UBS Global Research raised its year-end target for the benchmark S&P 500 index to 5,600 points on Tuesday, marking the highest forecast among major brokerages.
First International Bank of Israel (FIBI) reported on Tuesday a 10% decline in quarterly net profit, and said it was in a strong position to face the country’s security challenges.
Bank of Nova Scotia on Tuesday reported better than expected quarterly earnings, boosted by rises in brokerage revenue in Canada and mutual fund fees overseas and by higher capital markets income.
Banks and insurers are making more requests to U.S. credit agencies for ratings on their risky loans to private equity funds that are secured against the value of their portfolio investments and cash flows that come from them.
The European Central Bank is streamlining its health checks on the euro zone’s banks, allowing it to train its focus on pressing lapses and get tough on laggards.
Leumi , one of Israel’s two largest banks, reported on Tuesday a near tripling in first-quarter net profit, boosted by a one-time capital gain and a drop in provisions against loan defaults.
The private banking arm of Italian bank Mediobanca said it would start offering its wealthier clients a new, illiquid open-ended alternative fund set up by investment firm KKR .
UBS has ruled out appointing an outsider as the successor to CEO Sergio Ermotti, and plans to choose from a shortlist of three internal candidates when he steps down in about three years, the Financial Times reported on Monday.
U.S. Treasury Secretary Janet Yellen said on Friday that she believes the White House will move as quickly as possible to nominate a new Federal Deposit Insurance Corp chair to replace Martin Gruenberg, who tendered his resignation amid a sexual harassment scandal.
U.S. Treasury Secretary Janet Yellen told Reuters that European banks face growing risks operating in Russia and the U.S. is looking at strengthening its secondary sanctions on banks found to be aiding transactions for Russia’s war effort.
