Banking

  Riyadh / Emirates Business QNB Group, the largest financial institution in the Middle East and Africa, inaugurated its branch in Riyadh, Kingdom of Saudi Arabia (KSA). Senior bank officials and distinguished representatives from the banking and business sectors attended an inauguration ceremony held under the patronage and presence of H.E. Dr. Ahmed bin Abdul Karim Al-Khulaifi, Governor of the ...

  Bloomberg Haruhiko Kuroda joked on Saturday that his previous role running the Asian Development Bank was more exciting than the assignment he’s taken on as governor of the Bank of Japan. Kuroda, who’s spearheaded massive monetary stimulus in Japan for more than four years but still faces an inflation rate near zero, was speaking during a seminar at the ...

  Bloomberg HSBC Holdings Plc’s investors are seeing a glimpse of what they want after years of shrinking: a return to revenue growth. The shares rose the most in five months as the bank reported a surprise jump in adjusted revenue driven by loan growth in Asia as well as the investment bank’s performance. Trading revenue jumped 29 percent, exceeding ...

  Bloomberg State Bank of India (SBI) sees a ‘positive turnaround’ in the nation’s bad loans after the government implements a new ordinance aimed at resolving the problem, according to the Chairman of India’s biggest bank. “The non-performing asset cycle is different this time,” Arundhati Bhattacharya, SBI’s top executive, said in an interview with Bloomberg News in Yokohama, Japan. “Many ...

  Bloomberg Australia’s central bank chief had a reminder on Thursday for borrowers that have helped send household debt to record levels: interest rates will one day rise. Reserve Bank of Australia (RBA) Governor Philip Lowe used a speech in Brisbane to reiterate his concerns about growth in private debt outpacing incomes. The risk is that heavily indebted households could ...

  Bloomberg Norway’s central bank kept rates unchanged at a record low and said it was “sticking to plans” even as inflation and the krone have come in weaker than forecast. The benchmark deposit rate was held at 0.50 percent, Norges Bank said in Oslo on Thursday. None of the 25 analysts surveyed by Bloomberg had expected any change. Since ...

  Bloomberg The end of the interest-rate increase cycle in South Africa doesn’t mean that the South African Reserve Bank (SARB) will start reducing borrowing costs, Governor Lesetja Kganyago said. “We could be coming to the end of our hiking cycle,” Kganyago said in an interview with Bloomberg TV’s Francine Lacqua on Thursday. “That you are coming to the end ...

  Bloomberg HNA Group Co., the Chinese aviation-to-hotels conglomerate, increased its stake in Deutsche Bank AG to almost 10 percent to become the top shareholder in Europe’s largest investment bank. HNA’s holding in Germany’s biggest bank rose to 9.92 percent, according to a regulatory filing Tuesday by investment entities acting on HNA’s behalf. The conglomerate initially reported a 3 percent ...

  Bloomberg JPMorgan Chase & Co. plans to move hundreds of London-based bankers to expanded offices in Dublin, Frankfurt and Luxembourg as it prepares for the UK to lose easy access to the European Union’s single market after Brexit, the firm’s head of investment banking said. “We are going to use the three banks we already have in Europe as ...

  Dubai / Emirates Business Ahli United Bank (AUB) reported a net profit attributable to its equity shareholders of US$159.4 million for the quarter ended March 31. The net profit reflected an increase of 3.1% in the first quarter of this year as compared to the comparative net profit figure of US$ 154.6 million achieved in Q1 2016. The first ...