Bloomberg UBS Group AG Chairman Axel Weber said that the bank doesn’t expect to combine any time soon with Credit Suisse Group AG because of recent executive changes at the two lenders and the time needed to undertake such a complex transaction. His comments follow an interview by Credit Suisse departing chairman, Urs Rohner at the weekend, who gave the …

Bloomberg Societe Generale SA expects to cut annual costs by about 450 million euros ($545 million) by combining its French retail operations with its Credit du Nord subsidiary, as Chief Executive Officer Frederic Oudea seeks to bolster profitability. The number of branches in the merged division will fall by about 600 to 1,500 by 2025, the bank said in a …

Bloomberg The fortunes of India’s shadow lenders have been improving amid early signs Asia’s third-largest economy is rebounding from an unprecedented recession. Two of four indicators compiled by Bloomberg that reflect the state of shadow banks strengthened last month from October. Shares of such firms that are part of the benchmark S&P BSE 500 index jumped two levels higher. The …