World Bank President Ajay Banga said on Friday he plans to highlight a range of process improvements next week to speed up the development lender’s loan approvals, improve the accountability of its 16,000 employees and attract private capital to projects.
Nigerian banking group Guaranty Trust Holding Plc plans to seek shareholder approval next month to raise up to $750 million in capital, joining other banks in bolstering capital reserves to meet new targets.
Norway’s $1.6 trillion sovereign wealth fund, the world’s largest, should not be allowed to include private equity investments in its portfolio at this time, the government said on Friday, in a setback for the fund’s management.
MTS Bank, the fintech arm of Russia’s leading mobile phone operator MTS , announced on Friday it would hold an initial public offering (IPO), a rare occurrence for Russian banks hit with Western sanctions.
Russian companies are facing growing hurdles when making payments to China, two Russian news outlets reported on Friday, with one saying transactions involving electronics components were being affected.
Societe Generale said on Friday it had agreed the sale to Moroccan conglomerate Saham Group of Société Générale Marocaine de Banques and La Marocaine Vie for 745 million euros ($797.45 million), as part of a wider divestment strategy, lifting its shares by more than 2%.
Morgan Stanley’s wealth management arm is being probed by multiple regulators, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Goldman Sachs’ Chief Strategy Officer Carey Halio will replace Philip Berlinski as its global treasurer, the bank announced in an internal memo seen by Reuters on Thursday.
UBS might need to retain $10 billion to $15 billion in excess capital after Switzerland’s government this week laid out plans for tougher capital requirements for the enlarged lender, Autonomous Research estimated on Thursday.
