International Banking News
Banca Centrale: i dati del sistema al 31 marzo 2018

Ancora in calo la raccolta del risparmio e quella indiretta che al 31 marzo 2018 tocca quota 5 miliardi e 710 milioni di euro, circa 70 milioni in meno rispetto al 31 dicembre scorso San Marino. La Banca Centrale della Repubblica di San Marino ha diffuso nei giorni scorsi i dati trimestrali del sistema bancario sammarinese, i primi per quanto riguarda il 2018. Ancora in calo la raccolta del risparmio e quella indiretta che al 31 marzo 2018 tocca quota… (Continua a leggere)

How parliament can reform its ailing public sector banks

India needs a strategy to get the government out of banking. Non-performing loans among state-owned banks — a legacy of India’s socialist past which account for nearly 70 percent of deposits — have crossed 5 percent of GDP. The central bank has restricted lending at 11 of them and forced one, IDBI Bank Ltd., to sell itself to the government-owned Life Insurance Corporation of India. State banks have repeatedly been a burden on the exchequer and will almost certainly continue… (Continua a leggere)

SoftBank's Son says Japan is 'stupid' for not allowing ride-sharing

TOKYO  – SoftBank Group Corp Chief Executive Masayoshi Son slammed on Thursday the Japanese government’s ride-sharing ban and said the country had fallen behind overseas rivals in areas such as artificial intelligence and fintech. “Ride-sharing is prohibited by law in Japan. I can’t believe there is still such a stupid country,” said Son at an annual company event aimed at customers and suppliers. The comments reflect Son’s frustration with Japan where he built the cash engine that has powered his… (Continua a leggere)

BofA profit beats estimates on higher interest rates, loan growth

By Sweta Singh and Elizabeth Dilts (Reuters) – Bank of America (BAC.N) reported a 34 percent rise in first-quarter profit on Monday, topping Wall Street estimates, as the lender benefited from higher interest rates and growth in loans and deposits. Revenue rose at three of BofA’s four major businesses. In consumer banking, its biggest business, revenue increased 9 percent as higher interest rates helped BofA charge more for loans while keeping deposit rates low. Profit also got a boost from Chief… (Continua a leggere)

ECB Asks Deutsche Bank to Model Wind Down of Trading Book

By Steven Arons and Nicholas Comfort Source: Deutsche Bank AG has been asked by the European Central Bank to simulate an orderly wind-down of its trading book, Chief Financial Officer James von Moltke told Bloomberg Monday. “There’s no novelty about the exercise per se; the novelty is that we’re doing this with the ECB,” von Moltke said. The exercise will take several months, being “broader in scope” than previous ones done for U.K. and U.S. supervisors, he said. Modeling the wind-down of… (Continua a leggere)

UCO Bank Falls to 11-Year Low as India Probes Former Chairman

By Anto Antony Source: Former chairman, others allegedly cheated bank of $95 million Bank reported losses for nine straight quarters through Dec. UCO Bank dropped to its lowest in 11 years after India’s federal investigative agency registered a case against UCO’s former chairman for cheating the state-run lender. Shares of the Kolkata-based bank fell about 6 percent to 20.90 rupees in Mumbai on Monday, the lowest close since April 12, 2007. The 10-member Bankex index rose 0.3 percent. The Central… (Continua a leggere)

Goldman Sachs Says Emerging Markets Now Look Like Rich Countries

By Selcuk Gokoluk Source: Many emerging market economies have begun to resemble developed markets as inflation rates fall and the risk of currency crises recedes, according to Goldman Sachs Group Inc. The weakening relationship between emerging-market policy and U.S. rates suggests that Federal Reserve normalization is unlikely to result in a sharp hiking cycle by developing nations, Goldman Sachs analysts including Jan Hatzius and Jari Stehn wrote in a report. Emerging-market policy makers face a quandary as growth has picked… (Continua a leggere)

Bank of America’s Cost-Cutting Drive Pushes Profit to Record

By Laura J Keller Source: Lender posts best efficiency ratio in more than five years Net income jumps 30%, surpassing analysts’ estimates Bank of America Corp. hit a new milestone in its years-long effort to get costs under control. First-quarter expenses totaled about 60 percent of revenue, the best ratio in more than five years. That helped push profit above analysts’ estimates, and corporate tax cuts spurred earnings to a record. Net interest income got a bigger boost than expected… (Continua a leggere)

If Fed Moves Unlock Billions at Banks, Here’s Who Might Win Most

By Jesse Hamilton With assistance by Yalman Onaran Source: Last week’s propsals likely to help custody and regional firms As rules revamp takes shape, post-crisis changes here to stay How much Wall Street might actually benefit from President Donald Trump’s deregulatory agenda is coming into focus. Last week, federal agencies rolled out plans for overhauling some of the most significant constraints imposed on banks after the 2008 financial crisis: capital requirements that are meant to make lenders better equipped to… (Continua a leggere)

Betway Suspends BOE Governor Wagers After Influx of Bailey Bets

By David Goodman Source: An online oddsmaker has stopped taking bets on who will be the next Bank of England Governor after an influx of money on Andrew Bailey. Bailey, currently head of the Financial Conduct Authority, has long been considered a leading candidate to replace Mark Carney when he departs in June 2019. Betway had him placed at 9-to-1, before “huge support” in the past few days forced them to stop accepting new bets. The the head of the… (Continua a leggere)