Banking

Bloomberg Citigroup Inc has chosen preferred bidders for its consumer assets in several Asian markets as the U.S. lender presses ahead with its plans to divest numerous units across the region. The US lender picked Bank of Ayudhya Pcl as the leading suitor to buy its retail assets in Thailand, the people said, asking not to be identified because the ...

Bloomberg BNP Paribas SA expects the record fundraising spree in India to continue next year, aided by robust foreign inflows into initial public offerings and as more companies seeking to expand plan to sell shares. “I expect 2022 to continue to be a record year for fund raising,” Ganeshan Murugaiyan, head of corporate coverage and advisory at BNP Paribas in ...

Bloomberg The Bank of England (BOE) is preparing to halt its almost 900 billion-pound ($1.2 trillion) quantitative easing program, leaving the future of what has become a controversial crisis-fighting tool shrouded in doubt. More than decade after buying the first government security as part of an initial 75-billion pound, three-month plan during the global financial crisis, the BOE will next ...

Bloomberg Vietnam’s central bank bought about $25 billion worth of US dollars over the past two years, according to a deputy governor. The move helped inject the Vietnamese dong into the banking system and boost the economy, Pham Thanh Ha told an economic forum in Hanoi. The US Treasury last week announced that Vietnam met all the criteria again of ...

Bloomberg Paul Pester, former chief executive officer of TSB Bank Plc, is preparing to launch a social network for digital payments, according to Sky News. Loop, as the startup is called, raised a seed round of investment and plans to bring in more money next year, according to the report. Pester’s partners on the project are Anthony Thomson, the founder ...

Bloomberg Shorter-maturity Indian bonds are poised to extend losses amid growing expectations the central bank will accelerate its policy normalisation as the economic revival gains traction. Rates on notes with maturities of up to two years climbed in recent weeks as the central bank expanded its efforts to remove excess liquidity from the banking system, with the one-year bill yield ...

Bloomberg UBS Group AG will compensate its Hong Kong employees for quarantine costs, matching similar plans by US rivals, as global financial institutions step up efforts to retain staff weighed down by city’s strict zero-Covid policy. Citadel, JPMorgan Chase & Co and Morgan Stanley are among those to have rolled out compensation plans for Hong Kong staff. Goldman Sachs Group ...

Bloomberg Hong Kong Exchanges & Clearing Ltd (HKEX) plans to establish a representative office in New York to market its offerings in the US amid increasing doubts over the former British colony’s status as a financial hub. The new office will comprise of only about five staff, people familiar with the plans said, asking not to be identified discussing private ...

Bloomberg European Central Bank (ECB) President Christine Lagarde called the prospect of an interest-rate increase next year unlikely, but said she’d quickly take action to combat elevated inflation should it become necessary. “When the conditions of our forward guidance are satisfied, we will not hesitate to act,” Lagarde told Reuters in a webcast interview. Her remarks come just days after ...

Bloomberg Westpac Banking Corp agreed to pay A$113 million ($80.6 million) in penalties after the Australian regulator alleged the lender had widespread compliance failures that included charging dead people. The case includes a claim that Westpac charged more than A$10 million ($7.01 million) in fees for financial advice to over 11,000 deceased customers over a 10-year period, according to a ...