Banking

  Bloomberg Banco Santander SA is planning to simplify the structure of its US operations by discontinuing businesses such as home loans and focusing on consumer lending. Spain’s biggest bank may also review some of its commercial and industrial business lending, it said in a presentation. Santander has been pivoting towards areas with scope for more profitable growth in the ...

  Bloomberg State Bank of India’s (SBI) profit rose 62% in the third quarter helped by strong lending as the pandemic eased. Net income at the state lender was 84.3 billion rupees ($1.1 billion) in the three months through December, compared with 51.96 billion rupees a year ago, it said in a statement. That beat the average estimate of 82.59 ...

  Bloomberg Bank Negara Malaysia signalled it’s not yet ready to withdraw policy support as the economy recovers, steering clear of the hawkish pivot undertaken by major central banks. The current policy stance is “appropriate and accommodative” and any adjustment will be data-dependent, Governor Nor Shamsiah Mohd Yunus said in an email interview. Headline inflation is expected to remain moderate ...

  Bloomberg Europe’s biggest bank payout-plan failed to excite investors who’ve grown accustomed to fat payout ratios and dividends at Intesa Sanpaolo SpA. The Milan-based lender said it will disburse more than 22 billion euros ($25 billion) to shareholders through 2025. While that put it ahead of Italian rival UniCredit SpA in the contest to offer Europe’s bank investors the ...

  Bloomberg Bank of America Corp (BofA) boosted Chief Executive Officer Brian Moynihan’s compensation 31% to $32 million for 2021, a year in which the firm set a record for profitability. His package includes $1.5 million in salary and a $30.5 million in stock-based incentive awards, the Charlotte, North Carolina-based lender said in a filing. A year ago, Moynihan took ...

  Bloomberg As interest rates finally inch up, European banks are telling investors to expect something they haven’t seen in almost 15 years: returns in the teens. Several of the region’s top lenders recently raised their profitability targets as they expect higher income from lending. The upgrades range across the whole of Western Europe, from Nordea Bank in Helsinki to ...

  Bloomberg China called on banks to boost real estate lending in the first quarter and eased a key debt restriction for developers, a sign that authorities are becoming increasingly concerned about the industry’s liquidity crisis. In previously unreported window guidance issued last month, regulators told banks to step up lending to developers after at least two quarters of consecutive ...

Bloomberg Danske Bank A/S has cut 60 jobs as part of plans to reduce costs and operate with a smaller labour force. The cuts were made across the organization in January, Karsten Breum, head of human resources at the Copenhagen-based bank, said in an emailed statement. Denmark’s largest bank, which is due to publish 2021 earnings on Thursday, currently employs ...

  Bloomberg The Czech central bank raised borrowing costs to the highest level in the European Union, (EU) delivering what’s probably its last large increase and outlining a relatively dovish outlook for the rest of the year. The koruna weakened. Policy makers raised the benchmark rate to 4.5% from 3.75%, as predicted by a majority of economists in a Bloomberg ...

  Bloomberg Danske Bank falls the most in three months in Copenhagen trading after cost-cutting measures by Denmark’s biggest bank failed to yield the results expected by the market. The shares slid almost 6% before regaining some ground to trade down 3.3% in the Danish capital. The bank’s guidance on costs for this year was worse than expected, Jyske Bank ...