Bloomberg Banco Santander SA pledged to cut 1.2 billion euros ($1.4 billion) of annual costs and ramp up investment in digital and its prized Brazilian business as the Spanish lender seeks to revive its moribund share price. The Spanish banking group plans to achieve the incremental cost cuts over three to four years while investing 20 billion euros in digitalisation, …

Bloomberg UniCredit SpA is nearing an agreement with US authorities over allegations that the bank provided dollar-clearing services to Iranian clients in violation of US sanctions, people with the knowledge of the matter said. The deal would cost the Italian lender about $900 million but spare it from criminal prosecution, the people said. A settlement of that size would be …

Bloomberg Zimbabwe’s lenders, which include units of Standard Bank Group Ltd and Ecobank Ltd, appealed to the central bank to raise interest rates that have been capped at 12 percent for the past two years, saying this would increase lending in the collapsing economy. They also proposed that the Reserve Bank of Zimbabwe introduce an overnight rate to facilitate lending …