Bloomberg India has asked its central bank to prepare a list of candidates for merger among 21 government-controlled lenders as it seeks to strengthen a banking system laden with bad debt, people familiar with the matter said. In a meeting this month, finance ministry officials also asked the Reserve Bank of India to suggest a time frame for the consolidation, ...

Bloomberg Westpac Banking Corp. raised its key mortgage rate, the first of the nation’s biggest banks to decide passing on higher funding costs is worth the risk of further reputational damage. Its variable standard home-loan rate for owner occupiers will rise 14 basis points to 5.38 percent, the Sydney-based lender said in a statement. The move reflects “a sustained increase ...

Bloomberg China’s biggest banks posted stable earnings growth in the second quarter, boosted by tighter liquidity even as the broader sector struggled with government policies. Profits at four of the five largest lenders rose at least 5 percent in the three months through June, as President Xi Jinping’s crackdown on riskier financiers pushed business to large state-connected banks. The results ...