Public-sector banks asked to submit three-year business plans by March-end | Banking Isna, June 28, 2024 2 min read Last Updated : Mar 18 2024 | 11:36 AM IST The Center on March 18 directed Public-Sector Banks (PSBs) to submit their business plans until 2026-2027 (FY27) by the end of March, The Economic Times reported. The proposed plans will then be assessed on a quarterly basis by government-nominated directors on the banks’ boards, the report said, citing an official. The business plans will be required to cover strategies related to increasing low-cost deposits, raising capital, resolving bad loans, improvements in cybersecurity and financial outreach, the report added. Earlier this month, the finance ministry had directed PSBs … Continue Reading
Sabah Air Aviation needs to develop a robust business plan first before considering MASwings equity, says chairman Isna, June 27, 2024 KOTA KINABALU, Oct 29 — Sabah Air Aviation Sdn Bhd (SAASB) says it still needs to develop a robust business plan before it can explore the possibility of acquiring an equity of MASwings. Its chairman, Datuk Kenny Chua, said in a statement that while SAASB keeps a close eye on building a long-term cooperation with Sarawak’s Hornbill Skyways Sdn Bhd in the interest of the Borneo region, there are details that it still needs to iron out. “Firstly, I congratulate the Sarawak government for making a big step toward the acquisition of equity of MASwings. “The Sabah government certainly aims … Continue Reading
TIM shares rise 2.2% on integrated business plan – TopNews Isna, June 26, 2024 TIM shares rose by 2.2% to 0.227 euro per share in early trading on the Milan stock market on Monday after the Italian telecom giant confirmed its 2024-2026 guidance and integrated last Thursday’s market communication with data on expected cash flow. Following an extraordinary board meeting on Sunday TIM said it expected “its pro-forma net debt, after the Netco transaction, to be around 7.5 billion euros at the end of 2024” and “net cash flow to be around zero in 2025 and around 500 million euros in 2026, normalized to 800 million”. The company also said “any upside to the … Continue Reading
MUFG Establishes Business Plan for Next 3 Years, Aims to Increase ROE by 9% Isna, June 25, 2024 MUFG established a new medium-term business plan for the next three years “to pursue and produce growth” with an aim to increase ROE to approximately 9% by 2026. The medium-term business plan has three pillars, including expanding and refining growth strategies, driving social and environmental progress, and accelerating transformation and innovation. For the first pillar, the company has formulated seven strategies to achieve growth during the business plan period. “While seeking growth by further strengthening our existing business model, by for example increasing the profitability of our balance sheet with consideration for changes in the interest rate environment, we will … Continue Reading