Banking

Bloomberg Italy’s populist leaders are focussing on how to shield the nation’s banks in case market pressure worsens amid a standoff with the European Union over the government’s budget plan. Premier Giuseppe Conte asked government entities to prepare options to help the lenders if the decline in the value of their holdings of government debt requires them to recapitalise, Corriere ...

Bloomberg HSBC Holdings Plc Chief Executive Officer John Flint delivered the kind of growth that investors have been waiting for. Flint, who took over this year, succeeded in posting third-quarter revenue gains that outpaced expenses: adjusted rev- enue climbed 9 percent while costs increased 2 percent. The shares in Hong Kong jumped after falling close to a two-year low last ...

Bloomberg Big regional US banks such as US Bancorp, Capital One Financial Corp. and PNC Financial Services Group Inc. are about to get more relief from regulators appointed by President Donald Trump. The Federal Reserve and other agencies — responding to legislation that’s meant to soften rules for smaller lenders — are set to propose this week that a series ...

Bloomberg Germany’s oldest lender is lender trying some new ideas. Hamburg-based Joh Berenberg Gossler & Company KG will abandon its dual-leadership structure in German wealth management, the unit’s new sole head Dirk Wehmhoener told Bloomberg in an interview. In order to increase assets under management, he intends to interlink wealth management more closely with investment banking. Acquisitions, however, are not ...

Bloomberg Indian lenders are being punished for their exposure to a shadow lender as the government fails to make good on its promise to halt defaults by the distressed financier. IndusInd Bank Ltd has lost more than $1.9 billion of market value since it announced quarterly earnings as net income growth missed expectations and provisions for doubtful loans shot up. ...

Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing gave himself one year to turn around the lender. Six months into his tenure, urgent questions about the future are becoming louder as the stock slumps to record lows. After disappointing investors by posting the lowest third-quarter revenue in eight years and abandoning some targets, the stock rout worsened, producing Deutsche ...

Bloomberg Seven years “is more than enough time at any company that has to put up with me.” That’s George Culmer’s assessment as he steps down as chief financial officer of Britain’s largest mortgage lender. His comments may come as surprise to Lloyds Banking Group Plc chief Antonio Horta-Osorio, who has been at the bank just as long. “I am ...

Bloomberg DNB ASA dropped after third-quarter profit disappointed with income from its investment banking and trading declining. Norway’s biggest bank’s third-quarter net income failed to rise from a year earlier, ending at 5.44 billion kroner ($652 million) and missing a 5.67 billion-krone analyst estimate compiled by the bank. “There will be fluctuations from quarter to quarter, but regarding the investment ...

Bloomberg The Italian government would step in to help in the event of a crisis in the banking sector, Finance Minister Giovanni Tria said, echoing comments made by one of the country’s two coalition leaders earlier in the week. In the event of a crisis, the government “must in one way or another intervene; saying how isn’t possible, if a ...

Bloomberg Danske Bank A/S’s laundering scandal and a massive dividend-tax fraud now look set to influence elections due to be held in Denmark next year. The country’s politicians are promising major changes to how the financial industry will be policed. The goal is to appease voters stunned by the sheer scale of allegations against their country’s biggest bank, and by ...