Bloomberg Azerbaijan’s banking regulator gave the country’s lenders a month to draw up plans to end what it described as chronic violations of prudential norms, promising to clamp down on those failing to meet requirements, according to a document seen by Bloomberg. After 10 of 43 banks were already culled this year, the Financial Markets Supervisory Authority said in ...

  Bloomberg A potential headache for the European Central Bank is turning out to be a boon for holders of Germany’s negative-yielding bonds. For ECB officials looking for ways to avert a potential shortage of securities to acquire for their asset-purchase program, the publication of Germany’s draft budget Wednesday showing an almost 11 percent drop in planned borrowing wouldn’t have ...

  Bloomberg VTB Group, Russia’s second-biggest bank, boosted profit more than sixfold in the second quarter as the financial industry began to recover from a crisis. Net income increased to 16 billion rubles ($250 million) from 2.5 billion rubles a year earlier, the lender said in a statement on its website on Tuesday.Banking industry profits in Russia are heading back ...