Bloomberg Citigroup Inc and Wells Fargo & Co reported second-quarter profit dropped from a year earlier as persistently low interest rates continued to squeeze lending margins. Citigroup reduced its forecast for net interest margin, the difference between what a bank charges for loans and pays depositors, while Wells Fargo said the UK’s vote to leave the European Union will ...

  Bloomberg A leading US banking regulator wants lenders to do more to manage their exposure to commercial real estate. As property lending accelerates, the Office of the Comptroller of the Currency — which oversees American banks alongside the Federal Reserve Board and the Federal Deposit Insurance Corp — is actively monitoring banks’ stress tests and risk-management practices, Comptroller Thomas ...

  Bloomberg South Korea’s won rose to a two-month high after Bank of Korea Governor Lee Ju Yeol kept interest rates at a record low and said the government’s stimulus will boost growth by about 0.2 percentage point. Policy makers voted unanimously to leave the seven-day repurchase rate at 1.25 percent, as expected by all 20 economists surveyed. While South ...