Banking

Bloomberg China’s local governments are helping inject fresh capital into small lenders across the country, part of an expanding campaign to restore confidence in the world’s largest banking system. At least 10 small Chinese banks have raised money this year by selling shares packaged with non-performing loans, in several cases to buyers controlled by local authorities. In at least one ...

Bloomberg Some of Deutsche Bank AG’s top financial supervisors have doubts that Chief Executive Officer Christian Sewing’s latest pick for the management board is qualified for the job. Several watchdogs are worried that Michael Ilgner, hired as head of human resources from a small non-profit, doesn’t have experience leading large organisations or the banking background needed to join the top ...

Bloomberg French economic growth will cool slightly at the end of the year amid pressure on industry from the global slowdown, the Bank of France said. The softer pace of expansion indicates the euro area’s second-largest economy isn’t immune to the downturn in trade and manufacturing that’s hurting countries across the currency bloc. Until now, France had shown more resilience ...

Bloomberg The European Central Bank (ECB)could consider giving non-banks access to its balance sheet to keep control over money-market rates, according to Executive Board member Benoit Coeure. Speaking at a money-market workshop in Frankfurt, Coeure highlighted a “possible risk” that the new short-term rate called ESTR — designed to provide a more complete picture of actual borrowing conditions — “might ...

Bloomberg European banks have found a silver lining to their recent troubles: they can make a case that they’re too weak to abide by new regulations being set by Brussels. After years fighting a rearguard battle against tighter requirements set by global regulators, some bankers in Europe now say they sense an opportunity to persuade local policy makers to go ...

Bloomberg At the height of the Danske Bank A/S dirty-money scandal, the lender started offering gold bars to wealthy clients to help them keep their fortunes hidden, according to documents seen by Bloomberg. The bank’s Estonian branch, which was already wiring billions of client dollars to offshore accounts, told a select group of customers, mostly from Russia, that they could ...

Bloomberg Hong Kong regulators fined UBS Group AG 400 million Hong Kong dollars ($51 million) for overcharging global wealth management clients during almost a decade and flagged concerns about serious and systematic problems with the bank’s internal controls. The Hong Kong Securities and Futures Commission (SFC) found that UBS systematically overcharged private banking clients by manipulating the price on bond ...

Bloomberg Deutsche Bank AG told UK regulators that it’s facing persistent issues in processing high-value payments in the country, a further sign of the IT problems plaguing the lender. The German lender met with Bank of England officials two weeks ago to explain disruptions of payments going through the BoE’s high-value payments system CHAPS on several days in October, according ...

Bloomberg The African Development Bank (AfDB) will discuss 59 projects valued at $67 billion with dealmakers at its flagship investment conference. The deals, which span 29 countries, range from regional infrastructure development to investments in energy, financial services, urban housing and small business support, AfDB President Akinwumi Adesina said in an interview in Johannesburg. “The focus is really on the ...

Bloomberg Goldman Sachs Group Inc’s co-head for India business, Vijay Karnani, is retiring from the bank after 21 years with the company, according to a memo seen by Bloomberg News. Karnani joined Goldman Sachs in 1998 as an associate in equity capital markets and moved to the equity derivatives team in Hong Kong in 2000, the memo shows. He became ...