FCB Canada’s Post

Banque Populaire Rives de Paris

Philippe Hourdain, Chairman of the Banque Populaire du Nord, was elected Chairman of the Fédération Nationale des Banques Populaires (FNBP) on 7 June by the Presidents and Chief Executive Officers of the Banques Populaires. Philippe HOURDAIN succeeds Andre Joffre whose term of office is coming to an end, he wishes to embody an active Federation, carrying the voice of the Banques Populaires in the Groupe BPCE, for the benefit of the #collective interest. "I want the Federation to proudly and actively carry the Banque Populaire identity: #proximity to the territories, the entrepreneurial culture and a modern and committed #cooperative #model, these are #values in which I believe, which are very current and which we will promote to the public." Learn more: https://lnkd.in/ejuj9q_r

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NAB's monthly business survey provided some encouraging news, with business confidence remaining positive, profits holding up, and cost pressure slowly easing. Business confidence, while below the long run average, remained in positive territory in April, even as conditions slipped slightly, to be around long run average levels. Importantly, the key profitability index remained stable. The NAB's four cost indicators all continue their steady decline, with retail price growth, reducing from 1.4% QoQ to 0.9% QoQ. While encouraging, 0.9% quarterly growth is still equivalent to an annual growth rate in retail prices of over 4.1% per annum. Too high if we want inflation in the 2% to 3% band. Similarly, labour cost growth continues at a way-too-high 1.5% QoQ or an annualised growth rate of over 7.1%. While it's great to see businesses holding up despite the slowdown in spending, it's clear we are still quite far away from businesses conditions easing enough to warrant a rate cute. #australianeconomy #SME #ausbiz

Tunisia Winner: Banque Zitouna Banque Zitouna, the country’s first and largest Islamic lender, has won Tunisia’s Bank of the Year award for the first time ever, in recognition of the bank’s strong financial performance, a series of key internal upgrades and new remote banking products. “Over the past year, our bank’s remarkable progress is evident in strengthened main activity indicators. Centred on customer needs, our achievements have redefined our commercial strategy: a digital transformation providing personalised services,” says Banque Zitouna’s CEO Nabil El Madani. “Our ongoing investment in research and development ensures we adeptly cater to the dynamic needs of our valued customers.” The bank had a financially successful year in 2022, with Tier 1 capital and assets growing by 5% and 11%, respectively. Net profit rose by 17%, with return on equity up to 12.6% from 11.6%. Banque Zitouna’s cost-to-income ratio improved for the year, even as non-performing loans rose slightly to 5.9%. Beyond its financial performance, Banque Zitouna recorded a series of certification updates during the year, including for its Siron know-your-customer and anti-money-laundering compliance platforms, and Swift customer security programme. The bank also received ‘Kafeat’ certification from Tunisia’s National Center for Continuing Training and Professional Promotion in recognition of the excellence of the bank’s internal training programme. #Congratulations

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Banque de France Governor François Villeroy de Galhau on the size of European banks and financial institutions at the presentation yesterday of the annual report of Autorité de contrôle prudentiel et de résolution (ACPR) « There may have been the idea that size was a factor of risk, that size should be curtailed. I believe this is objectively an outdated approach. Size is a matter of competitiveness for European financial institutions. » « It is more than necessary today to leverage on the size of the european market, and bring our financial power to the level of our economic power and our savings capacity. » #Bankingunion #CMU #EUcompetitiveness

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Expect a slight uptick in the ASX with the S&P/ASX 200 Index set to increase by 0.3%. All eyes are on the RBA's upcoming interest rate decision. Westpac's balance sheet strength allows for a $1b share buyback and a special dividend, showing confidence despite a 16% profit dip. Qantas resolves an ACCC claim with a $120m payout, promising better customer support in the future. Meanwhile, GrainCorp cuts profitability forecasts due to global market pressures. In appointments, ex-APRA chairman Wayne Byres joins the ASX board, bringing regulatory expertise. #ASX200 #RBA #Westpac #ShareBuyback #Qantas #ACCC #GrainCorp #CorporateGovernance