Banking

Bloomberg Australia should extend its new bank levy to foreign financial institutions in a bid to recoup more than the planned A$6.2 billion ($4.6 billion), according to cross-bench lawmaker Nick Xenophon. Applying the tax to foreign banks as well as the nation’s five biggest lenders may recoup as much as A$800 million, which could help fund compensation for victims of ...

Bloomberg JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he remains optimistic about the global economy and the prospects for regulatory reform under US President Donald Trump. “Japan is growing more than it has grown in 15 years, Europe is doing well all things considered, America is chugging along,” Dimon said in an exclusive interview with Bloomberg TV ...

Bloomberg Italy’s plan for an 8.8 billion-euro ($9.8 billion) bailout of Banca Monte dei Paschi di Siena SpA faces resistance from the European Central Bank, which is concerned the lender may struggle to maintain capital buffers as it tries to get back on its feet, according to people with knowledge of the matter. The ECB’s oversight arm has signaled that ...

Bloomberg State Bank of India, (SBI) the country’s largest lender by assets, more than doubled fourth-quarter profit as loan growth accelerated and bad-debt provisions fell. The stock climbed to a two-year high. Net income climbed to 28.1 billion rupees ($430 million) in the three months ended March 31 from 12.6 billion rupees a year earlier, the Mumbai-based lender reported. Outstanding ...

Bloomberg Banco Popular Espanol SA’s decade-old crisis may finally be coming to a head. For years, the Spanish lender managed to hold onto a mountain of soured real-estate loans made before the global financial crisis, tapping shareholders for new capital three times in the last five years. Now, with the stock down 98 percent from its 2007 peak and a ...

Bloomberg S&P Global Ratings raised Indonesia’s credit rating to investment grade, bringing it in line with the other two main rating companies and paving the way for more fund inflows into Southeast Asia’s largest economy. Stocks surged to a record and the rupiah advanced. The sovereign rating was lifted to BBB- from BB+ with a stable outlook, S&P said, citing ...

Bloomberg East West Banking Corp., the Philippine lender that took over some of Standard Chartered Plc’s local operations last year, plans to sell a minority stake to a strategic investor, according to people familiar with the matter. The retail-focused bank is working with an adviser to sell about a 20 percent stake, the people said, asking not to be identified ...

Bloomberg Deutsche Bank AG Chief Executive Officer (CEO) John Cryan said there are more opportunities to increase revenue this year as Europe’s largest investment bank continues its turnaround plan. “2017 is another year of restructuring even though in a better outlook,” Cryan told the bank’s shareholders on Thursday at the annual general meeting in Frankfurt. “We see better revenue opportunities, ...

DUBAI / Reuters Oman has appointed banks to arrange a global fixed income investor call ahead of a potential dollar sukuk issuance which would be the first public international sale of Islamic bonds by the Gulf state. The planned sale, expected to raise around $2 billion, would be in addition to a $3.6 billion syndicated loan that Oman is in ...

Bloomberg The European Central Bank (ECB) can’t wait too long to signal the winding down of its stimulus measures, Executive Board member Benoit Coeure warned on Thursday, citing the risk of jolting the markets. “Too much gradualism in monetary policy bears the risk of larger market adjustments when the decision is eventually taken,” Coeure said in an interview with Reuters ...