Bank of the United States. President George Washington then signed the bill in February 1791. Two of America's founding fathers: Thomas Jefferson (L) and Alexander Hamilton. The White House While bank officials did not conduct monetary policy as modern central banks do, they did influence the supply of money and credit, as well as interest rates. The entity managed the money supply by controlling when to redeem or retain state‑bank notes. If it sought to tighten credit, it would require payment in gold or silver, thereby draining state banks’ reserves and limiting their ability to issue new notes. If it wanted to expand credit, it simply held on to those notes, boosting state‑bank reserves and enabling them to lend more. By 1811, the national bank’s charter expired. While there had been discussions of allowing it to continue maintaining operations, Congress—both chambers—voted against renewing its mandate by a single vote. Its closure came shortly before the War of 1812, which fueled inflation and weakened the currency. Second Bank of the United States Lawmakers believed another central bank was critical at a time of fiscal, inflationary, and trade pressures. Congress used a similar 20-year model to produce the Second Bank of the United States, headed by Nicholas Biddle. The second incarnation had a federal charter, was privately owned, and was tasked with regulating state banks (with gold and silver for note redemption). President James Madison, who opposed the first central bank on constitutional grounds, supported the new institution out of financial necessity. Its creation stabilized credit and brought down inflation. However, by the 1830s, the bank faced strong opposition, particularly from President Andrew Jackson. Labeled the Bank War, Jackson engaged in a years-long initiative to dissolve the central bank. Jackson claimed the national bank was a tool for the wealthy eastern elite and a threat to self-government. “The Jacksonians described themselves as conscious hard-money men who supported the rigid discipline of the gold standard, yet they opposed the newly powerful national Bank because it restrained the expansion of credit and, thus, thwarted robust economic expansion,” author William Greider wrote in “Secrets of the Temple.” In 1832, Jackson vetoed legislation to recharter the bank four years early, delivering a fiery message that historians say was one of the most important vetoes in the nation’s history. “It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government,” Jackson wrote. “There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me, there seems to be a wide and unnecessary departure from these just principles.” The charter expired in 1836, leading to the panic of 1837. An economic crisis unfolded, leading to bank failures, business bankruptcies, rising unemployment, and contracting credit. While the collapse of the central bank is often considered a leading cause, the British also urged London banks to reduce credit to American merchants, causing a sharp drop in global trade. As the smoke cleared and dust settled, it was not until the 1840s that the United States embarked on a historic economic recovery, now known as the Free Banking Era. Banking was decentralized, and finance was largely unregulated. Despite an erratic financial system, the U.S. economy grew rapidly: agricultural production accelerated, railroads were built, and the country expanded westward. Additionally, deflation was paramount throughout most of the economic expansion. The Federal Reserve System The panic of 1907 led to the creation of the Federal Reserve System. Following years of heavy borrowing, speculative commodities investments (mainly copper), and enormous stock market gains, a financial crisis was brewing. The event nearly brought down the U.S. banking system. J.P. Morgan, a financier, intervened and emulated the actions of modern central banks. He met with the nation’s top bankers, facilitated emergency loans to financial institutions, and backed stockbrokers. The damage had been done as the United States fell into a year-long recession, marked by high unemployment and widespread bank failures. The Federal Reserve Board of Governors seal in Washington on Oct. 29, 2025. Madalina Kilroy/The Epoch Times Washington realized that it could not rely on private bailouts to prevent sharp downturns. Sen. Nelson Aldrich (R-R.I.) is widely regarded as one of the chief architects of the modern Federal Reserve System. In 1910, Aldrich hosted the famous Jekyll Island meetings, a gathering of U.S. officials and bankers, to discuss the blueprint of a new central bank. While the initial draft laid the foundation for the institution, the official Federal Reserve Act was drafted by President Woodrow Wilson, Rep. Carter Glass (D-Va.), and H. Parker Willis, an economist on the House Banking Committee. The new system was a public-private hybrid, with the federal government firmly in charge, and bankers running the regional reserve banks. “It was Wilson’s great compromise,” wrote Greider, “creating a hybrid institution that mixed private and public control, an approach without precedent at the time.” The legislation triggered a contentious political debate over the extent of its independence from the Treasury and the degree of authority delegated to policymakers over currency issuance. Days before Christmas, the bill cleared both chambers and was signed into law by Wilson on Dec. 23. “Wilson’s conviction that he had struck the right moderate balance seemed confirmed, however, by the reactions to his legislation,” Greider noted. “It was attacked by both extremes—the ‘radicals’ from the Populist states and the bankers in Wall Street and elsewhere.” Since its inception in 1913, the modern Federal Reserve has undergone numerous changes and has gained greater power. The New Deal, for instance, allowed the Fed to become the lender of last resort as Washington learned the central bank could not prevent bank failures. In 1951, the Treasury-Fed Accord restored central bank independence after the Federal Reserve had been forced to keep interest rates artificially low throughout the Second World War. Congress then enacted the Federal Reserve Reform Act in 1977, establishing the dual mandate of promoting maximum employment and maintaining price stability. 2026 and Beyond Over the past 50 years, the Fed has undergone modest changes, including the issuance of forward guidance and the disclosure of emergency lending facilities. But while each new regime has nibbled around the edges, Warsh has suggested he could effect substantial reforms at the central bank. “Until there’s regime change at the Fed and new people running the Fed, a new operating framework, they’re stuck with their old mistakes,” Warsh told Fox Business Network in October 2025. “Bygones aren’t just bygones.” Tyler Durden Wed, 02/18/2026 - 16:20

Tetra has launched CADD, Canada's first stablecoin backed by the Canadian dollar and issued by a financial institution. This marks a significant development in the country's digital currency landscape.

