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China’s ICBC suffers unexpected profit plunge

  Bloomberg Industrial & Commercial Bank of China Ltd., the world’s biggest lender by assets, let its bad-loan buffer sink further below a regulatory minimum to avoid reporting a bigger decline in third-quarter profit. ICBC’s bad-loan coverage ratio slumped to 136 percent, compared with a minimum of 150 percent, the bank told Hong Kong’s stock exchange. Net income fell 0.2 ...

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RBS warns on profit outlook

  Bloomberg Royal Bank of Scotland Group Plc reported a surprise jump in pretax earnings on the highest revenue at its investment bank in two years, while pushing out profitability targets on a weaker outlook and looming charges for misconduct. Pretax profit, excluding one-time costs, rose to 1.33 billion pounds ($1.6 billion), beating the 776 million-pound average estimate of seven ...

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Banking regulator reports major breach of confidential data

  Bloomberg A former supervisor working for the Office of the Comptroller of the Currency (OCC) downloaded confidential information on portable computer storage devices that haven’t yet been recovered, the agency said in a statement. Before retirement, the employee downloaded “more than 10,000 records” about the regulator’s activities and some personal information about staff members, the OCC said. The November ...

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