Bloomberg DBS Holdings Group Ltd. cut Chief Executive Officer (CEO) Piyush Gupta’s total 2020 compensation by 24% after Singapore’s largest lender posted its first annual drop in profit for four years. The bank slashed Gupta’s bonus by 27%, resulting in a 24% decline in his overall compensation to S$9.2 million ($6.8 million) for the 2020 performance year, down from S$12.1 …

Bloomberg UBS Group AG expects the coronavirus pandemic to further boost consolidation in the banking sector amid increasing threats from low interest rates and intensified competition. “There are likely to be more mergers and acquisitions in the US and especially the European Union, with growing regulatory appetite,” UBS said in its annual report. Switzerland’s biggest bank also said it sees …

Bloomberg Poland’s central bank governor questioned the determination of commercial lenders to resolve their foreign-currency loans, saying there’s almost a zero percent chance of the industry working together to finalise out-of-court settlements. The central bank withdrew its observer from negotiations to iron out the deal, proposed by the financial regulator, and doesn’t have any ownership over the process, Governor Adam …