Bloomberg The two-decade run of record profits at China’s biggest banks, which even survived the financial crisis, is facing its biggest test. Banks such as Industrial & Commercial Bank of China Ltd., the world’s largest by assets, are caught in a vise as their operations are hammered by the outbreak of the deadly coronavirus. At the same time, they are ...

Bloomberg South African banks are being criticised by labour unions and small business owners for not doing enough to help struggling customers as the coronavirus lockdown looms. “The response is quite underwhelming,” said Matthew Parks, a parliamentary coordinator for the Congress of South African Trade Unions. “There are too many ifs and buts. It’s hitting too few people. It’s just ...

Bloomberg PT Bank Rakyat Indonesia has revived its plan to sell a stake in its life insurance arm, which is attracting interest from suitors in a deal that could fetch about $500 million, according to people familiar with the matter. FWD Group Ltd., backed by Hong Kong billionaire Richard Li, and BNP Paribas Cardif SA are among potential bidders for ...