First Bank aims to achieve $200 million in loan growth by 2026, as it navigates and addresses credit costs associated with small business lending.

Several companies, such as Corteva, Tronox Holdings, and Hope Bancorp, have declared their latest dividends. Additionally, some firms like Hope Bancorp and Kforce have released their first-quarter financial results, showing mixed performance.

Ribhav Rishi, identified as a key accused in the IDFC First Bank scam, has been sent to judicial custody as the investigation into the financial fraud continues.

A company linked to the asset management foundation of the University of Győr has begun liquidation proceedings. This marks the first bankruptcy among Hungary's university asset management foundations.

The Haryana government has suspended two IAS officers, RK Singh and Pradeep Kumar, in connection with a Rs 590 crore scam involving IDFC First Bank. The probe into the alleged siphoning of government funds has been transferred to the CBI.

Prime Bank has become the first bank in Bangladesh to disburse consumer loans against treasury bonds.

Details emerge in the Rs 590-crore IDFC First Bank fraud case, revealing how an AU Bank regional head allegedly aided a key accused and pocketed Rs 10 crore.

Two Haryana government officials and a jeweller have been remanded to four-day Vigilance custody in connection with an alleged fraud involving IDFC First Bank.

The Haryana ACB has frozen over 100 bank accounts and identified money routed through fake firms in connection with the ₹590-crore IDFC First Bank scam, following earlier ED searches across 19 locations in Chandigarh, Haryana, and NCR.

IDFC First Bank on Tuesday said it has settled fraud claims at a Chandigarh branch at Rs 645 crore and has found no further discrepancies.

DBS Bank is the first bank in Asia Pacific to pilot Visa Intelligent Commerce, aiming to enhance everyday payment experiences.

A Haryana government employee has been apprehended in connection with a fraud case involving IDFC First Bank.

Prva banka Crne Gore (First Bank of Montenegro) has strongly condemned an 'unjustified action' by the Police Directorate against its property and clients, describing disturbing scenes witnessed by the public.

The Enforcement Directorate (ED) is reportedly preparing to register a case concerning a Rs 590 crore scam involving IDFC First Bank.

Following a fraud incident at IDFC First Bank, a Union Territory administration has instructed its departments to reconcile accounts held with private banks as a precautionary measure.

IDFC First Bank has paid ₹583 crore to Haryana government departments to settle a bank fraud case, raising concerns about governance and branch-level controls.

IDFC First Bank has disclosed a Rs 590 crore fraud involving its employees and others in accounts held by the Haryana government with the private sector lender.

Bad loans associated with Nestoil have reportedly led to the suspension of dividend payments for major Nigerian banks, including UBA, First Bank, and Access Bank. This situation is threatening the stability of the country's banking sector.

JPMorganChase will be the first bank sponsor in the history of the Olympic Games, as announced on Tuesday by IOC President Kirsty Coventry.

India's Central Bureau of Investigation (CBI) has obtained a three-day remand for four individuals implicated in a Rs 590-crore fraud case involving IDFC First Bank. The arrests are part of an ongoing investigation into the financial irregularities.

First Bank has announced its sponsorship of the Global Trade Review (GTR) West Africa 2026 conference, which will be held in Lagos, Nigeria.

Three individuals have been arrested and sent to judicial custody in connection with a Rs 75-crore IDFC First Bank-linked CREST scam.

The Indian state of Haryana has recommended a CBI probe into a Rs 590 crore fraud involving IDFC First Bank and AU Small Finance Bank, with the CBI now stepping in to investigate the diversion of government funds.

On March 18, 1831, the City Bank of New York experienced one of the first major financial crimes in US history, a robbery that paved the way for new types of criminal activity.

Fraud centres on IDFC First Bank's branch in Sector 32, Chandigarh, where government funds were meant to be parked as fixed deposits.

The Enforcement Directorate (ED) is investigating a fraud case involving IDFC First Bank, revealing that accused individuals routed money through shell companies, with key suspects currently absconding.

India's Enforcement Directorate has conducted searches across 19 locations in Chandigarh, Haryana, and the National Capital Region in connection with the IDFC First Bank fraud case.

Societe Generale Bank – Cyprus has become the first bank on the island to agree a four-day working week for its staff, after reaching a collective agreement with banking union ETYK covering the period 2023–2027. Bank of Cyprus, Eurobank, Alpha Bank, the National Bank of Greece (Cyprus), the Housing Finance Corporation, KEDIPES and bank insurance […]

An investigation is underway into a Rs 590 crore fraud at IDFC First Bank, tracing the siphoned funds from government accounts to jewellery shops.

Stjepović criticized First Bank, stating that the state bailed them out with public money, which was then allegedly misused, and now they claim 'attack' when police investigate.

First Bank announced it would seek an explanation from authorities regarding recent actions, while confirming that its Podgorica city center branch continues regular operations with all systems and services functioning smoothly.

An internal fraud at IDFC First Bank involved the diversion of Rs 25 crore, despite the cheque explicitly stating 'Rupees Twenty Five', highlighting a significant lapse in financial security.

IDFC First Bank has disclosed a significant fraud amounting to ₹590 crore, which was carried out through the use of forged cheques.

Amid the investigation into the Rs 590-crore fraud at the Chandigarh branch of IDFC FIRST Bank, the bank has said that it has repaid 100 per cent of the principal amount claimed by Haryana government

Earlier on Sunday, IDFC First Bank had reported a fraud of Rs 590 crore carried out by certain employees along with other individuals in accounts associated with the Haryana government.

Nuvama downgraded UPL, Jefferies maintained a buy on IDFC First Bank after a fraud disclosure, and Morgan Stanley rated Dixon Technologies underweight due to rising DRAM prices, as reported in a 'stocks to watch' article.