financial companies – Save Western OH http://savewesternoh.org/ Wed, 02 Mar 2022 09:14:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://savewesternoh.org/wp-content/uploads/2021/08/cropped-icon-32x32.png financial companies – Save Western OH http://savewesternoh.org/ 32 32 Top 10 finance companies in India https://savewesternoh.org/top-10-finance-companies-in-india/ Thu, 24 Feb 2022 14:52:06 +0000 https://savewesternoh.org/top-10-finance-companies-in-india/ Non-bank financial Companies.Companies which actually facilitate financial and banking facilities rather than meeting banking standards. Let’s now discover the Top 10 Finance Companies in India.]]>

Non-bank financial Companies.Companies which actually facilitate financial and banking facilities rather than meeting banking standards. Let’s now discover the Top 10 Finance Companies in India.

    Top 10 Finance Companies in India-TeluguStop.com

1- Bajaj Finance Limited: Bajaj Finance Limited is a subsidiary of Bajaj FinServe Limited, established in 2007. Its head office is in Pune. This society.

Provides loans, general insurance, consumer credit and commercial loans to small and medium-sized enterprises (SMEs).2- Tata Capital Financial Services Limited: Tata Capital Limited is a provider of financial services and investment in IndiaThe Mumbai-based company offers consumer loans, wealth management, trade finance, infrastructure finance, and more.

Company. A subsidiary of Tata Sons Limited. It was founded in 2007.

3- Aditya Birla Finance Limit: Aditya Birla Finance Limited is part of Aditya Birla Financial Services. It was merged in 1991.

4-L & T ఫైనానఫైనానసస: L & T ఫైనానఫైనానసస లిమిటెడలిమిటెడ 1994 లోలోథాపించబడిందిథాపించబడింది. Headquartered in Mumbai.

It provides financial services to various sectors such as agriculture, commerce and industry.

5- ముతముతతూటతూట ఫైనానససస లిమిటెడలిమిటెడ: ఇది భారతదేశపుభారతదేశపుటమొదటి NBFC సంససంసథ. Its history dates back to 1888.Muthoot Finance Limited offers loans only on gold jewelry.

6- Mahindra & Mahindra Financial Services Limited: Launched in January 1991 as Maxi Motors Financial Services Limited. Mahindra Mahindra Financial Services Limited is a non-banking rural financial company headquartered in Mumbai. 7- HDB Financial Services: HDB Financial Services is managed by HDFC Bank.

Provides secured and unsecured financial loans. Recognized as one of the fastest growing financial companies in the India.8- Power Finance Corporation Limited: Founded in 1986, Power Finance Corporation Limited provides financial assistance to various energy projects in the country.

9- Shriram Transportation Finance Company Limited: Founded in 1979, the company specializes in general insurance, mutual funds, pooled assets, securities brokerage and general protection.10- Cholamandalam Investment and Finance Company: Cholamandalam Investment and Finance The company was established in 1978 as an equipment finance company as part of the financial services division of the Murugappa Group. Provides services as a financial service provider – Top 10 Finance Companies In India Telugu title: – Telugu News #TeluguNews #TeluguBreaking #Telugu #TeluguStop | Telugu News #Mahindra #Tata #Bajaj #AdityaBirla #Birla#India #TeluguNews #TeluguNewsVideos Channel:Telugu News

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Video: Top 10 Finance Companies in India, Finance Companies, India, Bajaj Finance Limited, Tata Capital Financial, Muthoot Finance Limited, Mahindra Financial Services Limited, Mahindra Finanace #TeluguStopVideo

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“Putting ESG data to work” – How financial firms can optimize this rich new investment resource https://savewesternoh.org/putting-esg-data-to-work-how-financial-firms-can-optimize-this-rich-new-investment-resource/ Thu, 10 Feb 2022 13:25:19 +0000 https://savewesternoh.org/putting-esg-data-to-work-how-financial-firms-can-optimize-this-rich-new-investment-resource/ By Martijn Groot, VP Marketing and Strategy, Alveo The ESG market is on a strong upward trend, with global assets expected to reach $53 trillion by 2022, according to analysis by Celent. ESG data has come to the fore due to changing investment trends and new disclosure requirements coming soon. Depending on the investment style, […]]]>

By Martijn Groot, VP Marketing and Strategy, Alveo

The ESG market is on a strong upward trend, with global assets expected to reach $53 trillion by 2022, according to analysis by Celent. ESG data has come to the fore due to changing investment trends and new disclosure requirements coming soon.

