Banking

• Market analysts have identified nine top banking stocks to buy, citing strong fundamentals and positive earnings momentum across the sector. • Axis Bank is the top pick among the list, with analysts projecting a significant upside potential of 27.46%. • Other recommended stocks include major institutions such as ICICI Bank, State Bank of India (SBI), and Canara Bank.

• Revolut has secured a French banking licence, establishing its second EU banking hub to expand its operational capabilities. • The licence allows the fintech giant to offer lending and savings products, initially to French customers before expanding to Germany, Ireland, Italy, Portugal, and Spain. • CEO Nik Storonsky stated that France serves as a critical financial hub to support the company's 30 million customers across Western Europe.

• Revolut has secured a full French banking licence, marking its second full banking license within the European Union. • The fintech will use France as a Western European banking hub, transitioning operations there first before expanding to Germany, Ireland, Italy, Portugal, and Spain. • This strategic move establishes a dual-hub model, with Lithuania continuing to serve as the hub for the remaining European Economic Area markets.

• On August 7, 2026, the Indian stock market ended its two-day recovery as the Sensex fell 456 points and the Nifty 50 slipped. • The decline was primarily driven by weakness in banking and financial stocks, alongside concerns over elevated crude oil prices and regulatory issues for NBFCs. • Broader investor sentiment was weighed down by ongoing geopolitical tensions in the Middle East, mirroring a mixed performance across Asian markets.

• August features several critical financial deadlines and updates, including the August 31 deadline for filing Income Tax Returns (ITR). • The Reserve Bank of India's Monetary Policy Committee (RBI-MPC) met from August 3 to August 5 to decide on the repo rate, with economists expecting it to remain unchanged. • Other significant regulatory updates for the month include changes to Sebi trading rules and the implementation of CKYC 2.0.

London-based company to sell local loan portfolio to Blackstone, but will continue private and institutional banking servicesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe London-headquartered HSBC is closing all Australian branches over the next 18 months after selling its local mortgage and personal loan portfolio to global asset giant Blackstone.The transaction will end HSBC’s decades-long retail presence in Australia, although it will continue to operate private and institutional banking services, the company said on Friday. Continue reading...

• Westpac Banking Corporation (ASX:WBC) has seen its stock price advance, driven by overall strength within the financial sector. • Investors are currently focusing on the bank's credit quality, loan impairment levels, and capital strength to gauge the health of its loan book. • The stock's performance remains sensitive to macroeconomic factors, including global risk sentiment, currency fluctuations, and central bank interest rate decisions.