Banking

Bloomberg DWS Group, the German asset manager taken public by Deutsche Bank AG in March, is wrestling with withdrawals, though its executives say the worst is behind them. Investors pulled 7 billion euros ($8 billion) in the fourth quarter of 2018, taking total redemptions last year to more than 22 billion euros. To make matters worse, the volatility that roiled ...

Bloomberg Deutsche Bank AG’s top ranks are bracing for a potential government-brokered merger with rival Commerzbank AG by mid-year as they run out of time to turn Germany’s largest bank around. Executives are concerned such a deal may become their only option if there’s no clear improvement in the first three months of 2019, people briefed on their thinking say. ...

Bloomberg Barclays Plc won permission to transfer large parts of its business from Britain to its Dublin-based subsidiary if needed, with a judge disclosing that the Brexit-driven move could affect thousands of the bank’s corporate clients. The London-based bank had requested court approval for the potential move, which was granted by High Court Judge Richard Snowden. Snowden described the move ...

Bloomberg India’s shadow lenders are facing a fresh threat, just as they were starting to recover from the fallout of landmark defaults last year by one of their own. The lenders could come up against a new cash shortage, if concerns about debt at conglomerate Essel Group ricochet through India’s money markets, according to Citibank and Credit Suisse. There’s reason ...

Bloomberg Societe Generale SA is making a last-ditch effort to boost its performance after a trading slump threatened Chief Executive Officer Frederic Oudea’s targets. The French bank — recovering from regulatory probes that cost it billions of euros and a management reshuffle — plans to cut jobs in less profitable investment banking businesses to save at least 100 million euros ...

Bloomberg The head of Swedbank’s Estonian unit Robert Kitt is among three nominees who are in the running to replace central bank chief Ardo Hansson as the Baltic nation’s voting member on the European Central Bank’s Governing Council. The nominees, listed by the central bank’s eight-member supervisory board, also include deputy Governor Madis Muller and senior Finance Ministry official Marten ...

Bloomberg Metro Bank Plc fell the most since going public after applying an incorrectly low risk weighting to parts of its loan book, with the British lender’s chief saying he doesn’t know how long the mortgages in question had been wrongly classified. The shares plunged as much as 39 percent and the bank’s bonds also fell on concern it will ...

Bloomberg Don’t be fooled by the Bank of England’s (BOE) recent unanimity — the debate will become more heated. While Brexit has split Britain down the middle, policy makers have voted 9-0 on interest rates for the past four meetings and generally stayed quiet on the outlook as the UK’s impeding divorce from the European Union becomes more fraught. Governor ...

Bloomberg It may take a few years for blockchain’s impact to be felt meaningfully, but it will provide some advancements in certain areas even as cryptocurrencies falter, according to JPMorgan Chase & Co. “Blockchain isn’t going to reinvent the global payment system, but it will provide marginal improvements,” JPMorgan’s chair of global research, Joyce Chang, said in an interview. “The ...

Bloomberg Toronto-Dominion Bank is seeking to win back customers with home-equity loans — even as concerns grow over elevated consumer debt amid a slowing Canadian economy. A push for a greater market share of home-equity lines of credit, or helocs, is part of this year’s strategy for Teri Currie, group head of Canadian personal banking at the country’s largest lender ...