First Republic Bank’s advisers have already lined up potential purchasers of new stock in the lender if they can fix the bank’s balance sheet, CNBC reported on Wednesday, citing sources.
First Republic Bank’s shares fell nearly 10% in premarket trading on Wednesday as analysts highlighted concerns about the troubled lender’s plans to turn around its business.
Ping An Insurance (Group) Co of China Ltd saw a 48.9% rise in first-quarter net profit as its investment income improved, China’s largest insurer by market value reported on Wednesday.
Win Bischoff, who was among the most influential and celebrated financiers of his generation, has died at the age of 81, prompting tributes from the industry he helped shape.
Growing wealth inequality and rise of the digital economy may well have combined to undermine the entire banking system – in an intriguing connection that potentially helps tie up some loose ends in world markets.
Lloyd’s of London expects insurers will eventually reach a settlement with aircraft lessors over claims made over the loss of hundreds of aircraft stuck in Russia, the commercial insurance market’s chairman was quoted as saying on Wednesday.
Russian state-owned bank VTB will launch a digital bank within the mobile messaging app of leading social network VKontakte, Russia’s answer to Facebook, as Moscow seeks technological solutions to disrupted banking transfers.
India’s AU Small Finance Bank expects to grow its loan book by 27% to 28% in this financial year, aided by high credit demand in the country, its managing director and chief executive officer told Reuters on Tuesday.
London-listed hedge fund Man Group reported more than $1 billion of net flows into its funds in the first quarter and a small increase in the value of its assets, over a period that included global banking market turmoil in March.
Jupiter Fund Management said on Wednesday its chair Nichola Pease has decided to step down from its board with immediate effect, citing personal reasons, after around three years of service in the role.
