Reuters Samba Financial Group, Saudi Arabia’s third-largest bank by assets, reported a 1.4 percent drop in first-quarter net profit on Tuesday, in line with analyst forecasts. The bank made a profit of 1.26 billion riyals ($336.1 million) in the three months to March 31, down from 1.28 billion riyals in the same period a year earlier, it said in ...

  Bloomberg Citigroup Inc. said it has named Gerald Keefe as its Hong Kong-based head of corporate banking for the Asia-Pacific region, a newly created role. Keefe, currently head of corporate banking for Japan, will take on responsibilities for Citigroup bankers in the region dealing with companies, financial institutions and public-sector entities, according to a press release. Agnes Liew, another ...

  Moscow / Reuters The New Development Bank (NDB), formed by the BRICS group of emerging nations, has approved its first loans — $811 million for renewable energy projects in Brazil, China, India and South Africa, Russian news agencies reported last week. The BRICS bank, with authorised capital of $100 billion, started work last year on funding initiatives for infrastructure ...