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Top related persons:
Wise - 3 Harsh Sinha - 3 Kristo Kaarmann - 3 Kaarmann - 2 Sinha - 2 Taavet Hinrikus - 1 Jefferies - 1 Kristo - 1
Top related locs:
Kaarmann Estonia Ukraine Bank of England Abu Dhabi
Top related orgs:
Jefferies - 2 Customs - 2 Financial - 2 British - 1 London Stock Exchange - 1 OFSI - 1 Wise - 1 PayPal - 1

Search resuls for: "Harsh Sinha"


3 mentions found


☆ British fintech Wise reports 280% jump in profit as higher interest rates boost income
  + stars: | 2023-11-14 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
British fintech firm Wise nearly quadrupled pre-tax profits in its half-year results out on Tuesday, citing a boost from higher interest rates. Including interest income, the company's total income stood at £656 million for the period, up 58% year-on-year. Wise said that it benefited from higher interest rates, extending a trend from earlier this year where the company was pulling in extra income thanks to interest rate increases. The analysts added that the boost to Wise's results from higher interest income is a "welcome temporary compensation" for slowing core total processed volume, but noted it is "likely unsustainable." Harsh Sinha, Wise's technology chief, recently took the reins from Wise CEO Kristo Kaarmann at the firm's helm.
Persons: Wise, Harsh Sinha, Kristo Kaarmann, Taavet Hinrikus Organizations: British, Jefferies, London Stock Exchange Locations: Kaarmann, Estonia
☆ Fintech giant Wise allowed Russia sanctions target to withdraw money, U.K. government says
  + stars: | 2023-08-31 | by ( Ryan Browne | ) www.cnbc.com   time to read: +3 min
British financial technology giant Wise allowed an individual on the Russian sanctions list to withdraw money, a U.K. government body said Thursday. The user was allowed to make a withdrawal of £250 ($316.63) from a business account on Wise, according to the Office of Financial Sanctions Implementation. According to the OFSI, Wise reported a suspected sanctions breach on June 30, 2022. It's one of a rare number of cases of publicly disclosed breaches by a fintech company. Wise CEO Kristo Kaarmann was previously fined by Her Majesty's Revenue and Customs for failing to pay his taxes on time.
Persons: Wise, Kristo Kaarmann, Kaarmann, Harsh Sinha, Jefferies, Sinha, Kristo Organizations: OFSI, Customs, Financial, Wise, PayPal, eBay, Jefferies Locations: Ukraine
☆ Wise shares spike 18% as higher interest rates help fintech triple profits
  + stars: | 2023-06-27 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
Online money transfer firm Wise's shares soared nearly 18% Tuesday as the company reported a spike in profits thanks to rising interest income. The company said in a statement to the stock market that its profit before tax tripled to £146.5 million ($186.5 million). Wise benefited from surging interest rates, which last week were raised by the Bank of England to 5% as policymakers grapple with persistently high inflation. Like other fintechs, Wise has been able to accrue income from interest on funds sitting in customer accounts. Overall income reported by the firm rose to £964.2 million, up 73% year-on-year.
Persons: Wise, Kristo Kaarmann, Kaarmann, Harsh Sinha, Sinha Organizations: Bank of, Starling Bank, Customs, Financial, BBC Radio, BBC Locations: Bank of England, Abu Dhabi
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