Banking

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 ...

Bloomberg Credit Suisse Group AG’s investment bank chief stepped down, adding to months of turmoil at the top that started with the departure of its wealth management head and culminated in a spying scandal. Jim Amine decided to resign as chief executive officer of the investment banking and capital markets division and leave the executive board, taking the role as ...

Bloomberg Bank of England (BOE)policy makers are being forced to keep stumm just as the outlook is changing, restricting their ability to reinforce signals that lower interest rates could be imminent. The UK’s December 12 election will hamper any attempts to prepare markets for a move at the BOE’s next decision just before Christmas. Officials are now in the customary ...

Bloomberg India’s Yes Bank Ltd, the world’s worst-performing lender in 2019, has posted the globe’s biggest gain over the past month. Its shares have rallied about 50% — the biggest gain among global peers valued at more than $1 billion — after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised ...

Bloomberg Deutsche Bank AG shareholders have called for Chief Executive Officer Christian Sewing to end his role in supervising the investment banking division amid concern it may distract him from his main job, the Telegraph reported. Deka Investment, one of the bank’s shareholders, called it “unusual” for a CEO to run a division while there’s ongoing restructuring involving 18,000 job ...

Bloomberg Nigerian local-currency bond yields have plunged to 18-month lows as investors pile into the debt after the central bank restricted sales of higher-yielding, shorter-term central-bank securities. The average yield for naira government bonds has dropped 117 basis points to 13.03% since the central bank moved to block individuals and non-bank firms from buying so-called open-market operations (OMOs) on October ...

Bloomberg Vietnam’s Military Commercial Joint Stock Bank plans to raise about $240 million from the sale of a 7.5% stake to foreign investors via a private placement, according to people familiar with the matter. The sale of the 7.5% stake, or 141.5 million new shares and 47 million treasury shares, is expected to be completed by the end of this ...

Bloomberg A Wall Street regulator is opening a probe into Goldman Sachs Group Inc’s credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card’s algorithms when determining credit limits. A series of posts from David Heinemeier Hansson starting railed against the Apple Card for giving him 20 times the credit limit ...

Bloomberg Germany’s finance ministry sought to break the deadlock in discussions over European banking integration by signaling it may drop its opposition to a key part of the plan. Berlin is ready to consider a form of joint European deposit insurance, something that would stabilise the financial system by reducing the risk of bank runs, according to a finance ministry ...