Barclays named Stephen Pick of Credit Suisse as the new head of its mergers and acquisitions (M&A) business in the Europe, the Middle East and Africa (EMEA) region on Monday.
Truist Financial posted a 13.5% fall in first-quarter adjusted profit on Monday as the lender’s interest income shrank on higher costs of retaining customer deposits and subdued loan demand.
German financial watchdog BaFin has ordered Commerzbank to pay a fine of 1.45 million euros ($1.55 million) for breaching its anti-money laundering duties, the regulator said on Monday.
India’s largest private lender HDFC Bank has surprised on deposit mobilisation and margin expansion despite a lower than expected fourth-quarter profit, analysts said.
Investors should get a clearer picture this week of whether higher interest rates are still boosting European bank profits or if a year-long share price rally will run out of steam.
Australian financial conglomerate Macquarie Group said on Monday its banking and financial services unit will stop new car loans through direct, broker and novated lease channels in a bid to prioritise growth of home loan and deposit offerings.
Layoffs under Swiss banking giant UBS’s cost-cutting programme announced after its takeover of Credit Suisse will take place in five waves this year starting in June, newspaper SonntagsZeitung reported on Sunday.
The Inter-American Development Bank on Saturday said leaders of 10 multilateral development banks committed to take action in five critical areas, including additional lending headroom totaling $300-400 billion over the next decade.
The steering committee for both International Monetary Fund and the World Bank on Saturday emphasized the need for broader accountability as the institutions implemented reforms to help countries grapple with climate change and other shocks.
