Banking

Bloomberg Titans of the US banking industry said they will pump out more cash to shareholders after all 18 lenders passed the Federal Reserve’s annual stress tests. The results were a particular win for Deutsche Bank AG after it repeatedly failed past exams. A dozen of the nation’s largest lenders said they will boost payouts through dividends and stock buybacks …

Bloomberg India’s financial regulator has spelled out its concerns about the implications of the country’s spreading shadow banking crisis, saying any failure among the largest of the non-bank finance firms could cause losses comparable to a collapse among the major banks. In its latest Financial Stability Report released, the Reserve Bank of India said the potential losses in the event …

Bloomberg Australian lenders including Commonwealth Bank of Australia pledged to rein in uninvited offers of credit and commission charges after an inquiry that unearthed a string of scandals in the financial sector. The new code of practice, in force from July 1, is designed to increase customer protection and introduces new penalties for breaches, the Australian Banking Association said in …

Bloomberg JPMorgan Chase & Co.’s first investment in an Asian financial technology firm is a key plank in the US bank’s strategy to boost its cash management services in fast-growing regional markets such as India and China, according to a senior regional executive. Last month, JPMorgan announced it was taking a stake in Global PayEx, a Mumbai-based fintech firm which …

Bloomberg Brazil’s central bank cut its 2019 growth forecast by more than half, blaming factors including falling confidence, a weaker than expected first quarter and a global slowdown. Latin America’s largest economy will expand 0.8 percent this year, down from previous estimate of 2 percent in March, according to the central bank’s quarterly inflation report published. Policy makers are more …

Bloomberg President Donald Trump wants a weaker dollar to help boost exports, and is counting on the Federal Reserve to help make that happen. But the central bank’s chairman, Jerome Powell, has made clear it’s not his job. It’s a new twist in the broader pressure campaign the president has brought to bear on Powell to cut interest rates to …

Bloomberg The People’s Bank of China (PBOC) has asked commercial lenders not to lower the interest rate of home mortgages from the current level in order to curb the growth of home loans, according to sources. The PBOC offered verbal guidance to state-owned ban-ks, joint stock banks and other commercial lenders, the people said, asking not to be identified as …

Bloomberg Singapore will issue as many as five new digital bank licenses to non-bank firms as the island nation seeks to strengthen competition in financial services, according to one of its top regulators. “We welcome firms with innovative value propositions to apply for the new digital bank licenses, even if they have not yet established a track record in banking,” …

Bloomberg Axis Bank Ltd. is considering raising at least $1.3 billion through a share sale to institutional investors, people with knowledge of the matter said, as the Indian lender seeks to bolster capital ratios and expand lending capacity. India’s third-largest private sector lender, led by Chief Executive Officer Amitabh Chaudhry, is talking to potential advisers about the fundraising, according to …

Bloomberg Deutsche Bank AG is preparing to start cutting hundreds of jobs in its global equity division, the first major cuts in a broader restructuring after a potential merger with Commerzbank AG collapsed. The German lender is set to finalise a plan that may eliminate positions in equities trading and research, as well as derivatives trading, the people said, asking …