Depending on the investment style, ESG information plays a key role in research, fund product development, external manager selection, asset selection, performance monitoring, client and regulatory reporting. In short, ESG data is needed throughout the chain and must be made available to stakeholders throughout the investment process.

The ESG data landscape:

In this context, the challenge for financial companies is how to harness ESG data and make it more actionable today? The first step on the road is to understand today’s complex and varied ESG landscape. It is a landscape that can be subdivided into three main sub-categories:

Corporate Disclosures: These can be found in the annual report or in specific sustainability information. or are reported via questionnaires sent to companies by companies collecting primary data such as Morningstar and Sustainalytics

ESG ratings: These are essentially expert opinions on the ESG characteristics of companies, given by third parties. Companies involved include RepRisk, Arabesque and MSCI

Sentiment data. These are summary scores based on how a company is portrayed in the news and other publicly available data. Companies involved include Truvaluelabs (FactSet) and Orenda.

ESG information should be standardized, to be able to aggregate company information into portfolio-level information, track ESG criteria against third-party indices, or for external reporting requirements. Companies will also need to develop benchmarks to show: the fund’s performance in terms of ESG criteria relative to the wider industry and relative to competing funds (with a similar risk profile) and the fund’s historical performance in terms of terms of ESG criteria.

Operationalization of ESG data

Data management practices typically begin with improvisation using desktop-level tools, including spreadsheets and local databases. This is gradually being streamlined, centralized, operationalized and integrated into core processes to become business-as-usual (BAU). When it comes to managing ESG data, the investment management industry is in the middle of this process.

Yet today, ESG data quality issues often prevent effective integration into the end-to-end investment operation. Businesses will need to look to solutions that incorporate dashboards that show the provisioning, processing, and completion status of data requirements, as well as an overview of data quality metrics and lineage. complete to show where the declared data fields come from.

Preparation and governance

When it comes to data management and reporting, asset managers must not only meet their own disclosure requirements, but also the data and reporting requirements of their institutional investors. New ESG disclosure requirements lead to increased trade barriers and competition in the asset management industry. Being ahead of the ESG regime adaptation curve requires early operational readiness across the entire value chain by addressing key decision points around operating model and governance, target data and system architecture and effective implementation.

A clear data ownership framework is essential to lay the foundation for a more detailed description of the operating model and data architecture. With respect to ESG data, the data owner has several roles:

  • Guarantee the quality and integrity of ESG data
  • Specification of workflows for exporting and distributing data via interfaces to the front, middle and back office
  • Authorization to publish data or set restrictions on authorized data recipients.

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List of Top 10 Finance Companies in India https://savewesternoh.org/list-of-top-10-finance-companies-in-india/ Wed, 02 Feb 2022 15:50:00 +0000 https://savewesternoh.org/list-of-top-10-finance-companies-in-india/ Top 10 finance companies in India: Non-Banking Financial Companies (NBFCs) are institutions that facilitate financial and banking facilities without actually meeting the criteria of a bank. These institutions are regulated by the central bank and play a vital role in the economic growth of a country. Here is the list of top finance companies in […]]]>

Top 10 finance companies in India: Non-Banking Financial Companies (NBFCs) are institutions that facilitate financial and banking facilities without actually meeting the criteria of a bank. These institutions are regulated by the central bank and play a vital role in the economic growth of a country.

Here is the list of top finance companies in India.

1- Bajaj Finance Limited: Founded in 2007, Bajaj Finance Limited is a subsidiary of Bajaj Finserv Ltd. Its head office is in Pune. The company is involved in loans, general insurance, consumer credit, small and medium enterprises (SMEs), commercial loans and wealth management.

2- Tata Capital Financial Services Ltd: Tata Capital Limited is a financial and investment services provider in India. The Mumbai-based company offers consumer loans, wealth management, trade finance, infrastructure finance, among others. The company is a subsidiary of Tata Sons Limited and was established in 2007.

