Bloomberg Bank of Korea Governor Lee Ju-yeol signalled the likelihood of more interest rate increases to come following the hike, as the central bank clearly put inflation concerns ahead of uncertainties over Covid-19. Even though the key policy rate, now at 1.25%, is back at pre-pandemic levels, Lee said it was at an accommodative level, adding that another hike …

  Bloomberg Citigroup Inc. agreed to sell consumer-banking businesses in Indonesia, Malaysia, Thailand and Vietnam to United Overseas Bank Ltd. (UOB) for about S$4.9 billion ($3.6 billion) as Chief Executive Officer Jane Fraser continues her push to simplify the New York-based bank. UOB will pay Citigroup a cash consideration for the net assets of the acquired businesses plus a premium …

  Bloomberg The UK government has sold 170.4 million shares in NatWest Group Plc — worth about $580 million at current prices — since November, continuing to cut the majority stake it acquired during the financial crisis. The Treasury now owns a 51.98% stake in the lender formerly known as Royal Bank of Scotland, according to a filing. Its stake …