Hong Kong-listed asset manager Value Partners Group has cut about one-third of its China staff as it looks to restructure the business to boost profit amid weaker markets, two sources with direct knowledge of the matter told Reuters.
Fulton Financial’s shares pared gains on Monday after it launched a common stock offering to support its acquisition of the deposits and assets of Republic First from regulators, which marked the first U.S. bank failure of 2024.
Islamic Development Bank (IsDB) Group will provide $6.3 billion for financing projects in Turkey over the next two years, Finance Minister Mehmet Simsek was quoted as saying by the Anadolu news agency on Monday.
As China’s big banks pull back from financing Russia-related transactions, some Chinese companies are turning to small banks on the border and underground financing channels such as money brokers, even banned cryptocurrency.
Saudi National Bank (SNB), the Kingdom’s largest bank by assets, posted a marginal increase in first-quarter profit on Monday, as the lender was hit by higher operating expenses.
Deutsche Bank shares were down 6% by midday on Monday after news that a long-running lawsuit claiming it underpaid for its purchase of its giant Postbank division could cost up to 1.3 billion euros ($1.39 billion).
BBVA on Monday raised its net attributable profit growth guidance for 2024 after beating first-quarter earnings forecasts, as higher lending income in Mexico and Spain offset provisions in some emerging markets.
Norway’s $1.6 trillion sovereign wealth fund, one of the world’s largest investors, will support HSBC’s proposed bonus policy change for so-called material risk takers (MRTs), the Norwegian fund manager’s updated voting intentions showed on Monday.
Hong Kong-based insurer AIA Group on Monday posted a 31% rise in its first-quarter value of new business (VONB) on a constant exchange currency basis helped by strong performance across segments, and announced an additional $2 billion share buyback.
