Banking

  Bloomberg European banks will probably dodge an attempt to force the separation of their investment banking and retail arms after the European Commission’s efforts to broker an agreement between lawmakers appear to have flopped. The European Parliament’s negotiating team failed to make progress on the so-called bank structural reform bill in a meeting with commission Vice President Valdis Dombrovskis ...

  Bloomberg Lloyds Banking Group Plc, Britain’s largest mortgage lender, posted a 15 percent decline in third-quarter profit as it took a 1 billion-pound ($1.2 billion) charge to compensate customers who were wrongly sold loan insurance. The bank’s shares fell as much as 3.8 percent as impairments climbed more than most estimates while an accounting change drove an improvement in ...

  Bloomberg Julius Baer Group Ltd., DBS Group Holdings Ltd. and LGT Bank are considering bids for ABN Amro Group NV’s private-banking business in Asia, people with knowledge of the matter said. The banks have expressed interest in the ABN Amro unit and will study more detailed information on its business, according to the people, who asked not to be ...

  Bloomberg Swedbank AB’s profit jumped 23 percent in the third quarter, exceeding analysts’ expectations, as Sweden’s biggest mortgage lender generated more revenue while keeping impairments in check. Net income in the three months through September reached 4.82 billion kronor ($541 million), compared with 3.93 billion kronor a year earlier, the Stockholm-based bank said on Tuesday. That was well above ...

  MILAN / AP Troubled Italian bank Monte dei Paschi di Siena unveiled on Tuesday a restructuring plan that will include new management, thousands of job cuts, hundreds of branch closings and the disposal of soured loans in a bid to entice investors to inject up to 5 billion euros ($5.5 billion) in new capital. CEO Marco Morelli said the ...

  Bloomberg Long-term sterling bonds suggest investors are quickly losing confidence in the Bank of England’s (BOE) ability to support debt markets through the UK’s departure from the European Union. Holders have lost about 10 percent in as little as seven weeks on long-dated notes issued by Vodafone Group Plc, British American Tobacco Plc and WPP Plc. The bond sales ...

  Bloomberg Bahrain-based alternative investor Investcorp Bank BSC agreed to buy the debt management arm of 3i Group Plc, more than doubling its assets under management. Investcorp has agreed to pay $271 million for the business, the company said in a statement on Tuesday. The 3i unit will add $12 billion to the firm’s assets under management, bringing Investcorp’s total ...

  Bloomberg TD Ameritrade Holding Corp. and its largest stakeholder, Toronto-Dominion Bank, agreed to buy Scottrade Financial Services Inc. for $4 billion, combining two of the largest online brokerages while expanding the U.S. operations of Canada’s second-largest lender. TD Ameritrade agreed to acquire Scottrade’s brokerage operations for about $2.7 billion. Toronto-Dominion, which owns about 42 percent of TD Ameritrade, will ...

  Bloomberg The Bank of Japan (BOJ) expressed concern that some banks may take excessive risks to maintain profitability while the ability of others to lend could weaken following the introduction of its negative interest-rate policy. Banks are less able to make up for declining profitability of domestic lending because the areas that had supported earnings, such as low bad-loan ...

  Bloomberg China’s money market is showing increasing signs of a shortage of cash, with interest-rate swaps climbing to a six-month high and banks paying higher interest to obtain government funds. The cost of one-year swaps rose as much as four basis points to 2.67 percent in Shanghai, the most expensive since April 29, while the benchmark seven-day repurchase rate ...