Banking

Bloomberg Deutsche Bank’s traders kept Chief Executive Officer Christian Sewing’s overhaul alive when negative interest rates eroded income from lending. Now the CEO is counting on them to carry him to the finish line. With Germany’s largest lender approaching the final stretch of his four-year plan, Sewing on Wednesday raised the revenue outlook on the back of another strong quarter ...

Bloomberg In the last few weeks, the managing director of the Monetary Authority of Singapore has gained attention for his personal views on some politically charged topics, echoing a similar evolution among his central banking peers as they address the world beyond money supply. In a series of recent lectures as a visiting scholar at a local university’s think tank, ...

Bloomberg Credit Suisse Group AG failed to properly monitor tens of billions of dollars of exposure that piled up while handling trades for Archegos Capital Management that generated relatively little revenue, according to people briefed on the findings of the bank’s internal inquiry. The report into how the bank lost about $5.5 billion tied to the collapse of Bill Hwang’s ...

Bloomberg Santander Brasil Chief Executive Officer Sergio Rial will step down from the role after almost six years at the helm of the bank. The change, announced in a filing, will happen at the end of the year. Rial, who’ll become chairman and will remain a member of the bank’s board in Spain, will be replaced by Mario Roberto Opice ...

Bloomberg Barclays Plc’s investment bankers brought in a record haul as the booming deals market extended through the second quarter, offsetting more muted results in trading and helping the group to deliver improved profit and fresh shareholder payouts. Income from capital markets and merger advisory at the London-based lender rose by almost a fifth to 873 million pounds ($1.2 billion), ...

Bloomberg Credit Suisse Group AG is pushing deeper into China with plans to extend underwriting of initial public offerings (IPOs) even as markets are roiled by Beijing’s crackdown on the booming financial technology and private education industries. The Swiss lender plans to sponsor initial public offerings (IPOs) on the Nasdaq-like Star Market Board in Shanghai, Tim Tu, head of the ...

Bloomberg Toronto-Dominion Bank (TD) raised C$1.75 billion ($1.39 billion) in its inaugural sale of limited recourse capital notes (LRCNs), taking advantage of the fast growing market for the Canadian dollar-denominated hybrid securities first sold one year ago. Toronto-Dominion, Canada’s largest bank by assets, priced the transaction at the tight end of guidance after drawing orders covering the offering by more ...

Bloomberg Hungary is set to deliver a second interest-rate increase in as many months to combat the European Union’s fastest inflation, though economists disagree on the size of the move. The eastern European country and the nearby Czech Republic both tightened monetary policy in June as a rally in global commodities and the easing of lockdowns pushed consumer prices sharply ...

Bloomberg South Korea’s central bank remains confident of the country’s robust recovery from the pandemic slump and looks largely on track to raise interest rates this year after economic growth cooled more than expected last quarter. Asia’s fourth-largest economy grew 0.7% during the three months to June from the previous quarter, the Bank of Korea said on Tuesday, below economists’ ...

Bloomberg ICICI Bank Ltd posted a 78% jump in profit in the first quarter, helped by strong net interest earnings and lower bad loan buffers amid the recent deadly coronavirus wave. Net income at India’s second-largest private lender stood at 46.16 billion rupees ($620 million) in the three months to June, compared with 25.99 billion rupees a year ago, according ...