Banking

  Bloomberg CRDB Bank Plc, the largest bank in Tanzania, expects to reduce its non-performing loan ratio to meet a central bank threshold as it shifts its focus to the retail business, Managing Director Charles Kimei said. The lender’s ratio of non-performing loans will fall to 6 percent this year from 8.1 percent a year earlier, when tobacco marketing groups ...

  Bloomberg Brazil’s finance minister nominated Itau Unibanco Holding SA’s chief economist Ilan Goldfajn to head Brazil’s central bank and proposed a constitutional amendment to grant the top monetary authority operational autonomy. Finance Minister Henrique Meirelles also said that Goldfajn, who must still be confirmed by the Senate, would not form part of Acting President Michel Temer’s cabinet and that ...

  Bloomberg Bank Pekao SA slumped to a two week low after 50.3-percent owner UniCredit SpA was said to be considering selling a stake in Poland’s second-largest lender among other measures to boost capital. The shares in Pekao fell as much as 3 percent and traded 2.1 percent lower at 148.4 zloty in Warsaw, making the bank the second-biggest loser ...

  JAKARTA / Reuters Suriname’s Trust Bank hopes to complete a conversion of its operations to Islamic banking by the end of this year, becoming the first full-fledged Islamic bank in South America, its chief executive said. Last week the bank received approval in principle from the central bank for the transition, as it aims to expand financing to small ...

  LONDON / Reuters International financial messaging service SWIFT has directed all its client banks to share information on attacks on the system to help prevent hacking, after criminals recently used SWIFT messages to steal nearly $81 million from the Bangladesh central bank. It was reported earlier that Wells Fargo , Ecuador’s Banco del Austro (BDA) and Citibank, whose managing ...

  Bloomberg Yapi ve Kredi Bankasi AS fell most in more than 11 months after a report UniCredit SpA may sell its stake in Turkey’s fourth-largest listed lender. Yapi Kredi Bank declined 5.6 percent to 3.72 liras at close in Istanbul, the biggest decline since June 8. The stock also pared its gains for 2016 to 13.1 percent. UniCredit SA, ...

  BLOOMBERG UBS Group AG is trimming some positions at the investment bank as part of a plan to reduce costs across the business in response to a revenue slump, according to people with knowledge of the situation. At least a dozen London-based employees in the securities unit lost their jobs this week, said the people, declining to be identified ...

  BRUSSELS / Reuters The European Investment Bank (EIB) wants to make more loans outside the 28-nation European Union to help tackle the migration crisis and will present plans to European Union leaders at their next meeting in June, its president said in a recent interview. Werner Hoyer cited rules that say the bank must lend 90 percent of its ...

  Madrid / Bloomberg Spain’s state-rescued lender Bankia said it has paid out 1.2 billion euros ($1.35 billion) in compensation to small investors who bought into its failed stock market listing in 2011. The bank returned money to over 190,000 people, either through its own claims scheme or following legal challenges, it said in one of the recently released statements. ...

  Bloomberg Delinquent loans at Indian state banks are rising unabated. Surging bad debt and higher provisions to cover for them caused 10 Indian state-owned lenders to report combined losses of Rs.153 billion ($2.3 billion) for the March quarter. The latest was Punjab National Bank, which reported a wider-than-estimated loss of Rs.53.7 billion this week. State Bank of India, the ...