Bloomberg ICICI Prudential Life Insurance Co. attracted strong demand for its initial public offering of as much as 60.6 billion rupees ($904 million), as the nation’s biggest such deal in six years drew orders of more than 6.5 times the amount of stock for sale. Institutional investors subscribed to about 7.82 times the number of shares reserved for them, …

  Bloomberg The euro area’s biggest banks will face “indicative” requirements for loss-absorbing funds this year to avoid confusion as global and European regulators wrap up work on new standards, according to Elke Koenig, head of the Single Resolution Board. The Brussels-based SRB, the resolution authority for 142 banks including Deutsche Bank AG and BNP Paribas SA, will use the …

  Bloomberg Canadian Imperial Bank of Commerce, National Australia Bank Ltd. and Bank Leumi Le-Israel Ltd. formed an alliance to develop technologies faster and cheaper amid an industrywide shift toward digital banking. The three lenders agreed to share information, co-develop products and services and swap employees in areas of payments, digital banking, cyber security and emerging financial technology, according to …