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Indian Oil Corp. said this week it has signed a contract to deploy ATMs at its petrol stations. The deal, signed with South Indian Bank Ltd., calls for the initial installation of 17 ATMs, with 50 total deployments by March, the petrol company says in a statement. The bank deploys 502 ATMs, of which 307 are located in bank branches, the statement says. Comments from the two organizations were not immediately available.
BayFirst Financial in St. Petersburg named veteran Tampa-area banker Al Rogers as its CEO and announced an $80 million capital raise. The bank sold its SBA-lending business last year, but it's still struggling to work through problems in its legacy loan portfolio.
San Diego County Credit Union won a court ruling that should help in its effort to get out of its deal to merge with a local competitor. A lawyer for SDCCU said he believes the judge's decision "signals the end of any merger between the two institutions."
The case exposes a systemic risk for banks: incident-response and ransomware-negotiation firms receive sensitive breach details that a corrupted insider can sell back to the attackers.
Miami's Ocean Bank appointed Yuni Navarro to its board of directors; Indiana-based Interra Credit Union announced it will acquire The Hicksville Bank in Ohio; JPMorganChase hired Chris Mihok from Keefe Bruyette and Woods; and more in this week's banking news roundup.
Even as they continue to press for additional changes, banks get some wins from the revised Basel capital framework and a ballpark estimate of their capital outlook for the next few years.
The B2B payments fintech contends the digital asset can wring inefficiencies out of corporate payments processing.