3- Aditya Birla Finance Ltd: Aditya Birla Finance Limited is part of Aditya Birla Financial Services. It was incorporated in 1991 and offers precise and personalized solutions ranging from corporate finance to commercial mortgage lending, and from capital markets to structured finance.

4-L & T Finance Limited: L&T Finance Limited was established in 1994 and is headquartered in Mumbai. It offers financing services to different sectors such as agriculture, trade, industry.

5- Muthoot Finance Ltd: It is India’s first NBFC institution and its history dates back to 1888. Muthoot Finance Ltd only lends against gold ornaments and offers foreign exchange services, money transfers, wealth management, travel and tourism services.

6- Mahindra & Mahindra Financial Services Limited: Established in January 1991 as Maxi Motors Financial Services Limited, Mahindra & Mahindra Financial Services Limited is a non-banking rural financial company headquartered in Mumbai. It is among the leading tractor lenders in India and offers gold advances, working capital advances and ventures among others.

7- HDB Financial Services: HDB Financial Services is operated by HDFC Bank and offers secured and unsecured financial loans. It operates through Lending Business and BPO Services segments and is considered one of the fastest growing financial companies in India.

8- Power Finance Corporation Limited: Founded in 1986, Power Finance Corporation Limited provides financial assistance to different power projects in the country and supports organizations involved in the generation, transmission and distribution of electricity.

9- Shriram Transport Finance Company Limited: Founded in 1979, the company specializes in general insurance, mutual funds, common property, brokerage and general protection. The Company focuses, among other things, on the financing of commercial and commercial vehicles.

10- Investment and financing company of Cholamandalam: Cholamandalam Investment and Finance Company started as an equipment finance company in 1978 as a financial services arm of Murugappa Group and snowballed into a financial services provider.

Read also | Budget 2022-2023: List of major announcements related to the agricultural sector

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Housing finance companies: HFCs expected to post strong loan growth in Q3, other NBFCs may have a harder time https://savewesternoh.org/housing-finance-companies-hfcs-expected-to-post-strong-loan-growth-in-q3-other-nbfcs-may-have-a-harder-time/ Fri, 07 Jan 2022 08:00:00 +0000 https://savewesternoh.org/housing-finance-companies-hfcs-expected-to-post-strong-loan-growth-in-q3-other-nbfcs-may-have-a-harder-time/ Mumbai: Non-Banking Financial Companies (NBFCs) are expected to post mixed results in the December quarter overall, analysts say. Home finance companies (HFCs) are expected to post strong loan growth, driven by housing demand, while earnings from vehicle finance companies are expected to be subdued due to slow passenger vehicle sales. Microfinance companies, on the other […]]]>
Mumbai: Non-Banking Financial Companies (NBFCs) are expected to post mixed results in the December quarter overall, analysts say.

Home finance companies (HFCs) are expected to post strong loan growth, driven by housing demand, while earnings from vehicle finance companies are expected to be subdued due to slow passenger vehicle sales. Microfinance companies, on the other hand, will be hit by slower collection efficiency, they said.

HFCs, led by HDFC, will continue to outperform as robust loan growth was also supported by improved collection efficiency, analysts said. However, microfinance will continue to face challenges. “Microfinance collection efficiency has been volatile and is likely to be affected due to a resurgence of Covid-19 infections. Some lenders may choose to cancel some old loans during the quarter, which could impact provisions,” said Shreepal Doshi, an analyst at Equirus Securities.

Vehicle finance companies could be hit by weak sales as business volumes in passenger vehicles were hit by chip shortages in the third quarter. “Although medium and heavy commercial volumes have recovered, lenders expect a strong improvement from FY23. Used commercial vehicle disbursements remained at similar levels to the second quarter. Demand for commercial vehicles has improved, but is still far from pre-19 levels,” Motilal Oswal analysts said in a briefing note. With HFCs, Motilal Oswal expects a strong recovery in consumer lending, in line with the recovery in economic activity. He expects Bajaj Finance’s new loan bookings to increase 13% in the quarter, with a reduction in excess liquidity and no significant cancellation of interest income contributing to margins.

Kotak Institutional Equities expects disbursements to be strong for most housing finance companies in the quarter ended Dec. 31, despite weak overall volumes during the holiday season.

Gold lenders are expected to report strong assets under management due to increased footfall, better promotions and high gold prices.

