Bloomberg State Bank of India, the country’s largest lender by assets, picked Bank of America Corp. and Deutsche Bank AG to arrange a share sale that could raise about $2 billion, people with knowledge of the matter said. The lender also chose IIFL Holdings Ltd., Kotak Mahindra Bank Ltd., JM Financial Ltd. and SBI Capital Markets Ltd. to work on …

Bloomberg Royal Bank of Canada’s (RCB) acquisition of City National Bank is paying dividends. The Los Angeles-based lender contributed C$77 million ($57 million) in profit for the fiscal second quarter, helping fuel a 12 percent jump in earnings for Royal Bank’s wealth-management division. This marks the fifth quarter of results since the Canadian lender bought Hollywood’s “bank to the stars” …

Bloomberg The Philippine central bank isn’t in a race to raise interest rates, incoming governor Nestor Espenilla said, despite economists’ predictions the country will be the first in Southeast Asia to do so. “It’s not a race to raise interest rates,” Espenilla, 58, deputy governor in charge of bank supervision, said in an interview. “Is it time to raise interest …