AGP Executive Report
Last update: 12 hours agoSanctions Shake-Up: The U.S. Treasury proposed revoking Banque Misr UAE’s correspondent banking access under “Operation Economic Outcast,” citing $1.8B processed for Iran-linked shadow banking networks; Banque Misr says it’s reviewing the notice while its UAE branch continues services under existing rules. Leadership Watch: HDFC Bank CEO Sashidhar Jagdishan will retire on Oct. 26 and the bank will fast-track his successor after he opted out of reappointment. Insolvency Fight: HDFC Bank is considering an appeal after NCLT approved a ₹6.5 crore repayment plan for Subhash Chandra’s personal insolvency, with Union Bank (UK) also planning to appeal; the reported recovery implies a near-total haircut for creditors. SME Banking Push: Kuwait’s National Bank of Kuwait (NBK) is expanding an integrated SME offering combining payments, financing, and day-to-day banking, including POS financing. Fraud & Consumer Risk: A Bhiwandi man allegedly lost ₹3.36 lakh in an online Bank of Baroda scam, while a separate case highlights how banks and fintechs are still grappling with fast-moving cyber threats. Digital Banking Growth: Southeast Europe lender Iute Group reported H1 gains and said it’s scaling its digital bank via apps that bundle loans, payments, deposits, and insurance.
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