However, even though recoveries have improved due to the easing of restrictions, analysts will remain alert to any impact of stricter asset recognition standards for NBFCs. In November, the Reserve Bank of India instructed NBFCs to move to a daily classification of NPAs from the month-end classification followed by many NBFCs.

Additionally, accounts cannot be upgraded to standard unless dues are fully recovered. These changes bring the asset classification rules of NBFCs in line with those of banks and are likely to increase the non-performing assets (NPA) of these entities.

The central bank also announced new standards for stricter supervision of NBFCs under which these entities will face restrictions on activities if certain parameters such as NPAs and capital adequacy are breached.

These standards will be effective from October 2022 and NBFCs will need to prepare to implement them.

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8th National E-Summit on Non-Bank Financial Companies and Infrastructure Finance https://savewesternoh.org/8th-national-e-summit-on-non-bank-financial-companies-and-infrastructure-finance/ Tue, 21 Dec 2021 08:00:00 +0000 https://savewesternoh.org/8th-national-e-summit-on-non-bank-financial-companies-and-infrastructure-finance/ 8th National E-Summit on Non-Bank Financial Companies and Infrastructure Finance The 8th National Electronic Summit on Non-Banking Financial Companies and Infrastructure Financing will be organized by ASSOCHAM on December 23, 2021 in virtual mode. Non-Banking Financial Companies (NBFCs) play a crucial role in the economy as they provide credit to Micro, Small and Medium Enterprises […]]]>
8th National E-Summit on Non-Bank Financial Companies and Infrastructure Finance

The 8th National Electronic Summit on Non-Banking Financial Companies and Infrastructure Financing will be organized by ASSOCHAM on December 23, 2021 in virtual mode. Non-Banking Financial Companies (NBFCs) play a crucial role in the economy as they provide credit to Micro, Small and Medium Enterprises (MSMEs).

Why participate?

  • NBFCs also provide credit to consumers and others in the unorganized sector in an organized and systematic manner. As specialized financial institutions, they have unique assessment methods and better coordination and collection mechanism to deal with customers, unlike banks.

  • Infrastructure is a catalyst for growth and the way forward for infrastructure finance in India looks promising despite the macroeconomic headwinds. India’s ambition to maintain its relatively high growth depends on one important factor: infrastructure. Several alternatives and avenues of long-term financing are explored in addition to traditional sources.

  • Keeping these imperatives in mind, the Department of Banking and Financial Services of ASSOCHAM is organizing the 8th National Summit of Non-Banking Financial Companies & Infrastructure Financing of ASSOCHAM “Transforming the financial lending landscape”.

  • The result of this effort will be an increase in confidence, affordability and accessibility in the financial lending industry and market. The main guests of the event are Shri Jayant Sinha; Honorable Member, Parliament and Chairman, Parliamentary Standing Committee on Finance and Special Speech will be delivered by Shri S Raman, CMD, Small Industries Development Bank of India, Shri Ajit Pai; Distinguished Expert in Economics and Finance, NITI Aayog, Shri Ashok Soni; Executive Director, Pension Funds Regulatory and Development Authority

For further details, please contact:

Event name:8th National E-Summit on Non-Bank Financial Companies and Infrastructure Finance
Website: https://www.assocham.org/
Dated: December 21, 2021

ASSOCHAM

Address: 4th Floor, YMCA Cultural Center and Library,
01, Jai Singh Road, New Delhi – 110001
Mobile:
08447365357
E-mail: Kushagra.joshi@assocham.com

Registration link:
https://bit.ly/3e5tt8k

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srei: Lenders of Srei’s two financial firms seek group resolution https://savewesternoh.org/srei-lenders-of-sreis-two-financial-firms-seek-group-resolution/ Fri, 03 Dec 2021 08:00:00 +0000 https://savewesternoh.org/srei-lenders-of-sreis-two-financial-firms-seek-group-resolution/ [ad_1] MUMBAI: The creditors of the two Srei group financial companies that are the subject of bankruptcy proceedings are considering a group approach to insolvency resolution. Such an approach should achieve faster results and better value for the banks to which SREI companies owe money. Last month, RBI replaced the board of directors of Srei […]]]>


