Private-credit firms are eyeing fresh opportunities from a potential borrowing squeeze in the United States as battered regional banks tighten lending after the turmoil in the sector, according to fund managers and investment strategists.
Italy’s Banca Mediolanum posted a sharp increase in its first-quarter net profit, boosted by resilient fees and a more than doubling of net interest income (NII), it said on Wednesday.
Federal prosecutors in Washington are looking into short seller activity around the recent volatility in U.S. bank shares sparked by the failure of three regional lenders since March, a source familiar with the matter said.
CICC Capital, a unit of leading Chinese investment bank CICC , has stopped using Capvision Partners’ services, three sources said, following an investigation into the “expert network” as part of Beijing’s crackdown on national security.
Bank of America has hired former BNP Paribas banker Benoit Nevouet to be the manager of a newly created Luxembourg branch as the U.S. lender seeks to grow its business in Europe, a senior executive at Bank of America told Reuters.
Dutch bank ABN Amro on Wednesday beat analyst expectations with a 77% jump in first-quarter net profit to 523 million euros ($576 million), helped by rising interest rates and lower costs.
Credit Agricole SA , France’s second-biggest listed bank, posted better-than-expected earnings on Wednesday, as market volatility boosted trading revenue.
SoftBank Group Corp reports earnings on Thursday amid an uptick in some stocks held by its Vision Fund unit, and with the market thirsty for details on its upcoming listing of Arm aimed at bolstering the investment company’s balance sheet.
Singapore’s second-biggest lender Oversea-Chinese Banking Corp (OCBC) joined bigger rival DBS Group in flagging a peak in interest rates after reporting record quarterly profit on Wednesday thanks to higher net interest margins.
SVB Financial Group will not be able to meet the U.S. Securities and Exchange Commission’s deadline for reporting its quarterly results, the bankrupt parent of Silicon Valley Bank disclosed in a filing on Tuesday.
