Indian private lender IndusInd Bank reported a bigger-than-expected rise in fourth-quarter profit on Monday, helped by strong loan growth and drop in provisions for bad loans.
Citigroup’s Asia wealth revenue surged 20% in the first quarter of 2023, backed by investment gains, insurance revenue and a jump in new private banking clients, according to a company spokesperson.
Switzerland’s UBS said on Monday it will retain Christian Bluhm as chief risk officer for the “foreseeable future” as it bolsters controls during the takeover of Credit Suisse.
Credit Suisse said on Monday that 61 billion Swiss francs ($68 billion) in assets left the bank in the first quarter and that outflows were continuing, underscoring the challenge faced by UBS Group in rescuing its rival.
HSBC’s most vocal individual activist shareholder Ken Lui on Monday said he had spoken for the first time with the bank’s largest investor, Ping An, about their controversial proposals to spin off the lender’s Asia business.
Indian private lender ICICI Bank on Saturday reported a near 30% increase in net profit for the fiscal fourth quarter ending in March, on the back of improved net interest income and healthy loan growth.
Deposits at all U.S. commercial banks dropped in the second week of April, though at smaller banks deposits held steady in a sign of stabilization in the financial institutions hardest hit by deposit outflows after last month’s failure of two large regional banks.
SVB Financial Group’s CEO and chief financial officer resigned this week while the collapsed lender’s restructuring committee appointed a turnaround expert as interim CFO, according to a regulatory filing on Friday.
Federal Reserve Governor Lisa Cook said Friday that the outlook for the next stage of central bank monetary policy has grown less clear after the institution has taken appropriately aggressive steps over the last year to lower price pressures.
