Lending

The banks reported fiscal third-quarter results that topped analysts’ estimates on gains in domestic personal and business loans as well as continued strength in the Canadian housing market.

Year to date Mar. 31, 2021. Dollars in thousands.

Upgrade, a lending startup that counts former LendingClub executive Renaud Laplanche as a co-founder, raised $105 million in a funding round that values the company at more than $3.3 billion.

As tech giants rush into point-of-sale lending, the smaller companies that built the market are counting on acquisitions and partnerships with specialized vendors to defend their turf and pull in new borrowers.

Apple and Affirm's PayBright are planning to launch a buy now/pay later program for Apple device purchases in Canada, stepping up the iPhone maker’s ambitions to offer more financial services.

The $29 billion purchase of the Australian installment lender would bring larger retail relationships, as well as a fast-growing product that has appeal to both consumers and merchants.

The $29 billion deal would enable Square to better compete with PayPal and Apple, and provide an opportunity to cross-sell other services to the Australian lender's global audience.

Wintrust has developed a specialty financing insurance premium payments for companies and individuals while PacWest and Signature Bank are meeting strong demand for loans to venture funds that invest in technology firms.

On Mar. 31, 2021. Dollars in thousands.

The European Union’s planned Green Asset Ratio, intended to reveal how much a bank lends to climate-friendly companies and projects, will offer a distorted picture of reality, according to a Bloomberg survey of some 20 major European banks.