Banking

Bloomberg DNB ASA finally feels it’s getting some respect from investors, but it has some way to go in matching its Nordic rivals on its income mix. With Nordea Bank Abp moved to Finland and Danske Bank A/S mired in a money laundering scandal, Norway’s DNB is now Scandinavia’s biggest bank by market value. While calling itself the largest Scandinavian ...

Bloomberg Goldman Sachs Group Inc. has achieved half of its revenue-growth goal, but it isn’t stopping there. On his first day as chief financial officer, Stephen Scherr told investors the firm is ahead of schedule on its objective of $5 billion in new revenue by 2020. Goldman Sachs has already increased revenue firmwide by $2.5 billion through a series of ...

Bloomberg The co-head of a key markets business at BNP Paribas is st-epping down after the French bank reported some of the worst fixed-income trading results for third quarter. Adrian Boehler, who was co-head of the foreign exchange, local markets and commodities unit, will seek “another career opportunity” within Paris-based BNP Paribas while his counterpart Francisco Oliveira will become sole ...

Bloomberg Macquarie Group Ltd., the Australian investment bank, is building up a European front in a risky business where few rivals have been able to tread since the financial crisis. The bank has hired Massimiliano Pignatelli and Pablo de Mattos in London to make market bets with shareholders’ money, known as proprietary trading, according to people familiar with the matter. ...

Bloomberg Barclays Plc was the worst performer among 48 banks in Europe’s toughest stress test yet, underscoring the vulnerability of UK lenders to weak growth, credit losses and Brexit. Fellow British lender Lloyds Banking Group Plc didn’t fare much better in the test, with a key measure of financial health falling sharply in the most adverse scenario envisioned by supervisors. ...

Bloomberg One of the European Union’s most loyal members is voicing deep unease at the path Brexit negotiations are on. Denmark, which joined the EU the same year as Britain, is urging Brussels to work much faster to avoid the dysfunction that would ensue in the event of a so-called hard Brexit. A key concern is that the EU still ...

Bloomberg About one in 10 of China’s 4,000 banks received a fail rating in the central bank’s first review of the industry’s risks, highlighting challenges facing the nation’s $45 trillion financial system. Four hundred and twenty firms, all rural financial institutions, were deemed extremely risky after scoring eight or higher out of 10, according to the 2018 China Financial Stability ...

Bloomberg With India’s central bank emerging as the biggest buyer of government debt, some traders are calling time on a rout that’s lasted more than a year and sent benchmark yields soaring to a four-year high. The Reserve Bank of India bought 860 billion rupees ($11.8 billion) of bonds between May and October, and plans to inject 400 billion rupees ...

Bloomberg New Zealand banks have been ordered to take steps to reduce the risk of bad behaviour, including scrapping all incentives linked to sales. In a report on bank culture and conduct released on Monday by the Reserve Bank and the Financial Markets Authority, the regulators said they identified “significant weaknesses in the governance and management of conduct risks” that ...

Bloomberg British and European officials are playing down reports that a Brexit deal has been reached for banks that would provide access to the single market after the UK leaves the bloc. The pound pared gains. The European Union’s chief Brexit negotiator Michel Barnier said in a tweet that the bloc was “ready” to have “close regulatory dialogue” with the ...