Banking

  Bloomberg The Bank of Tanzania plans to be less accommodative for the remainder of the year to curb inflationary pressures. “At the backdrop of rising inflationary pressures, MPC approved Bank of Tanzania to reduce the speed of expanding liquidity in remainder of 2022,” Monetary Policy Committee said. in a statement following its latest meeting. That’s in order to tame ...

  Bloomberg Credit Suisse Group AG executives are discussing reducing thousands of roles globally as the struggling European lender seeks to slash its overall cost base by an additional $1 billion. The bank, which began trimming front line roles in Asia last month, is mulling an aggressive plan to reduce its headcount, which stood at 51,410 at the end of ...

Bloomberg India’s top mortgage lender Housing Development Finance Corp. (HDFC) said it has secured the world’s biggest social loan, a $1.1 billion facility to fund affordable residences, underscoring potential for sustainability-linked financing. The loan package has been priced at a margin of 90 basis points over secured overnight financing rate. MUFG Bank Ltd. was the lead social loan coordinator and ...

  Bloomberg UK lenders are expected to hike mortgage prices in quick response to the Bank of England’s decision to raise rates by the most since 1995, the latest headwind for the country’s slowing property market. “I expect we will see a raft of increases from lenders pretty speedily, often with little notice, in the coming days,” said Andrew Montlake, ...

  Bloomberg DBS Group Holdings Ltd, Singapore’s largest lender that has been investing in India, said buying a stake in government-owned IDBI Bank Ltd. is not on its radar, even though it remained bullish about country’s growth prospects. Chief Executive Officer Piyush Gupta said the lender isn’t looking at a deal for the bank. His comments come after Indian media ...

Bloomberg Credit Agricole SA’s corporate and investment bank helped the group soar above expectations in the second quarter after traders made double-digit gains during heightened volatility. The Paris-based bank said revenue at its CIB unit rises by more than a quarter to almost 2 billion euros ($2 billion), making it the busiest quarter on record. Underlying revenue from financing activities ...

  Bloomberg China’s banks face mortgage losses of $350 billion in a worst-case scenario as confidence plunges in the nation’s property market and authorities struggle to contain deepening turmoil. A spiralling crisis of stalled projects has dented the confidence of hundreds of thousands of homebuyers, triggering a mortgage boycott across more than 90 cities and warnings of broader systemic risks. ...

Bloomberg The Bank of England (BOE) this week is expected to push through the biggest interest-rate increase in 27 years and unveil its strategy for unwinding some of the £895 billion ($1.1 trillion) of stimulus it delivered over the past decade. The measures would accelerate a historic tightening of monetary policy to choke off the worst bout of inflation in ...

  Bloomberg Banks’ core business of lending has finally turned more profitable again, as the era of negative interest rates in the euro area comes to an end. The EU’s five biggest banks that have reported results so far showed an increase in net interest income of 3.74 billion euros ($3.82 billion) on the same quarter last year, a jump ...

  Bloomberg HSBC Holdings’s UK arm is the latest bank to help staff cope with the rising cost of living by making an extra one-time payment. Lower-paid employees will receive the £1,500 ($1,836) boost in their August paychecks, according to an internal memo seen by Bloomberg News. All five of the UK’s largest retail banks have now pledged to pay ...