Banking

  Bloomberg DBS Group Holdings Ltd. cut senior executive pay by 13 percent last year to hold managers accountable for weaknesses in three areas including surging nonperforming loans, Chief Executive Officer Piyush Gupta said. Besides bad loans, the management of Singapore’s largest bank penalized executives for a weaker performance in Greater China and “control lapses” on the regulatory front, Gupta ...

  Bloomberg HDFC Bank Ltd. is planning India’s biggest offering of perpetual debt as it seeks to bolster capital after missing a world-beating streak of profit growth that lasted two decades. The proposed 50 billion rupees ($780 million) worth of notes, which don’t have a maturity date, are the lender’s first under Basel III norms, according to a person familiar ...

  Bloomberg HSBC Holdings Plc and Royal Bank of Scotland Group Plc’s Saudi Arabia ventures are exploring a potential merger to create the kingdom’s third-largest lender with $78 billion in assets. Alawwal Bank, which is 40 percent owned by RBS, plans to start initial talks with HSBC’s Saudi British Bank, according to a statement on Saudi stock exchange website. Both ...

  Bloomberg Standard Chartered Plc’s return to its roots as a trade bank is bearing fruit. The bank’s shares jumped as much as 5 percent as first-quarter profit topped estimates, fuelled by the biggest increase in transaction banking revenue in more than three years. The lender said it would consider reinstating its dividend next quarter. Chief Executive Officer Bill Winters ...

  Bloomberg Deutsche Bank AG named Mike Weir to run par loan trading in the U.S., replacing an executive who joined Credit Suisse Group AG this year, according to a person familiar with the matter. Weir, an employee at the German bank since 2014, succeeds Mike Eilert, the person said, asking not to be named because the appointment hasn’t been ...

  ABU DHABI / WAM Twelve UAE national banks reported a total net profit of AED 7.64 billion during Q1 2017, a growth of 6.7 percent from AED 7.16 billion during the same period last year. Citing the state of deceleration now witnessed at the global banking industry, financial sources told the Emirates News Agency (WAM), that the results disclosed ...

  ABU DHABI / WAM The total assets of 10 UAE banks jumped to AED 1.75 trillion by the end of Q1 2017, a 9.3 percent growth from AED 1.6 trillion recorded over the same period last year. A WAM analysis has found out that the growth in assets of the 10 banks whose Q 1 financial statements were announced ...

  ABU DHABI / WAM The National Bank of Abu Dhabi and First Gulf Bank reported AED2.93 billion in net profits for the 1st quarter of 2017, a 12.4 percent growth from AED 2.60 billion over the same period last year. The positive results are attributed to a robust operational performance and increasing investments yields in addition to a successful ...

  Bloomberg China’s shadow banking is back in full swing, an unintended side effect of the government’s campaign against financial leverage, which has curbed traditional lending and squeezed bond financing. Data from the central bank showed that off-balance sheet lending surged 754 billion yuan ($109 billion) in March, taking the first quarter’s total increase to a record 2.05 trillion yuan. ...

  DUBAI / Emirates Business Mashreq, one of UAE’s leading financial institutions, announced the exclusive launch of Quick Remit service to Pakistan. Mashreq customers can transfer Pakistani rupees free of charge either – via MashreqOnline or Snapp and enjoy instant credit to all bank accounts in Pakistan. The new service is unique as it offers immediate transfers as opposed to ...