Singapore’s biggest bank DBS Group will commit up to S$1 billion ($741.29 million) over the next 10 years to help improve the livelihoods of the low-income and underprivileged, its top executive said on Friday.
China’s new bank loans tumbled in July and other key credit gauges also weakened , even after policymakers cut interest rates and promised to roll out more support for the faltering economy.
GCP Infrastructure Investments said on Friday it had struck a deal to acquire the assets of GCP Asset Backed Income Fund (GABI) and was in talks with RM Infrastructure Income about a potential combination.
Swiss taxpayers are no longer on the hook over the rescue of Credit Suisse after UBS said on Friday it would not need the 9 billion francs ($10.3 billion) of state guarantees provided to smooth the takeover of its failing rival.
De Volksbank’s systems to prevent money laundering have been deemed insufficient by the Dutch central bank (DNB) and it will likely face a fine, the Dutch state-owned bank said on Friday.
Italy’s second-largest insurer UnipolSai on Friday said its first-half net profit had grown 2% from a year earlier, as higher premiums more than offset cost of claims in motor business and natural disaster.
UBS said in a memo to employees seen by Reuters on Friday that it would provide information on some more milestones it has reached in its merger with Credit Suisse as part of its second-quarter results on Aug. 31.
Colombian conglomerate Grupo Aval and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday.
Shares of Manulife Financial rose on Thursday after a rebound in insurance sales and profitable investment returns in their wealth unit powered an earnings beat, but Canada’s top insurer flagged risks from its office real estate exposures.
