Banking

  Bloomberg UBS Group AG handed out the smallest bonuses in four years and lowered Chief Executive Officer Sergio Ermotti’s payout as profit slumped last year. The bank cut the bonus pool for 2016 by 17 percent to 2.9 billion Swiss francs ($2.9 billion), according to its annual report. Ermotti, 56, remains the highest-paid executive at the Zurich-based lender, with ...

  Bloomberg Egypt’s external finances improved following the Nov. 3 decision to float the pound, the central bank said, as inflows from investments, remittances and exports picked up. The balance of payments surplus grew to $5.1 billion in the October to December period, from $1.9 billion in the previous quarter, the regulator said in a statement on its website. The ...

  Bloomberg The European Central Bank doesn’t plan to announce a new round of free long-term loans to financial institutions after its policy meeting, according to people familiar with the issue. Targeted longer-term refinancing operations (TLTROs) won’t be renewed for now, the people said, asking not to be named because the Governing Council’s deliberations are private. That stance could still ...

  Bloomberg Royal Bank of Scotland Group Plc is preparing to sell loan books and cut lending to some Western European corporate clients as part of plans to bolster its balance sheet and improve returns. The UK government-owned lender may divest commercial real estate loans in chunks of 300 million pounds ($365 million) to 400 million pounds to help reach ...

  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 ...