Shares of New York Community Bancorp plunged 41% on Wednesday after the lender slashed its quarterly dividend and posted a surprise loss for the last three months of the year.
Swiss wealth manager Julius Baer is discussing replacing one or more members of its senior leadership team including CEO Philipp Rickenbacher, Bloomberg News reported on Wednesday, citing people familiar with the matter.
South African lender Absa Group is positioning to benefit as private Chinese firms increase their investment in Africa, the head of the bank’s international business told Reuters.
Mastercard projected annual costs ahead of analysts’ expectations on Wednesday after the payments processor beat holiday quarter profit estimates on resilient spending.
A handful of U.S. financial industry heavyweights are cutting jobs to sharpen focus on their core businesses and put themselves on an even keel, after pursuing aggressive growth during the low interest rate-era led to some overhiring.
Abu Dhabi Commercial Bank posted a 38% rise in fourth-quarter profit on Wednesday, beating analysts’ forecasts, after higher interest and financing income, as well as a one-off gain from the sale of its property unit.
Net inflows of foreign direct investment (FDI) to Saudi Arabia reached 11.4 billion riyals ($2.93 billion) in the third quarter last year, down 10% from the second quarter, government data showed on Wednesday.
The Polish unit of Santander Bank on Wednesday posted a 9% rise in its preliminary fourth-quarter net profit that just missed analyst expectations due to higher legal costs for foreign currency mortgage loans.
Austria’s Raiffeisen Bank International (RBI) , the biggest Western bank in Russia, on Wednesday reported a 67% drop in fourth quarter profit, below expectations, hurt in part by losses related to Swiss franc-denominated loans in Poland.
