Banking

  Bloomberg Indian Bank, a century-old state-owned lender based in the country’s south, has emerged as Asia’s top-performing bank stock in the past year, driven by a focus on consumer loans that are less likely to sour than corporate advances. The Chennai-based firm is aiming to boost retail lending, which includes mortgages and loans underpinned by gold as collateral, to ...

  Bloomberg New Zealand central bank (RNBZ) governor Graeme Wheeler will step down when his term ends in September and hand the reins to a deputy until a permanent successor is appointed in 2018. Deputy Governor Grant Spencer will helm the Reserve Bank for six months after Wheeler departs on Sept. 26, Finance Minister Steven Joyce said on Tuesday in Wellington, ...

  MILAN / Reuters UniCredit began Italy’s biggest corporate share sale in an attempt to raise 13 billion euros ($14 billion) to rebuild the bank’s capital after a balance sheet clean up. Banks in Italy have been struggling to deal with bad loans left behind by a deep recession, leading to a series of capital raisings and consolidation in the ...

  Bloomberg National Bank of Canada has set a goal of being a ‘Top 3’ Canadian investment bank within five years, setting up a showdown with bigger rivals as the Montreal-based lender seeks to win more business from the nation’s largest companies. “We think we can compete,” Yanick Blanchard, head of corporate and investment banking at National Bank Financial, said ...

  Bloomberg ABN Amro NV plans cut 60 of its 100 senior management jobs and reduce the number of top executives by more than half in a revamp that reflects the bank’s shrinking size. A new management board will include the heads of retail, commercial, corporate and institutional, and private banking, the Amsterdam-based lender said in a statement on Monday. ...

  Bloomberg Bank stocks continued a rally sparked by the Trump administration’s plan to roll back financial regulations, while the dollar fluctuated as investors weighed the prospects for a Federal Reserve rate increase in March. Equities from India to Japan climbed after the S&P 500 Index closed within a point of its all-time high. Mitsubishi UFJ Financial Group Inc. jumped ...

  Bloomberg With some of Europe’s largest banks still struggling to boost profitability and raise dividends, BNP Paribas SA is doing both. That helps explain why investors have driven the shares to the highest in almost a decade. The Paris-based lender will probably report on Tuesday that fourth-quarter net income more than doubled to 1.63 billion euros ($1.75 billion), according ...

  Bloomberg Lloyds Banking Group Plc is poised to pay more in bonuses than Royal Bank of Scotland Group Plc for the first time since the financial crisis, underscoring the contrasting performances of two of Britain’s bailed out banks. Lloyds has earmarked about 390 million pounds ($486.8 million) for its employee bonus pot, overtaking RBS, which is considering a pool ...

  Dubai / Emirates Business Mashreq, the market leader in innovation, recently added two new advanced safety features to its Card Control service, integrated to its award-winning mobile banking app – Mashreq Snapp. Both the features are launched for the first time in the UAE. The two new features ‘Block by Country’ and ‘Block by Merchant Category’ are aimed at ...

  AP Deutsche Bank, Germany’s largest lender, has apologized in full-page German newspaper ads for misconduct that has cost the company billions. The ad, signed by CEO John Cryan on behalf of the bank’s top management, ran in the Frankfurter Allgemeine Zeitung and the Munich-based Sueddeutsche Zeitung. The bank said its past conduct “not only cost us money, but also ...