Banking

  Bloomberg Goldman Sachs Group Inc. plans to start moving London-based staff and operations to new or expanded offices inside the European Union next year, as it prepares for the UK to lose easy access to the single market after Brexit, the firm’s co-head of investment banking said. The bank will relocate client-facing staff to various EU cities including Madrid, ...

  Bloomberg Deutsche Bank AG hired Citigroup Inc. Treasurer James von Moltke to replace Marcus Schenck as chief financial officer, completing a management shakeup that’s been key to the latest turnaround plan. Von Moltke will start in July, Deutsche Bank said in a statement, confirming a report by Bloomberg earlier on Friday. Germany’s biggest bank in March promoted Schenck to ...

  Bloomberg The Nordic region’s best-performing bank said first-quarter profit jumped 12 percent, a better result than analysts had expected, as income from trading grew. Danske Bank A/S reported net income of 5.53 billion kroner ($808 million) for the period, compared with a 4.52 billion-krone estimate in a survey of analysts compiled by Bloomberg. Net interest income rose 9 percent, ...

  BEIRUT / Reuters Lebanon’s Blom Bank reported a 3.5 percent year-on-year rise in first-quarter net profit, it said in a statement on Saturday. Net profit for the three months to the end of March was $112.03 million, it said. The bank had reported a $108.23 million net profit for the same period a year ago. It is Lebanon’s second-largest ...

  Bloomberg Deutsche Bank AG’s muted gains in a particularly strong period for Wall Street trading is raising doubts about how quickly Chief Executive Officer John Cryan can recover ground lost to competitors. Europe’s largest investment bank on Thursday reported an 11 percent increase in revenue from trading bonds and currencies in the first quarter. That’s less than half the ...

  Bloomberg The Bank of Japan (BOJ) kept its stimulus policies unchanged while lowering its inflation forecast, underscoring that any exit from its unprecedented monetary easing remains far away. The central bank will continue to use its two policy rates and asset purchases to spur prices higher, it said in a statement Thursday. The decision was expected by almost all ...

  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 ...