The U.S. Federal Reserve announced Monday it had fined UBS Group AG $268.5 million for Credit Suisse’s misconduct around its dealings with the defunct investment firm Archegos Capital Management.
The war of words between NatWest and erstwhile customer Nigel Farage has underscored the challenges global banks face in handling clients who could be defined as a politically exposed person, or PEP.
NatWest CEO Alison Rose stepped down with immediate effect on Wednesday after she admitted to a “serious error of judgment” in discussing former Brexit party leader Nigel Farage’s relationship with the bank with a BBC journalist.
The New Development Bank (NDB), the multilateral bank set up by the BRICS states, is not considering new projects in Russia as it operates in line with restrictions imposed in financial and capital markets, its head said on Wednesday.
India’s state-owned infrastructure finance company REC Ltd on Wednesday reported a 20.9% rise in first-quarter profit, helped by an increase in interest income on loan assets.
India’s Axis Bank Ltd reported a smaller-than-expected 40.5% growth in first-quarter profit on Wednesday, as a sharp surge in loan-loss provisions outstripped a jump in net interest income.
Brazilian lender Santander Brasil on Wednesday reported higher second-quarter net profit on a sequential basis but saw its results weigh on group performance as they remained well below last year’s levels.
Deutsche Bank on Wednesday said that it had hired 50 senior bankers in the origination and advisory business of its global investment bank and that a slump in activity affecting it and competitors was a thing of the past.
NatWest’s departing CEO Alison Rose until recently told colleagues she had weathered more than her fair share of crises, steering the state-backed lender through the COVID-19 pandemic and market fallout from war in Europe and chaos in Westminster.
