The French central bank said on Friday it had tapped into its risk provisions to absorb a pre-tax loss of more than 12 billion euros ($13.06 billion) last year, triggered by the impact of higher interest rates.
New bank lending in China fell more than expected in February from a record high the previous month, even as the central bank seeks to spur sluggish economic growth and fight deflationary pressures.
Bandhan Asset Management has taken the unique stop of investing in 30-year Indian government bonds due to the structural reduction in the risk profile of domestic fixed income and the fund house’s plan to cut reinvestment risks, its fixed income head said.
Top Indian asset managers showed delays, in some cases up to 30 days, in offloading a fourth of their small- and mid-cap portfolio, according to results from stress tests conducted by fund houses.
Euro zone’s largest bank BNP Paribas is considering a potential acquisition of Chinese conglomerate Fosun International’s stake in Belgian insurer Ageas , Bloomberg News reported on Thursday, citing people with knowledge of the matter.
Bank of America has made several leadership changes in its capital markets business, setting up a new advisory group called capital markets advisory in a bid to better align its offering amid a volatile macroeconomic and geopolitical environment, according to a memo seen by Reuters on Thursday.
JPMorgan Chase & Co has been fined $348.2 million by a pair of U.S. bank regulators over its inadequate program to monitor firm and client trading activities for market misconduct, the Federal Reserve announced on Thursday.
The Bank of England will start cutting borrowing costs in the third quarter although 40% of economists saw an earlier trim, according to a Reuters poll which showed it was more likely the first move is later than expected rather than sooner.
India’s banks have stopped silver imports after private traders bought large volumes of the precious metal from the United Arab Emirates to benefit from a lower duty, a total of five dealers and industry officials said.
Britain proposed a draft law on Thursday that will compel banks to give customers three months’ notice and an explanation before closing their accounts, after former Brexit Party leader Nigel Farage said last year he was ‘debanked’ on political grounds.
