News Briefs-(14-04-2018)

Southeast Bank inks deal with jadroo.com

An agreement was signed between Southeast Bank Limited and jadroo.com recently. Under the agreement, Southeast Bank credit card holders can avail zero per cent Equal Monthly Installment (EMI) facility up to 12 months on their purchase of home appliance. In presence of SM Mainuddin Chowdhury, Additional Managing Director, Southeast Bank; Md Abdus Sabur Khan, Head of Cards, Southeast Bank, and Mohd. Ghulam Sarwar, Deputy Managing Director & CFO of JadRoo Group, signed the agreement on behalf of their respective organisations.— Statement

Open Fiber enlists banks for $8.0b broadband rollout

MILAN, April 13: Italy's Open Fiber has enlisted banks to help fund the 6.5 billion euro ($8 billion) rollout of its fast broadband network, it said on Friday, confirming an earlier Reuters report. Rome has long pushed for an all-fibre optic network to help Italian business and boost productivity. Open Fiber said its network would cover 271 Italian cities and around 7,000 municipalities in the country. Open Fiber said it had signed the seven-year 3.5 billion euro project finance deal with BNP Paribas, Societe Generale and UniCredit and expects it to be finalised in the next few months. —Reuters

JPMorgan Chase sees higher profits

NEW YORK, Apr 13: JPMorgan Chase reported a jump in first-quarter earnings Friday, lifted by higher interest rates and revenue growth in core businesses. Net income for the first quarter was $8.7 billion, up 35.1 per cent from the year-ago period. Revenues increased 10.3 per cent to $28.5 billion. The biggest US bank by assets saw increases in revenues in all its major divisions due in large part to higher interest rates, which enabled JPMorgan to increase its profits from the spread between its deposits and loans. In corporate and investment banking, JPMorgan notched higher advisory fees, offsetting a drop in debt and equity underwriting fees. — AFP