Banking

  Bloomberg Australia & New Zealand Banking Group Ltd raised US$1 billion with the first offshore sale by an Aussie bank of hybrid bonds that qualify as additional tier 1 capital under the current regulatory regime. The perpetual contingent convertible securities, which can be called by the issuer from June 2026 onward, were priced in the US currency market at ...

  BLOOMBERG India’s privately owned banks are extending new loans faster than their state-run rivals for the first time ever, as government lenders struggle to bring surging bad loans under control. New credit from private lenders amounted to 3.5 trillion rupees (US$52.4 billion) in the year to March 31, taking their outstanding advances to 17.9 trillion rupees, while state banks’ ...

  Bloomberg The main lending unit of Japan’s biggest bank may quit as one of the 22 primary dealers that underwrite auctions of the nation’s bonds, potentially becoming the first major financial firm to withdraw since the Bank of Japan introduced negative interest rates this year. Bank of Tokyo-Mitsubishi UFJ Ltd is considering the move and nothing has been decided, ...

  Bloomberg The yuan’s pricing mechanism is increasingly transparent and its rate against a basket of currencies may alternate between appreciation and depreciation, according to Ma Jun, chief economist of the People’s Bank of China’s research bureau. Since the spring festival holiday in February, changes in the yuan’s central parity rate against the dollar have been closely aligned with the ...

  Bloomberg Standard Chartered Plc, the London-based bank that generates most of its income from Asia, is seeking to double operating profit at its Pakistan unit within five years as the country’s economy grows and banks churn out more loans. The bank is targeting an advance to deposit ratio of at least 45 percent in 12 months from 35 percent ...

  Bloomberg June is out. July might be too soon. The Federal Reserve’s next interest-rate increase is coming, but even September isn’t a sure bet. That’s the message investors and economists are taking from Chair Janet Yellen’s remarks. Her comments were the last the public will hear from a Fed official before the central bank’s policy-setting meeting next week. In ...

  BLOOMBERG Deutsche Bank AG Chief Executive Officer John Cryan said Germany’s largest lender is abandoning plans for a new digital bank in the US, led by Henry Ritchotte, just months after it was announced. While the team under Ritchotte developed an “excellent blueprint” for the service in the US, Deutsche Bank decided that the project would “divert resources from ...

  Bloomberg Zimbabwe’s central bank threatened to cancel the licenses of banks and foreign-currency dealers found to have violated new exchange-control regulations aimed at easing a dollar shortage. The Reserve Bank of Zimbabwe last week sent a directive changing the way banks and other authorized foreign-currency dealers are required to handle export earnings, adding measures aimed at encouraging companies to ...

  AFP India’s central bank chief Raghuram Rajan joked on Tuesday that it would be ‘cruel’ to end intense speculation surrounding his future as he held interest rates in the world’s fastest-growing large economy. The Indian media is abuzz with predictions about whether the popular central banker, often dubbed ‘Rockstar Rajan’, will be given a second three-year term as governor ...

  Bloomberg Six Taiwanese banks filed a lawsuit against a unit of Nomura Holdings Inc, saying it failed to extend its portion of a syndicated loan to a now-insolvent shoemaker, Ultrasonic AG. Nomura International (Hong Kong) Ltd, part of Japan’s biggest brokerage, was sued in the Taipei District Court, according to Winnie Chang, a Taipei-based spokeswoman for Cathay United Bank. ...