Banking

  Bloomberg Goldman Sachs Group Inc. handed a surprise gift to bondholders in Canada this week by redeeming debt sooner than investors had expected, and some money managers are betting that other banks will follow its lead. The New York-based bank said that it was redeeming all of its $380 million in subordinated notes maturing in April 2022 for a ...

  Bloomberg Royal Bank of Canada (RBC), the country’s largest lender by assets, raised its dividend after posting first-quarter profit that beat analysts’ expectations, led by higher wealth-management earnings and a surge in trading revenue. Net income for the period ended Jan. 31 rose 24 percent to C$3.03 billion ($2.31 billion), or C$1.97 a share, from C$2.45 billion, or C$1.58, ...

  Bloomberg Standard Chartered Plc posted annual profit that missed analyst estimates as the bank took losses on a private-equity business it’s shutting down and said efforts to clean up conduct issues affected performance. The shares fell as much as 5.4 percent. Pretax profit for 2016 was $409 million, compared with a loss of $1.52 billion a year earlier, the ...

  Bloomberg Canadian Imperial Bank of Commerce climbed in Toronto trading after posting fiscal first-quarter profit that beat analysts’ estimates and raising its dividend for the ninth time in 10 quarters. CIBC shares advanced 2.1 percent to C$120.62 at 9:52 a.m., the best performance in the eight-company S&P/TSX Composite Commercial Banks Index, which gained 0.4 percent. The stock is trading ...

  Bloomberg Citigroup Inc. said U.S. authorities including the Securities and Exchange Commission are investigating the bank’s hiring of employees with ties to foreign government officials. The lender is cooperating with the probes, New York-based Citigroup said in an annual regulatory filing. The requests involve the Foreign Corrupt Practices Act, which makes it a crime to pay or give other ...

  Reuters Bank Muscat, Oman’s largest bank by assets, is raising $500 million through a syndicated loan, banking sources familiar with the situation said. The three-year loan refinances a $600 million facility maturing in March that the Omani lender raised in 2014. Bank Muscat’s refinancing facility offers an all-in pricing of 170 basis points over the London Interbank Offered Rate. ...

  Bloomberg Royal Bank of Canada (RBC) has undertaken a strategic review of its Asian wealth operations following management changes in the region, Chief Executive Officer David McKay said. McKay declined to say whether the Toronto-based bank is seeking a buyer for the business, though previous retreats in international wealth management have come after reviews were initiated. “We always do strategic ...

  Reuters Commercial Bank of Qatar (CBQ), the Gulf Arab state’s third-largest lender by assets, reported a 99 percent fall in fourth-quarter net profit, according to Reuters calculations. This meant it widely missed analysts forecasts as it was hit by provisions and weakness among its overseas investments. The bank earned a net profit of 1.4 million riyals ($384,499) in the ...

  Bloomberg Credit Suisse Group AG, the Swiss lender seeking a banking license in Saudi Arabia, allocated about $600 million of its own capital to expand its business in the kingdom, according to people familiar with the matter. The Zurich-based bank, which has a securities and equities business in the country, plans to use the capital to, among other things, ...

  Bloomberg Kenyan banks are in talks with the government about changing a law that caps commercial interest rates as lending in East Africa’s biggest economy slows, Barclays Bank of Kenya Ltd. Chief Executive Officer Jeremy Awori said. “Those dialogues are underway between the Kenya Bankers Association and members of parliament around what would work,” Awori said Wednesday in an ...