Banking

Bloomberg Want a glimpse into how vulnerable Ireland is to a messy Brexit? Look at its banks. Amid Brexit hardliner Boris Johnson’s rise to British prime minister, Bank of Ireland Group Plc is down 25 percent. AIB Group Plc has slumped 37 percent, making it the worst performer in the Euro Stoxx Banks Index since the end of June, as ...

Bloomberg Investors knocked down shares of India’s large state-run banks after the government unveiled its plan to merge several of the lenders, amid concerns that the integration process might delay a bad-loan cleanup and slow lending approvals. The four key large lenders at the center of the merged groups — Punjab National Bank, Canara Bank, Union Bank of India and ...

Bloomberg Lloyds Banking Group Plc is snapping up Tesco Plc’s mortgage portfolio for about 3.8 billion pounds ($4.6 billion) as the British bank bets the UK economy will hold up despite the prospects of a disorderly Brexit. The country’s biggest mortgage lender is tightening its grip, acquiring over 23,000 mortgage customers as part of the deal, according to statements from ...

Bloomberg Seven providers of mobile payment services owned in large part by banks are building a pan-European network, as traditional lenders seek to counter the growing competition from fintechs and global technology giants like Apple Inc. Danske Bank A/S’s MobilePay, which operates in Denmark and Finland, said the association is designed to pave the way for cross-border transactions for as ...

Bloomberg The Swiss National Bank’s introduction of negative interest rates didn’t lead to a “substantial change” in the public’s demand for cash, according to President Thomas Jordan. Jordan spoke in Bern on Tuesday, just over a week before European Central Bank (ECB) policy makers are expected to boost monetary stimulus, which could add to pressure on the Swiss franc and ...

Bloomberg Pockets of job growth are offsetting some of the dramatic cuts at the world’s largest lenders. Bank of America Corp (Bofa), Wells Fargo & Co, HSBC Holdings Plc and Credit Suisse Group AG added some 12,000 jobs in the first half of the year, according to data compiled by Bloomberg, meaning aggregate staff levels at 16 of the largest ...

Bloomberg A regional Chinese lender under the spotlight for liquidity strains plans to suspend dividend payments on its offshore preference shares, sending indicated prices on those securities tumbling. Bank of Jinzhou Co, which was the subject of a government-orchestrated rescue in July, said that it’s seeking shareholder approval to halt dividends for the year through October 26. That’s after its ...

Bloomberg Swiss National Bank sight deposits fell for the first time in seven weeks, suggesting the central bank has scaled back interventions to weaken the franc. Sight deposits, considered an early indicator of SNB market activity, declined 154 million francs ($155 billion). They had risen by 2.5 billion francs the previous week, and 3.8 billion francs the period before that. ...

Bloomberg Ireland won’t change its restrictions on banker pay, its junior finance minister signalled, in the clearest sign yet that the rules will remain in place. “I’m of the view the decision is made,” Michael D’Arcy said in a Bloomberg TV interview in Hong Kong. “The bankers in those institutions are well paid. The threshold is 500,000 euros and that’s ...

Bloomberg Now is finally the time to buy risk assets, with global stocks set to advance into the year-end, strategists at JPMorgan Chase & Co said. Positive technical indicators and monetary easing will likely outweigh the uncertainty of the US-China trade war and the “wild card” of developments in tariff negotiations, according to JPMorgan. After August’s sell-off, the strategists signalled ...