Banking

  Bloomberg Bank of America Corp. appointed Jiro Seguchi to head its brokerage and banking units in Japan from June 1, replacing Tim Latimore. Seguchi, co-head of global corporate and investment banking in the Asia-Pacific region, will move to Tokyo from Hong Kong to add the new role as country executive for Japan, according to an internal memo obtained by ...

  Bloomberg UBS Group AG hired Brevan Howard Asset Management LLP’s Arend Kapteyn as chief economist of its investment bank. Kapteyn will join the Swiss lender on August 1 in London and will report to global head of investment bank research Juan Luis Perez, according to an internal memo obtained by Bloomberg News. A spokesman for the bank confirmed the ...

  Bloomberg Selling shares in an Italian bank today, as one fund manager put it to Gadfly, is like selling black shoes in spring time—a tough exercise. Carlo Messina, CEO of one of the banks overseeing the IPO of Veneto Banca, a troubled Italian lender struggling to meet European Central Bank requests to boost capital, has given his own grim ...

  Moscow / AFP Russia’s second largest bank VTB on Monday announced a return to profit in the first quarter, saying “stabilisation” in the Russian economy had boosted revenues, although by less than analysts had expected. Between January and March, state-controlled VTB posted a net profit of 600 million rubles ($9.24 million), after a 18.3-billion-ruble loss in the same period last ...

  Bloomberg Bank of Baroda (BoB) shares slumped the most in almost nine months after the Indian lender reported a surprise quarterly loss and its chief executive officer flagged an increase in bad loans over the coming months. Shares of the nation’s second-largest state bank sank 8.3 percent to 142.30 rupees in Mumbai. Analysts at Deutsche Bank AG, Jefferies India ...

  Tokyo / AFP The Bank of Japan’s shock negative rate policy is taking a bite out of profits at major banks, with Mitsubishi UFJ on Monday warning over its bottom line. The huge lender said its net profit fell 8.0 percent to 951.4 billion yen ($8.7 billion) in the fiscal year to March, blaming the drop on a slowdown in ...

  Bloomberg Buyout firm Abraaj Group is leading a group of investors planning to bid for a minority stake in Barclays Plc’s African unit, according to people familiar with the matter. Abraaj is working with financial advisers and is in discussions to team up with other investors, the people said, asking not to be identified as the information is private. ...

  DUBAI / Reuters The subscription period for National Bank of Kuwait’s proposed capital increase will commence on Wednesday, the Gulf state’s largest commercial lender said in a bourse statement. The rights issue will be worth around 137.6 million dinars ($473.2 million) according to Reuters calculations. The subscription period will close on June 16, the bourse statement from the lender ...

  DUBAI / Reuters India has approached Turkey’s Halkbank to faciliate the payment of $6.5 billion to Iran, which it owes for crude oil imports, Iran’s Fars news agency quoted India’s ambassador to Tehran as saying on Saturday. “The Indian government is seeking to pay the $6.5 billion debt and is looking to prepare the banking activities. The receiving bank ...

  Bloomberg Emirates Islamic Bank PJSC, Dubai’s second-biggest Shariah-compliant lender, has mandated banks including HSBC Holdings Plc for the sale of Islamic bonds, according to two people familiar with the issue. The sale of the dollar-denominated, benchmark-sized securities may begin as early as this week, said the people, asking not to be identified because the information is private. Standard Chartered ...