Banking

  Bloomberg European banks need to sell hundreds of billions of euros in loss-absorbing liabilities over the next few years to meet European Union rules designed to protect taxpayers from the cost of bank failures. The European Banking Authority estimates as much as 470 billion euros (US$517 billion) of financing is needed under the most conservative assumptions for what qualifies ...

  Bloomberg Nordea Bank AB expects pressure on its lending income to abate as Chief Executive Officer Casper von Koskull predicts the rest of the year will show an improvement in the bank’s results. “Despite low growth and turbulent financial markets, revenues are holding up well,” Chief Executive Officer Casper von Koskull said in the statement. “Margin pressure in net ...

  BLOOMBERG Deutsche Bank AG expects the UK to lose its ‘passporting’ rights, which allows banks to sell their services in the European Union, after the country voted to leave the trade bloc, Business Insider reported, citing an internal document. In the confidential note prepared for a July 5 board meeting, Deutsche Bank sees a “first-mover advantage” because a “synchronised ...

  Bloomberg Skye Bank Plc, whose top management was replaced by regulators this month, surged for a second day following a report that a major debtor reached an agreement that may help it repay the Nigerian lender. The stock closed up 9.1 percent to 72 kobo in Lagos, the best performer on the 171-member Nigerian Stock Exchange All-Share Index. Almost ...

  Bloomberg The European Union’s top court backed EU guidelines designed to prevent taxpayers from footing the bill for bailing out stricken lenders, strengthening the hand of Brussels regulators as Italy fights to shield some bondholders caught up in the nation’s banking crisis. Tuesday’s decision is a show of support for the European Commission, which updated its crisis rules for ...

  Bloomberg Bank of America (BofA) Corp. posted higher profit in each of its four main businesses as bond-trading revenue increased more than analysts estimated and expenses fell. The second-biggest US bank by assets led financial stocks higher this week after reporting earnings per share of 36 cents, beating the 33-cent average estimate of analysts. Net income dropped 21 percent ...

  Bloomberg State Bank of India and Indian Overseas Bank are among 13 state-owned Indian lenders that will receive a total of 229.2 billion rupees ($3.4 billion) in capital as the government seeks to contain risks in the banking industry while sustaining credit growth. The State Bank of India will get 75.8 billion rupees, while Indian Overseas Bank will receive ...

  Bloomberg Rollo Roscow has maxed out his holdings of Sberbank PJSC, the Russian lender that has surged as much 119 percent from late January. If he had his way, he’d probably buy more. The advance in the London-traded stock comes after a 46 percent rally in 2015 and has been driven by a rebound in oil prices and a ...

  BLOOMBERG Bank of East Asia (BEA) Ltd. shares dropped the most in two weeks in Hong Kong after Elliott Management started legal action alleging that the family-run lender acted improperly when issuing stock, which it says diluted minority investors and entrenched management control. The stock sank as much as 2.8 percent on Tuesday, the biggest intraday slide since July ...

  Frankfurt / AFP Europe’s financial sector is showing further signs of mending and banks are increasingly competing for custom by easing credit standards, a key European Central Bank survey showed on Tuesday. The ECB said its quarterly bank lending survey (BLS) showed banks are easing credit standards for loans to companies. However, this is an encouraging sign, since the ...