Banking

  Bloomberg China’s broadest measure of new credit increased more than estimated in March amid strong growth in shadow banking. New loans slowed for a second month while the money supply increased at the most sluggish pace since July. Aggregate financing stood at 2.12 trillion yuan ($308 billion), the People’s Bank of China said, versus a median estimate of 1.5 ...

  Bloomberg US banks reporting their first profits under Donald Trump’s presidency are showing a split: Wall Street businesses are faring far better than some of those serving Main Street. The nation’s two biggest trading firms — JPMorgan Chase & Co. and Citigroup Inc. — posted surprisingly strong revenue from buying and selling securities in the first quarter, when political ...

  Dubai / Emirates Business Emirates NBD, a leading banking group in the region, became the first bank worldwide to pilot ‘KinTrans,’ a technology that enables easy two-way communication between sign language communicators with hearing disabilities, and people who use spoken languages. The bank’s commitment to people with disabilities supports the ‘#MyCommunity’ initiative launched by His Highness Sheikh Hamdan bin ...

  Bloomberg Britain’s major banks are making it tougher for consumers to get unsecured credit, which may slow the pace of lending that the Bank of England has identified as a risk to financial stability. In its Credit Conditions survey, the BOE said its measure of the availability of unsecured credit fell to minus 6.6 in the first quarter, to ...

  ABU DHABI / WAM The Union National Bank (UNB) on Wednesday reported a net profit of AED452 million in the first three months of 2017, compared to AED 450.0 million in the same period a year ago, according to the bank statement on April 12. Mohammad Nasr Abdeen, Chief Executive Officer, UNB, said, “The liquidity situation in the market ...

  Abu Dhabi / WAM Mashreq, a UAE-based bank, posted a three percent increase in the year 2017’s first quarter net profits, with earning per share reaching AED3.08 as of March 2017. The bank in a statement attributed the increase in net profits to AED 546 to a 15% decrease in impairment allowance, a 3.6 percent year-on-year decline in net interest ...

  Bloomberg ‘Short is sweet’ is the mantra at global banks advising investors on India’s sovereign-debt market. Deutsche Bank AG and Standard Chartered Plc are among lenders favoring front-end notes amid bets that a banking system awash with cash will help keep short-term rates in check, even as rising supply and the central bank’s hawkish tone threaten to push up ...

  Dubai / Emirates Business Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, announced its first quarter results for the period ended March 31, 2017. Group Net Profit increased to AED 1,042 million, up 4% compared with AED 1,001 million for the same period in ...

  Bloomberg Deutsche Bank AG Chief Executive Officer John Cryan said he plans to focus on restoring revenue growth after the lender raised 8 billion euros ($8.5 billion) from shareholders to bolster capital. In a letter to employees, Cryan said he will aim for “prudent growth,” even as cost reductions continue. While many investors and analysts in Europe were still ...

  Bloomberg With two weeks to go before a referendum that could remodel Turkey’s political landscape, the Central Bank of Turkey (TCMB) pushed interest rates to the upper reaches of its monetary framework and depleted its policy tool of choice: flexibility. The bank’s average interest rate was 11.47 percent, near the mathematical limit of its current funding mix. That leaves ...