Banking

  Bloomberg Banks in the world’s third-biggest polluting nation are poorly prepared to combat rising global warming risks, according to a new study by local research and advisory group Climate Risk Horizons. None of the 34 Indian banks surveyed in the report have a long-term net zero target year with an implementation plan covering so-called scope 1, 2 and 3 ...

  Bloomberg New Zealand’s central bank should continue with the swift normalisation of monetary policy to curb a growing inflation threat, according to the International Monetary Fund (IMF). “Given New Zealand’s strong cyclical position and inflationary pressures, significant increases in the official cash rate in the near term are appropriate,” the IMF said in the Concluding Statement of its Article ...

  Bloomberg Russia’s highly regarded central bank Governor Elvira Nabiullina sought to resign after Vladimir Putin ordered an invasion of Ukraine, only to be told by the president to stay, according to four people with knowledge of the discussions. Nominated for a new five-year term last week, Nabiullina’s current views couldn’t be learned. She is left to manage the fallout ...

  Bloomberg Argentina’s central bank raised its benchmark rate for the third time this year as the inflation continues to speed up. Officials increased the key, 28-day Leliq rate by 200 basis points to 44.5%, according to a statement. The announcement comes after President Alberto Fernandez declared a “war on inflation” last week, adding days later that the government will ...

  Bloomberg European bank regulators are set to start work later this year on adding climate-change risks to the framework for setting capital requirements, in a shift that would penalise lenders for failing to prepare for losses from extreme weather and the shift to clean energy. Several members of the European Central Bank’s (ECB) supervisory board say they expect to ...

  Bloomberg Citigroup Inc. is putting its waterfront Dublin office on the market, as the lender looks for a new location in the city. The six-storey building at 1 North Wall Quay in Dublin’s docklands is expected to fetch more than 120 million euros ($132 million), Knight Frank said in an emailed statement. The bank has occupied the 230,000 square ...

Bloomberg Thailand will bar the use of cryptocurrencies as a means of payments for goods and services, saying the wider use of digital assets threatens the nation’s financial system and economy. Business operators — including crypto exchanges — must not provide such payment services, and are barred from acting in a manner that promotes the use of digital assets to ...

  Bloomberg BNP Paribas is stopping all new business in Russia, joining European peers in winding down their local operations after the country invaded Ukraine. The Paris-based bank has informed its corporate clients that its local unit will no longer be able to process their transactions from the end of March, the bank said in an emailed statement. BNP Paribas ...

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda doubled down on his commitment to continue with stimulus even if inflation continues to accelerate, in a rebuttal of the need to join a global wave of central banks normalising policy. “We don’t know what April’s inflation rate may be, but there’s a possibility it’ll be around 2%,” Kuroda said, acknowledging ...

Bloomberg Deutsche Bank AG agreed to boost wages for 8,000 staff by 5.2% in two steps in a nod to accelerating inflation in Germany. The deal with unions representing employees at its Postbank retail unit was signed, the lender said in a statement. The bank will first raise wages for the covered staff by 3.1% in June and then by ...