BOJ aimed to work with govt in regional bank scheme, minutes show
The Bank of Japan’s scheme to incentivise consolidation among regional banks was meant to show it was working alongside the government to tackle problems in the country’s banking system, minutes of the deliberations showed.
JPMorgan profit soars on recovery but questions linger over lending outlook, competition
JPMorgan Chase & Co (JPM.N) second-quarter profits jumped 155% as the U.S. economy continued to rebound, but executives warned on Tuesday that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.
JPMorgan’s profit more than doubles despite trading slump
JPMorgan Chase & Co (JPM.N) reported a 155% jump in profit on Tuesday, getting a boost from the release of loss reserves and a surge in dealmaking, even as the largest U.S. bank dealt with a sharp slowdown in trading activity from last year’s record-breaking levels.
EXCLUSIVE White House to target bank mergers, financial data with competition order
WASHINGTON, July 9 (Reuters) – President Joe Biden’s planned executive order to promote greater U.S. competition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals, according to a source familiar with the matter. It will also ask the Consumer Financial Protection […]
EXCLUSIVE Turkey’s banks set for capital healing after pandemic battle -sources
Turkey is considering a fresh capital injection for state banks but they also need a plan to deal with lingering bad debt after the lenders depleted their resources helping Ankara’s battle against COVID-19, senior bankers and government officials say.
Australia’s cbank tapers QE but affirms low rates outlook
Australia’s central bank on Tuesday took its first step towards tempering its massive stimulus as employment proves far stronger than previously expected, although actual rate hikes remain a distant prospect.
EXCLUSIVE Scandal-hit Credit Suisse considers creating single private bank -sources
Credit Suisse (CSGN.S) is considering centralising the management of its bankers to the world’s wealthy, replacing a regional structure, three sources said, as part of efforts to fast-track an overhaul after a series of scandals.
UBS joins peers to track how lending affects environment, jobs
A group of banks, including UBS (UBSG.S) and Singapore’s DBS (DBSM.SI), on Wednesday announced plans to create a new way of measuring the environmental and social impact of their financing.
Tencent-backed Linklogis, Sunway to jointly seek Malaysia digital bank licence-sources
Malaysian conglomerate Sunway Bhd (SWAY.KL) has teamed up with Tencent-backed Chinese fintech firm Linklogis Inc (9959.HK) and Bangkok Bank PCL (BBL.BK) to apply for a Malaysian digital bank licence, two sources with knowledge of the matter said.
More changes from Orcel’s shake-up of UniCredit due in coming weeks -sources
MILAN, June 29 (Reuters) – UniCredit (CRDI.MI) is set for further senior management changes in the coming weeks as part of new CEO Andrea Orcel’s reorganisation of Italy’s second biggest bank, two people close to the matter said. In May, less than a month after taking the job, Orcel announced an overhaul of top management, streamlining a […]
