Bloomberg Nordea Bank Abp said the pressure of negative interest rates and a tougher regulatory environment will force it to review its financial targets this year after delivering a set of quarterly results it characterised as “not satisfactory.” The environment has changed, “with expected lower rates for longer,” Nordea said. On top of that, management is awaiting “more clarity on …

Bloomberg A German smartphone bank backed by billionaires Peter Thiel and Li Ka-shing has raised new funds at a valuation of $3.5 billion, making the company one of Europe’s highest valued non-listed fintech firms. N26 GmbH extended its Series D funding round by $170 million to a total $470 million, the Berlin-based company said. The round was originally announced in …

Bloomberg A 78 percent drop in Yes Bank Ltd shares since August has left founder and former chief executive officer Rana Kapoor some $1 billion poorer. The Indian lender, which reported earnings that showed its capital buffers had weakened and bad loan ratio widened, plunged as much as 20 percent. That’s contributed to a drop in Kapoor’s net worth to …