Bloomberg Brian Moynihan’s efforts to boost Bank of America Corp. profit through cost cutting finally got some help from interest rates. The lender posted the highest net income in six years as the chief executive officer cut expenses more than forecast and net interest income rose to the highest since 2011. During his seven years as CEO, Moynihan has worked ...

Bloomberg FirstRand Ltd., Africa’s biggest lender by market value, offered to buy UK challenger bank Aldermore Group Plc for about 1.1 billion pounds ($1.4 billion). Shares in the British firm soared. Aldermore received ‘an indicative proposal’ from Johannesburg-based FirstRand of 313 pence per share, 37 percent more than its average share price this year, and directors at the UK lender ...

Bloomberg BNP Paribas SA plans to substantially increase the number of client advisers employed by its Asian wealth-management business, seeing an opportunity in the retreat of some European rivals from the region. BNP has been investing and hiring in Asia for several years and intends to continue its push, said Vincent Lecomte, co-head of the French bank’s wealth-management business. Asked ...