Banking

  Bloomberg Analysts scratching their heads over the impact on India’s banks of the country’s move to ban high-value notes have every right to be puzzled, as estimates offered by the chairman of State Bank of India indicate. The bank could retain anything from 15 percent to 40 percent of the deposit boost it received after the government withdrew about ...

  DUBAI / Reuters Saudi Arabia’s National Commercial Bank (NCB) reported a 7.5 percent rise in fourth-quarter net profit as the kingdom’s largest lender was boosted by higher income from commission and investments. The results are the strongest in four quarters for the bank, which like other lenders in the kingdom has seen its performance clipped by weaker activity as ...

  Bloomberg Rana Kapoor, the co-founder and chief executive officer of Yes Bank Ltd, has become a billionaire as shares in the lender jumped 16.4% this month, making it the best-performing stock among India’s banks. The Mumbai-based lender is benefiting from its low bad-loan ratio and robust return on equity, according to Alpesh Mehta, Mumbai-based analyst at Motilal Oswal Securities ...

  DUBAI / Reuters Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, met analysts’ average forecast as it reported a 2 percent rise in fourth-quarter net profit, according to reports. It made a net profit of 555 million riyals ($152 million) during the three months to Dec. 31, compared with 544 million riyals in the same ...

  Bloomberg Goldman Sachs Group Inc. reported fourth-quarter earnings that beat analysts’ estimates on a surge in bond-trading revenue as Donald Trump’s surprise victory fueled speculation economic growth will accelerate. Net income rose to $2.35 billion, or $5.08 a share, from $765 million, or $1.27 a year earlier, when the lender set aside $1.54 billion to pay a mortgage settlement, ...

  LONDON / Reuters Citigroup hired former British foreign minister William Hague to be a senior adviser to the Wall Street bank, as Britain prepares to negotiate its exit from the European Union. Banks and investment firms have a long history of recruiting former political leaders and policymakers as advisers, and the appointment of Hague follows that of Mervyn King, ...

  Bloomberg UBS Group AG’s Sergio Ermotti said he expects to add $50 billion in assets across wealth management and asset management this year as low interest rates limit how much new business the bank takes on. “We are very selective in the way we onboard net new money in terms of profitability,” he said in an interview with Bloomberg’s ...

  Bloomberg Deutsche Bank AG told senior employees on Wednesday that most of them won’t get an individual bonus for last year because of the lender’s performance. The decision affects vice presidents, directors and managing directors, as well as members of the management board, who will forgo their variable compensation, Frankfurt-based Deutsche Bank said Wednesday in a memo. A “limited ...

  Bloomberg Qatar National Bank (QNB), the largest bank in the Middle East and Africa by assets, is raising a $1 billion, three-year syndicated loan in the Asian bank market, sources familiar with the situation said on Wednesday. The Qatari lender is not new to the international loan market and has previously raised large debt facilities in both U.S. dollars ...

  Bloomberg Morgan Stanley reported an 83 percent increase in fourth-quarter profit as fixed-income trading revenue more than doubled, surpassing analysts’ estimates. Net income climbed to $1.67 billion, or 81 cents a share, from $908 million, or 39 cents, a year earlier, the New York-based company said on Tuesday in a statement. The 2015 figure includes a 4-cent accounting charge ...