iPhone Apps: Ally Mobile Banking, Tweetbot, iMariner Offshore
View Original ArticleTue, 01 May 2012 08:08:53 -0700 Ally Mobile Banking 1.0 (free) - Ally Bank has unveiled a new self-titled, banking tool for the iPhone, iPad, and iPod touch. With Ally Mobile Banking users can easily check account balances and view recent account activity while on the go.
Zimplats banking ban lifted
View Original ArticleWed, 30 May 2012 01:23:43 -0700 THE central bank has lifted its ban on Zimplats from using the local banking system after the company complied with an order to shift foreign accounts onshore.
View Original ArticleFri, 04 May 2012 04:28:12 -0700 Offshore bank statements in the name of Associate Defence Minister Julian Fantino are not authentic and the conflict of interest commissioner has informed Fantino she is dropping her investigation.
NZX follows offshore leads to rise
View Original ArticleMon, 28 May 2012 23:25:38 -0700 The New Zealand sharemarket rose today, following offshore leads across the Tasman and in Asia to shrug off the latest round of bad news out of Europe.
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Bank Start-up
Bank Startup Basics
Let's assume you raise $6 million in cash with help from other investors. That will be the bank's initial equity, the owner's stake. Next you obtain a charter, rent a building, furnish it with all the necessary equipment, hire and train a staff, and open your doors for business.
You'll need to deposit some of your initial funds into a correspondent bank. Those funds will be used to clear funds for your depositors. Let's assume initial expenses of $1.2 million. That leaves $4.8 million, of which you allocate $2 million to vault cash and $2.8 million to your correspondent bank's account.
Managing Loans and Other Investments
As your business develops, some customers will deposit their own money to open demand deposit accounts. Others will invest in your savings accounts and certificates of deposit (term loans) which must pay a competitive interest rate. Still others will seek loans from the bank. It is up to you to determine whether prospective borrowers are good credit risks, and will be able to pay the interest charges and return the principal on the specified date.
Accounting Needs
In managing your bank, you will need an accounting system to determine how your decisions are likely to affect the bank's profitability. The most important account is the balance sheet. This shows at any given moment, the bank's assets (what it owns), its liabilities (what it owes to others), and its net worth (what belongs to the owners). Net worth, or equity, is equal to assets minus liabilities. Your equity should remain positive and preferably growing. If it ever gets too low relative to total assets, your regulator may close the bank.
Balance Sheet and Earnings Forecasts
If your bank does well, the balance sheet will expand with new assets and liabilities. The equity should also increase, assuming you retain some of the profits in the bank rather than pay them all out as dividends to the owners.
