Canada’s TD Bank and Canadian Imperial Bank of Commerce on Thursday beat analysts’ estimates for quarterly profit, driven by strong loan volumes and growth in deposits at home.
South Africa’s FirstRand Ltd expects to generate earnings in the second half that are similar to the first half, which rose by 6%, and anticipates softer overall loan growth due to high interest rates and persistent elevated inflation.
Metro Bank named Barclays executive Marc Page as its chief financial officer on Thursday, succeeding James Hopkinson who announced plans to step down last month.
Switzerland must strengthen its banking controls, a global financial watchdog said on Thursday, highlighting the risk a failure of UBS would pose to the country in the starkest warning yet of the perils from its takeover of Credit Suisse.
The European Central Bank will continue putting a “floor” under market interest rates in the years to come, but banks will play a greater role in deciding how much liquidity they want, four sources told Reuters.
Morgan Stanley is opening an office in Abu Dhabi, adding to its regional presence and joining a string of other global investment banks that have set up offices in the United Arab Emirates (UAE) capital.
Troubled German lender Aareal said on Thursday that a quarter of its 4 billion euros ($4.3 billion) in loans for U.S. offices were likely to go unpaid and that there could be worse to come as a property rout takes hold.
Bank of Japan board member Hajime Takata said the central bank must consider overhauling its ultra-loose monetary policy, including an exit from negative interest rates and bond yield control.
