Standard Chartered on Monday lost a bid to cut from a London lawsuit allegations that it broke U.S. sanctions against Iran in a more widespread way than it has previously admitted.
Latin American e-commerce giant MercadoLibre’s fintech arm, Mercado Pago, has seen adoption of its slim mobile credit-card readers more than double in the past year, gaining on competing options from banks and Clip, an executive said.
Spanish bank BBVA Chairman Carlos Torres said on Monday one of the reasons behind its takeover bid for Sabadell was its significant market share in lending towards small and mid-sized companies, which it vowed to uphold.
Germany’s Deutsche Bank is buying a 1.67 billion euro ($1.79 billion) aviation loan portfolio from lender NordLB for an undisclosed price, the banks announced on Monday.
UBS will set aside around $900 million to repay investors in Credit Suisse funds that were linked to collapsed supply chain financing firm Greensill Capital, accounting for 90% of what they are owed, UBS said on Monday.
Dutch bank ING targets total income growth of between 4% and 5% per year until 2027, driven by an expected increase in revenues from net interest income and fees, while reduced loan losses should offset higher costs, the group said on Monday.
Six months ago the world’s major central banks were primed for a move that anyone with a credit card or hoping to buy a home or run a business would cheer: A global shift to lower interest rates that would make borrowing cheaper and loans more available across the board.
China still has room to lower interest rates, but its ability to adjust monetary policy faces internal and external constraints, the official Financial News said on Monday, citing industry experts.
A financial disclosure form for Federal Reserve Bank of Atlanta President Raphael Bostic notes more issues with reporting of past trading and investing activities.
Ethiopia will allow foreign banks to set up local subsidiaries and foreigners to acquire shares in domestic lenders, according to a bill approved by the cabinet on Friday, as part of the government’s broader plan to liberalise the economy.