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MUMBAI: The creditors of the two Srei group financial companies that are the subject of bankruptcy proceedings are considering a group approach to insolvency resolution. Such an approach should achieve faster results and better value for the banks to which SREI companies owe money.
Last month, RBI replaced the board of directors of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL).
According to initial estimates, the top ten lenders Canara Bank, PNB, UBI, SBI, BoB, Indian Bank, P&S Bank, Central Bank and BOI – together account for over Rs 20,000 crore of a consolidated loan of Rs 31,527 crore between SREI and SEFL. This would give them 65% of the voting rights if the receivables were consolidated. According to the memo, there wouldn’t be much variation in the voting rights of the top 10 lenders if a group approach were taken.
Bankers said that various investments in connected entities and their other issuing companies, viz. Bharat Road Network, Trinity, Power Trust (which may have equity value in the future) are hosted in SIFL while exposure to these entities is partly through SEFL; thus, dissociating the two entities would hamper the objective of maximizing value if resolution requesters were not authorized to access the synergies between the various companies of the group.
Incidentally, before the board of directors was replaced, Srei’s promoters had sought to consolidate the two companies by transferring the business from Srei Equipment to Srei Infra through a business transfer agreement. However, the proposal was rejected by the lenders.
The administrator, however, pointed out in his memo that a group resolution is different from the business transfer plan proposed by the promoters as the rights of individual creditors to their secured assets would be retained. In addition, the creditors’ committee, which is exposed to both companies, will have a say in the allocation of assets and can ensure that the rights of those who hold specific collateral are protected.
In addition, EY, which has been mandated by the company to help with consolidation, continues to assist the company led by the director in adopting the group approach.
Group resolution is useful in a situation where the liability belongs to one company while the value resides in other companies. A similar group resolution approach was taken successfully in IL&FS where a significant portion of the liabilities were with the parent company and other holding companies where the assets were in 300 companies.

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Warren Buffett’s firm cuts stakes in drugmakers and finance companies https://savewesternoh.org/warren-buffetts-firm-cuts-stakes-in-drugmakers-and-finance-companies/ Mon, 15 Nov 2021 08:00:00 +0000 https://savewesternoh.org/warren-buffetts-firm-cuts-stakes-in-drugmakers-and-finance-companies/ [ad_1] OMAHA, Neb. – Investor Warren Buffett’s company made two new investments in the third quarter while reducing its holdings in several drugmakers and financial companies. Berkshire Hathaway Inc. BRK.B, + 0.25% updated its holdings of shares in a quarterly filing with the Securities and Exchange Commission on Monday. The reports are closely watched by […]]]>


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OMAHA, Neb. – Investor Warren Buffett’s company made two new investments in the third quarter while reducing its holdings in several drugmakers and financial companies.

Berkshire Hathaway Inc. BRK.B,
+ 0.25%
updated its holdings of shares in a quarterly filing with the Securities and Exchange Commission on Monday. The reports are closely watched by many investors due to Buffett’s decades-long track record.

The Omaha, Nebraska-based conglomerate said its latest holdings included $ 475 million in shares of Royalty Pharma RPRX,
+ 0.71%,
which invests in drug development, then collects royalties on prescription drugs, and an additional $ 100 million from FND shares of specialty flooring retailer Floor & Decor Holdings,
-0.12%.

In addition to these two new investments and a decision to increase its stake in Chevron CVX,
-0.33%,
all of Berkshire’s other moves during the quarter reduced its investments in an assortment of companies. But Buffett made no changes to Berkshire’s bigger investments in Apple AAPL,
+ 0.30%
and Bank of America BAC,
+ 0.08%
Stock.

Buffett and other Berkshire officials do not comment on these quarterly stock filings, and the reports are unclear whether either of the firm’s other two investment managers played a role in the moves. Buffett typically manages all of the largest investments in Berkshire’s portfolio that are worth over $ 1 billion each, such as long-standing holdings in Coca-Cola KO,
-0.20%
and American Express AXP,
+ 0.81%
Stock.

Along with Chevron, Berkshire bought nearly 5.6 million shares to replenish some of the investment it sold in the first half of this year, but Berkshire’s current $ 2.9 billion investment in The oil giant is still below Chevron’s $ 4.1 billion stake it established late last year.

