Banking

  Bloomberg The rupee’s sharpest rally in almost a year is giving India’s central bank scope to take out an insurance policy for what could be a tumultuous 2017. A resumption of stock and bond inflows and a budget viewed as fiscally prudent and pro-growth spurred a 1.9 percent gain against the dollar in the last three weeks, the best ...

  Reuters Standard Chartered will consider whether it can restart correspondent banking relationships with Sudan following the proposed lifting of U.S. sanctions, a senior executive said. Anurag Bajaj, who oversees the British-based lender’s correspondent banking business, where it provides services for other banks, said the bank was reviewing the implications of last month’s move by the outgoing Obama administration to ...

  Bloomberg Bank of France Governor Francois Villeroy de Galhau cautioned French voters about the costs of withdrawing from the euro, noting that local interest rates are already rising on concerns about this year’s presidential election. National Front leader Marine Le Pen, who wants to take France out of the single European currency, is on track to place first in ...

    Bloomberg Oversea-Chinese Banking Corp., Southeast Asia’s second-largest lender, fell the most in six months in Singapore trading after its quarterly profit missed estimates amid a surge in bad-loan provisions. Net income fell 18 percent to S$789 million ($554 million) in the three months to December from a year earlier, the Singaporean bank said on Tuesday in an exchange ...

  Bloomberg China’s central bank restarted the use of an instrument that adds cash to the financial system, helping ease liquidity concerns before $153 billion of funds come due this week. The monetary authority sold a total 100 billion yuan ($14.5 billion) of reverse-repurchase agreements, the first auction after a six-day pause, a statement posted on its website showed. While ...

  Bloomberg Royal Bank of Scotland Group (RBS) is preparing to cut more than 1 billion pounds ($1.25 billion) of annual operating costs by eliminating jobs and closing branches as it seeks to bolster profitability, said a person with knowledge of the plans. While the Edinburgh-based lender probably won’t reveal a headline figure for role reductions, senior executives have determined ...

  Bloomberg Deutsche Bank AG, which last month settled charges that it helped investors launder money through its business in Moscow, remains under scrutiny in Russia over its tax practices. “As part of an ongoing routine audit, Deutsche Bank is working with Russian tax authorities on matters relating to standard business operations that follow normal industry practice,” the Frankfurt-based lender ...

  Bloomberg Indonesian business tycoon Tahir is keen to gain control of PT Bank Permata, a larger rival to his PT Bank Mayapada International, as he seeks to put his lender in the ranks of the nation’s biggest banks. Tahir’s Mayapada Group wants to buy the 90 percent of Permata that is owned by Standard Chartered Plc and PT Astra ...

  ANKARA / Reuters Turkey’s central bank will stick with unorthodox measures to keep borrowing costs at five-year highs at least until inflation peaks this year, according to people familiar with its thinking, despite sharp criticism from investors. The bank has long puzzled markets with a complex system of setting policy through multiple interest rates but it ratcheted up the ...

  Bloomberg The man running Svenska Handelsbanken AB, one of Sweden’s biggest banks, sees no reason to let Brexit upend his expansion plans in the UK. Anders Bouvin, chief executive officer of the Swedish bank known for its commitment to branches in a digital age, says his strategy is proving especially effective in attracting small UK businesses looking for funding. ...