Banking

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 ...

Bloomberg European Central Bank (ECB) policy makers signalled they see euro-area inflation potentially exceeding forecasts as economy recovers and supply bottlenecks drive up input prices. The comments by three Governing Council members point to a more heated debate about the central bank’s current ultra-loose policy, with the pandemic-era bond-buying program set to expire by March next year. Their remarks will ...

Bloomberg Nigeria’s central bank left its key interest rate unchanged to support an economy that expanded at a slower pace than expected in second quarter. All 10 members of the monetary policy committee who attended its two-day meeting voted to keep the rate at 11.5% for the sixth straight meeting, Governor Godwin Emefiele said in a virtual briefing from the ...

Bloomberg Credit Suisse Group AG has become the latest lender to bet on Europe’s booming rental housing sector. The Swiss bank’s asset management arm is teaming up with real estate investor Mark to acquire and manage residential properties in city centers, according to a statement. The Doma venture seeks to raise an initial 350 million euros ($414 million). The partnership ...

Bloomberg Wells Fargo & Co delayed its return-to-office plans by another two weeks to early November. The firm, which has the biggest workforce of any US bank, will now begin bringing back employees who have been working remotely starting November 1, according to an internal memo from Chief Operating Officer Scott Powell. The bank had previously planned on beginning the ...