Banking

Bloomberg Swiss National Bank (SNB) policy makers watching the effects of negative interest rates on the economy are worrying about the real-estate bubble that their policy is helping to foster. Aware that any shift in their sub-zero stance could unsettle currency markets, officials are likely instead to highlight the availability of regulatory tools to cool the property market at their ...

Bloomberg JPMorgan Chase & Co opened its digital retail bank in the UK on Tuesday as it expands its consumer business overseas. The bank, called Chase, launched with a fee-free current account and plans to add savings and investment accounts along with loans, according to a statement. Chase will also try to tempt new customers with 1% cashback on debit ...

Bloomberg Bank of America Corp (BofA) has promoted three bankers to be heads of global financial institutions investment banking, according to a memo reviewed by Bloomberg News. Will Addas, Gary Howe and and Giorgio Cocini will take on the new roles. “These three leaders will share responsibility for driving business strategy globally, seizing opportunities for continued growth and leading a ...

Bloomberg Sweden’s central bank will this week reveal if a buoyant economic recovery and inflation that is heading towards the fastest since 2008 are reason enough to bring forward plans for tightening monetary policy. Economists don’t expect the Riksbank to change its interest rate on Tuesday, while investors are focusing on whether officials reckon the benchmark, now at zero, should ...

Bloomberg HDFC Bank Ltd, India’s most valuable lender, plans to double the amount of loans it makes to retail borrowers over the next couple years as consumer demand ramps up from a pandemic-induced slowdown. Uncertainty is declining and demand is improving as businesses seek to bolster growth after Covid-19, Arvind Kapil, the bank’s country head for retail assets, said. It’s ...

Bloomberg China injected more cash into its banking system in a sign authorities are seeking to avert a funding squeeze amid a seasonal rise in financing demand and the intensifying debt crisis at China Evergrande. The People’s Bank of China (PBOC) added 90 billion yuan ($14 billion) of funds on a net basis through seven-day and 14-day reverse repurchase agreements, ...

Bloomberg Mitsubishi UFJ Financial Group Inc is considering selling its US banking arm, as consolidation heats up in the American financial industry. The Japanese lender is working with an adviser to explore options for MUFG Union Bank NA, said the people, who asked to not be identified because the matter isn’t public. Mitsubishi UFJ has held some informal discussions with ...

Bloomberg Goldman Sachs Group Inc. agreed to buy GreenSky Inc for about $2.24 billion, adding to its Marcus consumer-banking platform a company that offers payment plans to customers with home-improvement projects or health-care needs. The New York-based bank will pay 0.03 share of its common stock for each share of Atlanta-based GreenSky, which works out to about $12.11 a share, ...

Bloomberg A veteran banker at Kotak Mahindra Bank Ltd said that strains in India’s bond market are at the highest she’s seen in her two-decade career. The flood of cash that the Reserve Bank of India (RBI) has pumped into the market amid the pandemic has headed into shorter notes with top ratings, while there’s little demand for weaker credit ...

Bloomberg Royal Bank of Canada (RBC) is shaking up its senior ranks, promoting Nadine Ahn to chief financial officer (CFO) and expanding the portfolio of personal and commercial banking head Neil McLaughlin. Ahn currently head of investor relations and finance chief for the capital markets division, will take over as CFO on November 1, the Toronto-based company said in a ...