Banking

  Bloomberg One year after he split Deutsche Bank AG’s investment banking and trading units, John Cryan has put them back together with a familiar mandate: fewer clients and lower costs. Cryan, chief executive officer since 2015, said that the business will focus more on corporate clients and will pare the list of fund managers and other institutions it serves. ...

  Bloomberg Deutsche Bank AG’s supervisory board will meet to discuss a plan to raise more than 8 billion euros ($8.5 billion) as Chief Executive Officer John Cryan tackles concerns about capital levels, a person familiar with the matter said. The bank confirmed a Bloomberg News story that said the lender is planning an equity offering and the sale of ...

  Bloomberg When the biggest Nordic bank turned its subsidiaries into branches, regulators in Finland, Denmark and Norway complained they were left with too-big-to fail operations but no power to rein them in. Oversight was instead left to Sweden. But the full consequences of Nordea Bank AB’s decision to consolidate its Nordic operations are only gradually becoming clear. In a ...

  RABAT / Reuters Morocco’s central bank approved the use of five types of Islamic banking transaction, giving a final regulatory nod for the country to launch an Islamic finance industry. Islamic banks and insurers are setting up in Morocco after new legislation allowed them into the market, and the central bank has set up a central sharia board, a ...

  Bloomberg Russia’s central bank, on the prowl for mismanaged lenders as part of an unprecedented three-year cleanup, is picking up right where it left off. The regulator revoked the licenses of two lenders, including the nation’s 42nd-biggest, Tatfondbank PJSC, after efforts to save them collapsed amid evidence of fraud. The affiliated banks are based in Tatarstan, an oil-rich and ...

  Bloomberg A timeline for the end of European Central Bank stimulus is taking shape among economists. Policy makers will wait until at least June before upgrading their assessment of the risks to the euro-area recovery and won’t announce another reduction in bond purchases until September, according to most respondents in a Bloomberg survey. Tapering quantitative easing and starting to ...

  Bloomberg UK banks trying to keep access to European Union (EU) markets after Brexit will have to set up full-scale operations in the bloc, European Central Bank (ECB) Executive Board member Sabine Lautenschlaeger said. “I do not see the ECB issuing banking licenses to empty shell companies,” she said in a speech at the London School of Economics. “I ...

  Bloomberg Deutsche Bank AG is nearing a plan to boost capital by more than 10 billion euros ($10.6 billion) through an equity offering and the partial sale of its asset management unit, according to people with knowledge of the discussions. The measures, which executives may review as soon as this weekend, would be a way for the bank to ...

  Bloomberg Mexico’s new $20 billion plan to support the peso could prove a gift to some of the country’s biggest companies. The central bank will hold its first $1 billion auction of non-deliverable forward contracts on Monday, offering a way for businesses with expenses in dollars but revenue in local currency to hedge against further declines in the peso. ...

  Bloomberg Goldman Sachs Group Inc.’s dealmakers endured job cuts and a tough bonus season. Then the penny pinchers turned to their beloved phones. In a push to cut costs and shift employees from BlackBerry devices to personal mobile phones, the firm is imposing a new policy around the world for reimbursing data and calling expenses, according to an internal ...