Banking

  Bloomberg Take Two at the Bank of England means action. That’s the conclusion of almost all economists surveyed by Bloomberg, who predict the central bank’s second decision since Britain’s vote to leave the European Union will involve an interest-rate cut. Such a move would see Governor Mark Carney delivering on his summer stimulus signal after officials shocked investors by ...

  Bloomberg Colombia’s central bank ignored a last minute plea by President Juan Manuel Santos and raised the benchmark interest rate for an 11th consecutive month as surging food prices pushed inflation to the fastest since 2000. In a split decision, the seven-member board voted to raise the key rate a quarter-point to 7.75 percent, central bank Governor Jose Dario ...

  Bloomberg Deutsche Bank AG scored higher in the European Banking Authority’s stress test this year than in 2014 in a sign that steps to bolster financial resilience are taking hold despite a tougher examination that took account of surging litigation costs. The company’s common equity Tier 1 ratio fell to 7.8 percent in the adverse scenario, measuring resilience to ...

  Bloomberg UBS Group AG’s Asia investment banking co-head, Saurabh Beniwal, is planning to leave as the bank trims senior management ranks in the region, people familiar with the matter said. Beniwal, who was appointed in November as co-head of corporate client solutions in Asia, will depart UBS by the end of this year, according to the people. Joseph Chee ...

  Bloomberg Lloyds Banking Group Plc will cut a further 3,000 jobs as it warned Britain’s vote to leave the European Union would hurt its ability to boost dividend payments. Pretax profit, excluding one-time items, fell to 4.16 billion pounds ($5.5 billion) in the first half of the year, from 4.27 billion pounds a year ago, the London-based bank said ...

  Bloomberg HSBC Holdings Plc is weighing the sale of a portfolio of Latin American client assets that are managed in Switzerland to Banco Santander SA as the British lender restructures its private bank, according to people familiar with the matter. Santander is interested in the portfolio, which could include $4 billion to $6 billion of assets under management, as ...

  Bloomberg Banco Bilbao Vizcaya Argentaria SA is preparing its second management reorganization in 14 months as Chairman Francisco Gonzalez streamlines Spain’s second-biggest lender and accelerates its push into digital banking. Units in Spain, Mexico, the U.S. and Turkey will report directly to Chief Executive Officer Carlos Torres under the new structure, with the remainder under the responsibility of a ...

  Bloomberg Deutsche Bank AG investors have grown accustomed to John Cryan’s blunt talk since he took the helm a year ago. He’s chastised bankers for their pay and described his employer as an “endemic underperformer.” But some were still surprised on Wednesday when the chief executive officer said unjustified doubts over Deutsche Bank’s financial strength had spooked some clients ...

  Bloomberg Deutsche Bank AG Chief Executive Officer John Cryan signaled Germany’s largest lender may have to deepen cost cuts after second-quarter profit was almost wiped out by a slump in trading revenue and costs tied to job reductions. The shares declined. Net income decreased to 18 million euros ($20 million) from 796 million euros a year earlier, the Frankfurt-based ...

  BLOOMBERG Europe’s stocks are far from cheap. That’s according to Robert Parkes, head of European equity strategy at HSBC Holdings Plc, who says the market is “fully valued and bordering on expensive.” To illustrate, he pointed to the MSCI Europe Index’s price-earnings ratio, which at about 20 times reported profit is near the highest since 2004. That’s even after ...