BLOOMBERG Bank of Montreal posted a surprise drop in fiscal second-quarter profit as it set aside a larger provision for loan losses than analysts had expected and trading revenue fell. The bank’s provision for credit losses of C$1.02 billion ($755 million) included an initial C$517 million on the performing loan portfolio of Bank of the West, the bank said in ...

BLOOMBERG DBS Group Holdings Ltd expects to achieve earnings of more than S$10 billion ($7.4 billion) in the medium term, driven by a strong balance sheet and an ongoing digital transformation. Return-on-equity is expected to be in a range of 15% to 17%, Southeast Asia’s biggest lender said in an investor day presentation, referring to a time frame of three ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, has issued a law establishing the Awqaf and Minors Affairs Authority (Amaa) in Abu Dhabi. Amaa will assume the responsibilities of the Social Care and Minors Affairs Foundation (SCMAF), with the transfer of all SCMAF’s assets, properties, rights ...