Two of India’s largest bank employee unions on Tuesday urged the central bank to review and withdraw its recent decision to allow compromise settlements for wilful defaulters saying that such a move would hurt the integrity of the banking system.
Euro zone banks are sitting on relatively modest amounts of unrealised losses related to sharply higher interest rates, the European Central Bank’s top supervisor said on Tuesday, unveiling the results of a special information request from lenders.
Three former employees of Bank Julius Baer on Tuesday won an appeal against a proposed lifetime ban from Britain’s markets watchdog on working in finance.
Odey Asset Management (OAM) is closing one fund and restricting money clients can pull from another, two investor letters showed, just as the hedge fund was scrambling on Tuesday to keep its prime brokers from ending vital relationships with the firm.
World Bank President Ajay Banga wants the lender to focus on more “scalable, replicable” projects across Latin America and elsewhere for transport and infrastructure and digitization of government and financial services to speed development.
Russian state-owned lender VTB will see profit of “not less” than 400 billion roubles ($4.9 billion) in 2023 after a bumper first five months of the year and a record loss last year, CEO Andrei Kostin told Reuters in an interview.
HSBC has decided to wind down its wealth and personal banking business in New Zealand, the bank said on Tuesday, as it exits from less profitable businesses globally to focus on expanding in certain Asian markets.
SoftBank Group Corp is planning a fresh round of layoffs at its Vision Fund investment arm, two people familiar with the matter said, the latest cost-cutting move at the Japanese conglomerate.
UBS Asia Pacific co-head of wealth management, Amy Lo, has expanded her role to spend more time on key clients after the Swiss bank completed its takeover of Credit Suisse on Monday, according to an internal memo seen by Reuters.