During the third quarter, Berkshire sold its investments in Merck MRK,
+ 0.12%
and its spin-off Organon & Co. OGN,
+ 2.18%.
It also reduced its stakes in drugmaker Abbvie ABBV,
+ 0.34%
and Bristol-Myers Squibb BMY,
+ 0.63%.
But he maintained his investment of around $ 400 million in Teva Pharmaceuticals TEVA,
-3.56%.

Berkshire has also reduced its investments in Visa V,
+ 0.16%
and Mastercard MA,
+ 0.55%
and cut his US Bancorp USB,
+ 0.24%
bet during the quarter.

Besides investments, Berkshire owns more than 90 companies, including the BNSF Railway, Geico Insurance and several large utilities. The conglomerate also owns manufacturing, furniture, footwear, jewelry, chocolate, underwear and brick businesses.

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Percent Launches Synchronization Platform for Specialty Finance Companies, Further Revolutionizing the Way Businesses Raise Debt Capital https://savewesternoh.org/percent-launches-synchronization-platform-for-specialty-finance-companies-further-revolutionizing-the-way-businesses-raise-debt-capital/ Wed, 13 Oct 2021 12:00:00 +0000 https://savewesternoh.org/percent-launches-synchronization-platform-for-specialty-finance-companies-further-revolutionizing-the-way-businesses-raise-debt-capital/ [ad_1] The platform, designed for disruptors and innovators of alternative lending, is the first of its kind in a multi-trillion dollar industry Posted: October 13, 2021 at 8:00 a.m. EDT NEW YORK, October 13, 2021 / PRNewswire / – Percent, the capital markets platform transforming a multi-trillion dollar lending industry, announces the launch of its […]]]>


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The platform, designed for disruptors and innovators of alternative lending, is the first of its kind in a multi-trillion dollar industry

Posted: October 13, 2021 at 8:00 a.m. EDT

NEW YORK, October 13, 2021 / PRNewswire / – Percent, the capital markets platform transforming a multi-trillion dollar lending industry, announces the launch of its comprehensive Sync platform to further accelerate the growth of lenders and corporations most innovative fintech financing today as they continue to disrupt the industry.

For more information, visit the Percent website at www.percent.com

After raising $ 12.5 million in a Series A financing last April as part of a round co-led by White Star Capital and B Capital Group, the three-year capital markets infrastructure provider has channeled its efforts into creation of Sync, a complete and unique software and a suite of services for specialized financial companies. Sync Launch Reflects Percent’s Recent Success In Helping First-Time Institutional Issuers Secure $ 284 million in finance, providing the same unprecedented access and set of tools to the entire private lending industry on a revolutionary open platform.

“Since launch, we have listened to our initiating partners on the types of tools and technologies that would best serve as a catapult for growth,” says Nelson chu, Founder and CEO of Percent. “Synchronization is our answer. Specialty finance companies are the heart and soul of our business, and we’re excited to now offer this transformational product designed with features to solve the key issues lenders face throughout their lives on debt capital markets. “

The launch of Sync enables fintech lenders of any size on Percent’s platform to raise the most flexible debt capital at low cost through dynamic market pricing and standardized terms. In a multibillion-dollar industry plagued by inefficiencies, Percent and its Sync platform are setting the benchmark for streamlining the growing non-bank lending space.

“Sync was developed to give our partners transparent access to a wealth of market data on the pricing of other transactions and the true market demand for their assets,” says Gary reifman, Percent Product Manager. “At the same time, they can also use the platform to raise debt capital and scale those issues with ease. Lenders can now monitor their order book build-up in real time, capitalize on Percent’s bespoke workflow tools to ensure full compliance of all market players, and grow their team with the power of the best team. of Percent Capital Markets. “

About Percentage

Percent is a global leader in financial infrastructure solutions. Founded in 2018, the company leverages proprietary technologies, integrations and data to bring unparalleled transparency and efficiency to lenders and credit transactions. Percent’s innovative ecosystem enables lenders of all sizes to raise the most flexible loan capital at low cost through dynamic market pricing and standardized terms. To date, its platforms have supplied more than $ 600 million in transaction volume in a multi-trillion dollar loan market.

For more information, visit the Percentage website, and follow the company on Instagram, LinkedIn and Twitter.

