| I(n)Trospection – the new business model?
Globally, banking as a segment has moved into the mainstream. As financial institutions and best practices gain importance in the region, there is a visible shift towards specialisation which has seen banks in the region transform operations in favour of commercial banking or opt to specialise on the fast growing, yet niche Islamic Finance business. Investments in IT and infrastructure are especially contributing to business growth, enabling customers to enjoying the benefit of improved services and faster delivery of banking products. The Islamic Finance market in particular has seen significant growth over the past few years. Having infused a culture of fresh thinking, its growth in the region has also made it necessary for banks offering Sharia-compliance products and services to constantly seek innovation.
Bankers see potential in women-owned businesses
Stephanie Zhang had an epiphany. "I was working in the cell phone store one day when I said to myself, 'I could own this place,'" said Zhang, who now owns not one but two wireless stores as president of Best Wireless in San Francisco. Like many entrepreneurs before her, she turned to family to help make her dream a reality. In this case, she accepted $20,000 from her father. She then turned to Wells Fargo Bank for small business banking services such as a company checking account. Zhang represents an important market segment that institutions such as Wells Fargo and Wachovia Bank are heavily courting with a range of such services. .
St George best business bank
ST GEORGE Bank has thrashed the majors in the business banking service ranks, particularly Commonwealth Bank of Australia (CBA), which continued to lag the pack, a survey says. Regional banks were rated better business bankers by their customers than the big four in a monthly survey for October of 850 customers by consultant East & Partners. On a scale from one to 10, the best ranked banks were the regionals, which were pooled together in the survey and received a collective score of 6.54. St George came second with a score of 6.05. National Australia Bank got the best score out of the majors of 5.61, while CBA came last with 4.14. "Arguably, these figures are fairly ordinary,'' East & Partners senior manager Robert Morgan said. "At the top end you've got 6.54, but that's only just over the medium point of five.'' Mr Morgan said the increasing competitiveness and complexity of business banking had made customers more discerning.
St George blitzes big banks
ST GEORGE Bank has thrashed the majors in the business banking service ranks, particularly Commonwealth Bank of Australia, a survey says. Regional banks were rated better business bankers by their customers than the big four in a monthly survey for October of 850 customers by consultant East & Partners. On a scale from one to 10, the best ranked banks were the regionals, which were pooled together in the survey and received a collective score of 6.54. St George came second with a score of 6.05. National Australia Bank got the best score out of the majors of 5.61, while CBA came last with 4.14. "Arguably, these figures are fairly ordinary,'' East & Partners senior manager Robert Morgan said. "At the top end you've got 6.54, but that's only just over the medium point of five.'' Mr Morgan said the increasing competitiveness and complexity of business banking had made customers more discerning.
BUSINESS IN BRIEF 21/11
The Phuong Nam Joint Stock Commercial Bank (Southern Bank) and a leading financial services company from the Republic of Korea on November 19 signed an agreement to work together to improve the financial activities of the local bank.
Seung Yu Kim, Hana's board chairman and chief executive officer, said Southern Bank had a strong network and excellent long-term strategies and objectives.
With a target to become a multifunctional financial group in Viet Nam and the region, Southern Bank wants to step up cooperation with local and foreign financial services giants, said a bank executive.
The bank's total asset values are 18 trillion VND (1.13 billion USD) on a gross outstanding debt of 4.74 trillion VND (296.3 million USD), with chartered capital of 1.29 trillion VND (80.6 million USD).
Banking on what really matters
If Welsh businesses ditched traditional accounting practices in favour of a more direct banker's analysis, they will not only be focusing on the numbers that really matter in their business, but also be able to make better, more strategic decisions says Nick Setchell, Vistage International (UK) IN today's society even the most basic items come packaged with masses of information. If you buy a mobile phone, for example, the booklet accompanying the phone often weighs more than the phone itself. Similarly when running a business, the amount of knowledge and know-how executives, managing directors and CEOs are expected to have mastered and be able to filter through to make effective decisions is incredible. It is not surprising that most managing directors and CEOs, who are expected to have an oversight of the vision and strategy, demonstrate strong leadership and motivation and understand the operations, do not have a strong financial background.
Two neighbors launch errand running service
ROCKTON - With an increasing number of errands to run, and dwindling time, neighbors Holly Fiorini and Ellen Pidde decided to launch an errand running business. They started 2nd Hands Errand Services in March."We knew there was a need in the area for our services. We know many are needing people to do their grocery shopping, especially the elderly," Fiorini said. "It only takes a phone call."After researching it and learning how more hospitals and corporations are hiring errand services, the two stay-at-home moms knew it was a slam dunk. The two women became fully insured and bonded to go into homes and help with errands.
.
|
