Banking

  Bloomberg UBS Group AG’s American wealth management unit has helped raise $110 million for a U.S. venture capital fund that will invest in companies in the health, education and environmental areas that are led by or co-managed by women. The fund is managed by Rethink Impact, a venture capital firm that invests in companies with a technological bent. Jenny ...

  Bloomberg Xiaoyin Zhang, the Goldman Sachs Group Inc. dealmaker who helped bring China’s three largest Internet companies to market, is leaving the firm. Zhang, a partner and head of the China technology, media and telecom group, is retiring after 15 years at Goldman, according to an internal memo obtained by Bloomberg. Connie Ling, a spokeswoman for the New York-based ...

  DUBAI / Reuters Bank AlJazira, one of the kingdom’s smaller banks, plans to raise its capital by 30 percent through a bonus share issue, it said. The bank said the capital increase to 5.2 billion riyals from 4 billion riyals ($1.07 billion) would be completed by issuing three new shares for every 10 shares held, paid for by capitalising ...

  Bloomberg IndusInd Bank Ltd, the lender backed by India’s billionaire Hinduja brothers, is in advanced talks to acquire micro-finance company Bharat Financial Inclusion Ltd in a share swap, people with knowledge of the matter said. The Mumbai-based IndusInd could announce the purchase in the next month, said the people, who asked not to be identified because the information is ...

  Bloomberg Some European banks are seeing their capital ratios come under pressure as the region’s top supervisor takes a more conservative view of their risk models. Last month, the European Central Bank raised the risk-weightings which determine capital at Finland’s biggest financial services group after finding “shortcomings” in its models. Lenders including Bank of Ireland have started to take ...

  Bloomberg Co-Operative Bank Plc, the British lender that put itself up for sale last month, said it might look to raise as much as 750 million pounds ($912 million) by selling new shares and converting debt to equity if a buyer isn’t found. The bank may seek about 300 million pounds by selling new stock while asking bondholders to ...

  Bloomberg China’s central bank plans to apply a stricter method for assessing banks’ capital as part of efforts to contain financial-sector risks, people with knowledge of the matter said. Under the proposed change to the so-called Macro Prudential Assessment (MPA) framework, the People’s Bank of China will remove an intermediary category in its evaluation of banks’ capital adequacy, the ...

  ABU DHABI / Emirates Business Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, will open its first branch in China next month, its chief executive said, as Gulf banks expand in the world’s second biggest economy. Union National has got approval from China’s central bank to convert its representative office into a branch in Shanghai, ...

  Bloomberg Indonesia’s central bank has cut borrowing costs enough to spur growth in the economy, Senior Deputy Governor Mirza Adityaswara said, giving his clearest signal yet that the bank’s easing policy is over as inflation pressures pick up. Boosting growth is “not about interest rates anymore,” Adityaswara said in an interview in Jakarta on Thursday. “We monitor the external ...

  Bloomberg For Mario Draghi, ‘all talk and no action’ at the European Central Bank may be just fine this week. The ECB president essentially preempted Thursday’s monetary policy decision back in December, when he announced that bond purchases will be extended until at least the end of 2017. With updated inflation forecasts said to be little changed for 2018 ...