Banking

Bloomberg Deutsche Bank AG’s big hit from stricter global capital standards may be softened by the small print. New rules give supervisors the option to exclude banks’ litigation payouts when calculating their so-called operational risk. If that happens, it would be a boon for Deutsche Bank and potentially improve returns for shareholders. The bank declined to comment specifically on the ...

Bloomberg Pressure on the ratings of India’s state-owned banks is set to ease after the government unveiled plans to inject 881 billion rupees ($14 billion) of fresh capital to help the lenders meet looming Basel norms without hurting a nascent recovery in credit growth. “The large recapitalisation is credit positive and will stem downward pressure on viability ratings, which have ...

Bloomberg DBS Group Holdings Ltd. plans to increase the number of relationship managers in its private banking business to tap into surging Asian wealth. Headcount will rise between 10 percent and 20 percent this year — after increasing more than 20% in 2017 — adding to a team that currently comprises 200 private bankers, Lawrence Lua, deputy private-banking head, said ...

Bloomberg Nordea Bank AB reported a slump in profit at the end of last year, lagging behind analyst estimates, as the Nordic region’s only global systemically important bank struggles with a transformation it says will ultimately make it more efficient. Investors were quick to express their dissatisfaction. Shares in the bank opened more than 4 percent lower in Stockholm, their ...

Bloomberg After aggressive digitalisation and cost-cutting programs helped turned around Bank Leumi Le-Israel Ltd, Chief Executive Officer Rakefet Russak-Aminoach is preparing an international expansion of its mobile bank. “We are looking at going global; we are checking some business plays and considering some partnerships with others” including technology companies and larger banks, she said in an interview on the sidelines ...

Bloomberg Malaysia’s central bank raised its benchmark interest rate for the first time since 2014, with economists guessing that it won’t need to tighten again this year. Bank Negara Malaysia increased the overnight policy rate to 3.25 percent from 3 percent, it said in a statement in Kuala Lumpur, as predicted by 16 of the 20 economists in a Bloomberg ...

Bloomberg European banks may have scored a victory in having the Basel III capital standards toned down, but that doesn’t mean they can rest on their laurels. There are more battles to come in 2018, in particular lobbying lawmakers on a series of measures designed to reduce risk in the system. The regulations are deemed a vital step towards the ...

SYDNEY/ Reuters The Islamic Financial Services Board (IFSB) plans to develop more detailed guidance on financial safety nets to help harmonise Islamic principles with existing legal systems, as the industry body strengthens ties with financial regulators. The Malaysia-based IFSB, one of the main standard-setting bodies in Islamic finance, is seeking to shed light on issues relating to sharia-compliant transactions in ...

Bloomberg As Nordea Bank AB’s Bitcoin ban for staff has unions questioning the legality of the move, Sweden’s minister in charge of financial legislation says it’s understandable that the industry is resorting to such measures. “If banks have rules on what investments they or their employees are trading in, it is up to them,” Financial Markets Minister Per Bolund told ...

Bloomberg UBS Group AG plans to keep the maximum amount of jobs and business in the UK as the country works towards a solution with European authorities on its exit from the trading block. The bank considers a centralised model more efficient and favors a European financial center that can “balance” New York, investment banking head Andrea Orcel said in ...