Banking

  Bloomberg Access Bank Plc is predicting that the level of troubled loans in Nigeria will continue to climb before an economic recovery in the second half of the year brings relief to the country’s lenders. “Across the entire industry you’ll see an uptick in non-performing loan ratios,” Chief Executive Officer Herbert Wigwe said in an interview in Lagos, the ...

  Bloomberg Deutsche Bank AG is supposed to give relief to subprime mortgage borrowers as part of a $7.2 billion settlement with the US government. It is considering an unusual approach to meeting that requirement: lending money to private equity firms and hedge funds. Germany’s biggest bank, dogged last year by questions about its capital levels, is exploring ways to ...

  DUBAI / Reuters Qatar’s central bank said on Thursday it had sold 1.4 billion riyals ($385 million) of Treasury bills at a monthly auction this week, with yields rising from December’s auction. It sold 750 million riyals of three-month bills at a yield of 1.84 percent, 500 million riyals of six-month at 2.06 percent and 150 million riyals of ...

  Bloomberg Watch out for the unexpected in commodities in 2017. Barclays Plc said raw materials markets from energy to metals face the high likelihood of disruptions, giving a laundry list of possible threats including a default by Venezuela, riots in Chile and a trade war with China. “The new politics of populism and protectionist trade policies have the potential ...

  Bloomberg The world is getting more hazardous for skeptical analysts, the banks that employ them and investors who rely on their published research. Even by the rough-and-tumble standards of emerging markets, Indonesia’s punishment of JPMorgan Chase & Co. this week for a bearish analysis of the nation’s stock market stands out. The country’s finance ministry cut business ties with ...

  Bloomberg Indonesia won’t stop JPMorgan Chase & Co. from conducting private-sector business in the country, a finance ministry official said, days after the government severed commercial ties with the US bank for cutting its assessment of the nation’s stocks. “For business here, JPM is still allowed to operate just like other banks,” Suahasil Nazara, head of the fiscal agency ...

  Bloomberg China’s benchmark money-market rate declined the most in two years after the central bank took measures to ease a liquidity crunch. The benchmark seven-day repurchase rate fell 37 basis points to 2.30 percent, according to weighted average prices from the National Interbank Funding Center. The average interbank repo rate surged to a 20-month high in December on a ...

  Bloomberg Yeo Jiawei, a former BSI SA banker found guilty of attempting to tamper with witnesses in a Singapore probe linked to 1Malaysia Development Bhd., will appeal his conviction and sentence, according to his lawyer. Yeo, 34, was sentenced on Dec. 22 to a 30-month jail term, the longest yet handed down by the city’s courts in 1MDB-related cases. ...

  Bloomberg The Federal Reserve’s plan to further withdraw support for the US economy will ease pressure on other major central banks to keep up their own ‘aggressive’ monetary stimulus, former Reserve Bank of India Governor Raghuram Rajan said. “I think with the Federal Reserve seeing limited room for continued accommodation and starting to raise interest rates, I think you ...

  Bloomberg Australia & New Zealand Banking Corp. agreed to sell its 20 percent stake in Shanghai Rural Commercial Bank Co. for A$1.84 billion ($1.33 billion), Chief Executive Officer Shayne Elliott’s latest move to unwind an Asian expansion that sapped profits. China Cosco Shipping Corp. and Shanghai Sino-Poland Enterprise Management Development Corp. will buy 10 percent each, the Melbourne-based company ...