Private bank

Private banks are banks owned by either an individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, the creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

These banks have a long tradition in Switzerland, dating back to at least the Revocation of the Edict of Nantes (1685). Private banks also have a long tradition in the UK where C. Hoare & Co. has been in business since 1672.

There were many private banks in Europe, but most have now become incorporated companies, so the term is rarely true any more. Today, the term "private bank" can also refer to the financial institution specializing in financial advice and services for high-net-worth individuals (private banking).

"Private banks" can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks, which were prevalent in communist, socialist and some social democratic states in the 20th century.

This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Private_bank

Latest News for: Private bank

Edit

SHB wants to be among top three private bank

Vietnam News 14 Nov 2018

Sài Gòn – Hà Nội Commercial Joint Stock Bank (SHB) has targeted becoming one of the three largest private joint stock banks in Việt Nam ... ....

Edit

IMF’s Lagarde Says It’s Time to Consider State-Issued Digital Currencies

Bitcoinist 14 Nov 2018

Head of the International Monetary Fund, Christine Lagarde, said that central banks should consider issuing state-backed digital currency ... She went on to consider the role of central banks in this new economic climate ... Central banks for back-end settlement, and private firms on client interface and innovation....

Edit

RBS appoints Alison Rose as deputy chief executive of ring-fenced business

Belfast Telegraph 14 Nov 2018

She will also continue in her current role as chief executive of RBS’s commercial and private banking business ... “Alison has been doing a fantastic job leading our commercial and private banking division and cementing our position as the UK’s biggest and best bank for business ... Mr McEwan previously said he wanted to see RBS back in private ownership....

Edit

IMF: Governments and Banks Should Setup and Control Their Own Cryptocurrencies

NewsBTC 14 Nov 2018

She added that a central bank regulated system could become the starting point for rapid expansion into developing economies, reaching some of the world’s poorest without the risks of privately managed blockchains and cryptocurrencies ... Lagarde added that the banks could take over ......

Edit

IMF says governments could set up their own cryptocurrencies

The Guardian 14 Nov 2018

Lagarde said central banks had to work quickly to establish digital cash for burgeoning networks of private financial transactions or risk their mushrooming into trading networks that were inherently unstable. A system regulated by central banks could become the basis for a rapid ......

Edit

RBS appoints Alison Rose as Ross McEwan’s deputy

Scotsman 14 Nov 2018

Rose will take up the role on 3 December in addition to her existing position as RBS's chief executive of commercial and private banking ... “Alison has been doing a fantastic job leading our commercial and private banking division and cementing our position as the UK's biggest and best bank for business....

Edit

Foreign Fund Managers Suffer Baptism of Fire in China

Caixin Online 14 Nov 2018

A private-banking manager with a midsize commercial lender told Caixin that banks tend to rule out cooperation with foreign fund management companies, especially those selling private funds, as they are small, lack a track record, and have little market recognition....

Edit

The European Announces its Award Winners for 2018

Market Watch 14 Nov 2018

Global Banking and Finance Awards ... Ade Adebiyi, Guaranty Trust Bank (SL) Ltd ... Al Ahli Bank of Kuwait. Best Retail Bank - Kuwait ... Best Private Banking Services - MENA ... Innovative Digital Private Bank of the Year - Spain ... Best Private Bank - Angola ... Customer Service Private Bank of the Year - Monaco ... Customer Service Private Bank of the Year - Portugal....

Edit

Cerberus in talks to take on $2.8 bln of NordLB's ship loans -sources

This is Money 14 Nov 2018

Bidders for a stake in the bank have been asked to submit final offers in late November, with public sector bank Helaba, Germany's second-largest listed lender Commerzbank and private equity investors including Cerberus, Apollo and Advent short-listed in the sale, people close to the matter have said....

Edit

IMF head says central banks should consider issuing digital currency

The National 14 Nov 2018

“Your deposits in commercial banks are already digital. But a digital currency would be a liability of the state, like cash today, not of a private firm,” said Ms Lagarde, suggesting that a state-backed token or account held by central banks could be available to people and firms for retail payments....

Edit

Closure of Kiwibank branch near Nelson a 'kick in the guts' for community

TVNZ 14 Nov 2018

The pair noted that in August, Minister Shane Jones was critical of privately owned Australian banks shutting branches in provincial areas and sought Reserve Bank intervention to maintain services. “Ministers cannot be critical of private banks closing branches when its own Kiwibank is doing the same,” they wrote....

Edit

World Bank: amending constitution over land is unnerving investors

Business Day 14 Nov 2018

‘‘If you create uncertainty of some aspects of your environment, and land tenure is one of them, that is one aspect that investors will be looking at,’’ Sérgio Pimenta, the vice-president for the Middle East and Africa at the International Finance Corporation (IFC), the World Bank’s private investment arm, told Reuters....

Edit

NBFCs face unforgiving bond market as volumes plummet

Live Mint 14 Nov 2018

It has been three months since a shadow banking behemoth-turned-defaulter and Indian private sector companies, including financiers, were trying hard to make bond investors trust them with money ... Private placements of debentures, the favourite mode of raising money for non-banking financial companies (NBFCs), became fewer and smaller in size, too....