Media contact:
Victoria Castelbuono
percentage@jconnelly.com
973-590-9314

View original content to download multimedia:

SOURCE Percent

The above press release has been provided courtesy of PRNewswire. The views, opinions and statements contained in the press release are not endorsed by Gray Media Group and do not necessarily state or reflect those of Gray Media Group, Inc.


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More financial companies share their information to fight cybercrime https://savewesternoh.org/more-financial-companies-share-their-information-to-fight-cybercrime/ Mon, 27 Sep 2021 07:00:00 +0000 https://savewesternoh.org/more-financial-companies-share-their-information-to-fight-cybercrime/ [ad_1] The growing threat of cybercrime has prompted financial companies to increase intelligence sharing by 60%, new research finds. According to the cyber-espionage group of the cyber intelligence services FS-ISAC, the growth was observed among its member firms between August 2020 and August 2021. The increase occurred in all regions, including North America, Europe and […]]]>


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The growing threat of cybercrime has prompted financial companies to increase intelligence sharing by 60%, new research finds.

According to the cyber-espionage group of the cyber intelligence services FS-ISAC, the growth was observed among its member firms between August 2020 and August 2021. The increase occurred in all regions, including North America, Europe and the United Kingdom.

The company claimed the increase was due to supply chain and ransomware threats, as well as several large-scale and high-profile attacks.

“With the increase in sophisticated cross-border cybercrime campaigns against the financial industry and its supply chain, global industry-wide collaboration has become a risk management imperative,” said Steven Silberstein, CEO of FS-ISAC .

“The sharing of information and best practices within our community and across our platforms has reached new heights, driven by the high profile events of the past 12 months. We applaud those members who go above and beyond to protect the financial system as a whole. “

In addition to helping detect and prevent cyberattacks, FS-ISAC noted that sharing by large market-based financial institutions with stricter and more comprehensive regulation helps strengthen the cybersecurity programs of smaller companies. or less endowed with resources from around the world, for the benefit of the entire financial ecosystem.

“American Express is deeply interconnected with other players in the global financial system,” said Fred Gibbins, chief information security officer at American Express.

“We believe it is our core responsibility to share information and best practices with our peers to help the industry protect and defend against emerging cyber threats. “


advised


The threat posed by cyber attacks has increased dramatically in recent years. A report warned that there had been a 485% overvoltage in ransomware attacks in 2020. And another said the UK has been hit by 14.6 million ransomware attacks so far this year.

The cybercrime industry has also matured, with knowledgeable and skilled players using proven tools. They are increasingly targeting large organizations looking for big salaries, putting financial institutions in the crosshairs.

All of this means that cybersecurity is a growing concern for financial services. The average bill for a victim of a ransomware attack in the financial industry is now around $ 2 million. This is in addition to the reputational damage caused by data exfiltration.

With companies awarding greater resources To fight cybercrime, intelligence coordination makes it possible to defend effectively against cybercrime, while reducing costs.

“Meaningful threat intelligence gives our security team at IAG an edge over attackers and reduces cyber risk,” said Threat Analytic Cell Manager at IAG Craig Hall.

“Recently we were able to identify a threat actor who methodically attacked Australian financial institutions in alphabetical order throughout the day.

“By sharing the criminal’s tactics, members across the region knew when they were likely to be hit and were therefore able to defend themselves against attack. “


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LOLC’s future holding company of financial companies to raise Rs. 1b via listed debt https://savewesternoh.org/lolcs-future-holding-company-of-financial-companies-to-raise-rs-1b-via-listed-debt/ https://savewesternoh.org/lolcs-future-holding-company-of-financial-companies-to-raise-rs-1b-via-listed-debt/#respond Sun, 26 Sep 2021 22:33:00 +0000 https://savewesternoh.org/lolcs-future-holding-company-of-financial-companies-to-raise-rs-1b-via-listed-debt/ [ad_1] LOLC Ceylon Holdings Ltd. (LOCH) will issue 10 million debentures of Rs. 100 each to increase Rs. 1 billion. The debentures offer 9.50% per annum payable annually. The minimum subscription is Rs. 10,000. The managers of the issue are Capital Alliance Partners Ltd. Depending on the allocation basis, the number of debentures to be […]]]>


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LOLC Ceylon Holdings Ltd. (LOCH) will issue 10 million debentures of Rs. 100 each to increase Rs. 1 billion.

