Banking

  Bloomberg Credit Suisse Group AG increased its bonus pool 6 percent, defying a trend toward smaller payouts at many of its peers in an effort to prevent an exodus of talent from its investment banking and Asian operations. The bank awarded 3.09 billion francs ($3.1 billion) in incentive pay for 2016, according to its annual report, even as charges ...

  Bloomberg Germany’s state-owned development bank KfW, which gained publicity for erroneously transferring hundreds of millions of euros to Lehman Brothers the day the U.S. firm filed for bankruptcy, has done it again. KfW in February mistakenly transferred more than 5 billion euros ($5.4 billion) to four banks because of a technical glitch that repeated single payments multiple times, according ...

  Bloomberg The standing of the China-led Asian Infrastructure Investment Bank (AIIB) is set to receive another boost after 13 further applicants were granted membership. The accessions will bring the total roster of member countries to 70, and leave Japan and the US as the only Group of Seven states without a stake in the lender. Memberships for Afghanistan, Armenia, ...

  Bloomberg Malaysia’s central bank said this year will be another challenging one for monetary policy as inflation pressure builds and risks loom over the economy. Gross domestic product is forecast to expand 4.3 percent to 4.8 percent this year, Bank Negara Malaysia said in its annual report in Kuala Lumpur on Thursday. That compares with the government’s earlier forecast ...

  Reuters Commercial Bank of Qatar (CBQ) is in talks with banks about a potential international bond issue that will most likely be denominated in US dollars, sources familiar with the matter said. If the deal goes ahead, CBQ would join a growing number of banks from the region tapping the international debt markets this year with the aim of ...

  Bloomberg The UK Financial Conduct Authority re-opened its investigation into Barclays Plc’s 2008 emergency fundraising from Qatar despite issuing a fine in the case four years ago, as charging decisions from a parallel criminal case are set to be announced imminently, according to a person familiar with the probe. The FCA called in a number of people for interviews ...

  DUBAI / WAM The Securities and Commodities Authority (SCA) issued a certificate completing the merger of the First Gulf Bank (FGB) and the National Bank of Abu Dhabi (NBAD). The SCA has set March 30 as the last date for trading the respective shares of the two banks ahead of starting trading of new shares on Abu Dhabi Securities ...

  Bloomberg This week’s squeeze in Chinese money markets is proving especially painful for the country’s shadow banks. While interbank borrowing rates have climbed across the board, the surge has been unusually steep for non-bank institutions, including securities companies and investment firms. They’re now paying what amounts to a record premium for short-term funds relative to large Chinese banks, according ...

  Bloomberg Deutsche Bank AG is expected to be fined by the Federal Reserve and New York’s Department of Financial Services for its conduct in the foreign exchange market, a person familiar with the matter said. The German lender said that the US Justice Department had closed a criminal inquiry into its currency-trading activities without action. But regulators are in ...

  Bloomberg With the management and shareholders of one of Russia’s biggest regional lenders deep in unsuccessful talks with the central bank about how to save it from collapse last November, an obscure company in Dublin sold $60 million of bonds on its behalf. The amount wasn’t nearly enough to cover the estimated 97 billion ruble ($1.6 billion) hole in ...