Bloomberg Saudi Arabia is exploring the possibility of granting more licenses to foreign banks and easing restrictions on their operations to boost growth in the private sector, people with knowledge of the matter said. The Saudi Arabian Monetary Agency, or SAMA as the central bank is known, is weighing proposals that would allow foreign banks to open more branches ...

  NEW YORK / AP Wells Fargo’s embattled CEO John Stumpf is stepping down as the nation’s second-largest bank is roiled by a scandal over its sales practices. The San Francisco bank said Stumpf is retiring effective immediately and also relinquishing his title as chairman. He won’t be receiving severance pay and the bank announced earlier that he will forfeit ...

  Milan / AFP UniCredit said on Thursday it had raised over half a billion euros as part of its latest asset sale, part of Italy’s largest bank’s effort to boost its funds without raising capital from shareholders. The 552 million euros ($609 million) from the sale of 20 percent of its online banking subsidiary Fineco will be used to ...