The debentures offer 9.50% per annum payable annually. The minimum subscription is Rs. 10,000. The managers of the issue are Capital Alliance Partners Ltd.

Depending on the allocation basis, the number of debentures to be allocated to one or more identified institutional investors of strategic and operational importance, preferentially or not, will not exceed 75% of the total number of debentures to be issued.

LOLC Holdings PLC (LOLC) has provided collateral up to Rs. 1.19 billion being the principal and two interest payments. LOLC owns a 55.54% stake in LOCH and the related party Commercial Leasing and Finance PLC owns 44.34%, making it a total control of 99.89%.

As part of the LOLC group’s overall strategy to attract investors to the large financial companies it has created, LOLC creates a platform allowing potential investors to acquire a minority stake in the financial companies it owns. LOLC believes that these large-scale foreign investors have the ability to help financial companies grow even further and provide even better service to clients by introducing the latest technology, technical know-how and employee training.

To this end, LOLC Holdings has appointed a wholly-owned subsidiary, LOLC Ceylon Holdings, to function as a platform and plans to list LOCH on the Colombo Stock Exchange. After LOCH listing, the shares held by LOLC in LOLC Finance PLC (LOFC) amounting to 44.79%, the shares held in Commercial Leasing and Finance PLC (CLC) amounting to 98.92% and the shares 55.55% held in LOLC Development Finance PLC (NIFL) are to be transferred to LOCH.

LOLC has stated that the Company Takeover and Mergers Code of 1995 (as amended) will not apply to the transfer of shares by LOLC to LOCH from LOLC shares in LOFC, CLC and NIFL.

The proceeds of an equity injection by the parent company, LOLC Holdings, will be used to purchase the shares of LOFC and CLC, subject to receipt of the relevant regulatory approvals (if any). SEC approval in principle and Central Bank no objection have been obtained for the transfers of LOLC shares.

The transfer of shares will take place as soon as LOCH becomes a listed entity.

An estimated time frame could be two weeks from the date on which LOCH becomes a listing entity, as all the regulatory approvals in principle required have been obtained. As this is an internal restructuring of the group, the transaction will be executed at market prices in effect on the date of the transfer, as an off-the-floor transaction.

The funds raised by the bond issue will be used to partially finance the acquisition of LOLC Holding’s stake in LOLC Development Finance (NIFL) within one month of the grant date. As of the date of the prospectus, LOLC Holdings PLC holds a 55.55% stake in NIFL.

The purchase price for the transfer of NIFL shares would be the last market price for NIFL shares in accordance with the requirements of the SEC in its approval in principle. The share transfer will be executed at the last traded price at the time of the share transfer.

Subject to receipt of relevant regulatory approvals, the amount of the purchase consideration balance at the time of acquisition is to be funded by LOLC Holdings through an equity injection into LOCH. The purchase price of the transaction will be the market price prevailing at the time of purchase of the shares.

During the interim period (date from fundraising until deployment through the purchase of NIFL shares), the company would choose to invest the debenture proceeds in government securities without risk of default until that the funds are fully utilized. Investment in government securities is expected to generate a return of 5% per annum at current rates.

In addition, LOCH has applied for SEC and Central Bank approval for the restructuring exercise or transfer of ownership from LOLC Development Finance PLC to LOLC Ceylon Holdings and SEC approval in principle and no objections. from the Central Bank was obtained to complete the restructuring provided. LOCH becomes a listed entity.

In the event that the Company does not use the funds for the stated purpose of issuing Debentures and proposes to use them for another purpose such a change will only be made after the Company announces it and received the necessary approvals from the authorities / parties concerned. The company also noted that LOLC Holdings is LOCH’s parent company.

However, if this product is used for a related party transaction, this will be done in accordance with Section 9 of the CSE Registration Rules.

LOCH will own 55.55% of the shares of NIFL after the equity injection. The acquisition of this stake will be partly financed by the proceeds of the bond issue and the remainder will be financed by the parent company, LOLC Holdings, via an equity injection.

The percentage of shares LOCH is to hold in NIFL after full use of the IPO debt cannot be determined at this time, as the purchase price for the transfer of NIFL shares would be executed at the last price. of the negotiated market at the time of the transfer of shares. The transfer of shares is expected to be completed within two weeks of the date on which LOCH becomes a listing entity.

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