Reuters Summit Bank has received approval from Pakistan’s central bank to conduct due diligence on Burj Bank, it said in a stock exchange filing, in the latest bid for the unlisted lender, which is seeking to boost capital through a stake sale. The acquisition of a majority shareholding in Burj Bank would fit the long term strategy of Summit …

  BLOOMBERG Commerzbank AG fell as much as 9.4 percent in Frankfurt, the most in almost three months, after market turmoil and a squeeze to margins hurt sales and halved first-quarter profit. Net income fell to 163 million euros ($188 million) from 338 million euros a year earlier, the Frankfurt-based company said in a statement on Tuesday. Analysts expected profit …

  Sydney / AFP ANZ Bank’s interim net profit slumped 22 percent on Tuesday on the back of impairment and restructuring charges, but the result was welcomed by the market as the lender repositions for a challenging future. The Australia and New Zealand Banking (ANZ) Group’s result for the six months to March 31 came in at Aus$2.73 billion (US$2.0 …