FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) has declined a request by prominent U.S. senators to provide information about the German lender’s recent business dealings with U.S. President Donald Trump and his family, according to a letter this week seen by ... More »
MILAN (Reuters) – The Bank of Italy “positively” fulfilled its supervision duties and is ready to account for its actions on failing lender Banca Popolare di Bari, Governor Ignazio Visco told Corriere della Sera daily in an interview published on Monday. Prose... More »
(Reuters) – Tesco’s (TSCO.L) financial arm intends to appoint John Kingman, the businessman who oversaw Britain’s bailout of its banks during the financial crisis, as its chairman, a source with knowledge of the matter told Reuters. Tesco Bank on Monday appoin... More »
BENGALURU (Reuters) – Indian private sector lender Yes Bank (YESB.NS) is in talks with Microsoft Corp (MSFT.O) and two other technology companies as it looks to bring in a strategic shareholder as part of a strategy to rake in fresh capital, the Mint newspaper... More »
LONDON (Reuters) – Deutsche Bank said on Wednesday it still sees a 50% chance that Britain will leave the European Union without a deal by the end of the year following a general election, but said there’s a 20% chance of a “surprise” agreement later this mont... More »
BERLIN (Reuters) – Dagmar Valcarcel, a legal expert, will join Deutsche Bank’s supervisory board, German newspaper Handelsblatt said on Wednesday without naming its sources. The newspaper said the position had become free because Stefan Simon was moving into t... More »
ZURICH (Reuters) – With other parts of its business facing hefty cuts, Deutsche Bank wants to expand its European operations handling the assets of rich clients and take market share from rivals after staunching the outflow of assets. Hiring new client relatio... More »
FRANKFURT/SYDNEY/HONG KONG (Reuters) – Deutsche Bank (DBKGn.DE) shares rose on Monday as it launched one of the biggest overhauls of its investment bank since the financial crisis by cutting 18,000 jobs around the world, starting the day with cuts in Asia. The... More »
ZURICH (Reuters) – Investment banking conditions have improved over recent months but remains “very fragile,” UBS Chief Executive Sergio Ermotti said on Thursday, adding the Swiss lender’s own business was performing in line with the industry. “In March we sta... More »
WASHINGTON (Reuters) – Anti-money laundering specialists at Deutsche Bank AG recommended in 2016 and 2017 that multiple transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial-c... More »
FRANKFURT (Reuters) – Deutsche Bank denied a report that said some of its executives rejected the advice of the bank’s own anti-money laundering specialists and prevented some transactions involving entities controlled by President Donald Trump and his son-in-... More »
BRUSSELS (Reuters) – Euro zone banking watchdogs said banks planning mergers should make sure they could be wound down in a crisis, a warning likely to resonate with executives seeking to merge German giants Deutsche Bank and Commerzbank. The two lenders confi... More »
STOCKHOLM (Reuters) – Swedbank said on Tuesday it had hired external forensic auditors to investigate information in a media report linking the bank to a Baltic money laundering scandal, replacing recently appointed audit firm EY. Sweden’s public broadcaster a... More »
NEW YORK (Reuters) – Deutsche Bank has hired Bank of America Corp’s Robert Innocentin as a managing director within its financial sponsors group, according to a memo seen by Reuters on Monday. Innocentin will join Deutsche Bank in May after four years as a man... More »
NEW YORK (Reuters) – Hedge fund investor Doug Kass said on Wednesday that he is adding to his already large bank exposure in Citigroup Inc, JPMorgan Chase & Co, Bank of America Corp and Wells Fargo & Co as Deutsche Bank AG’s problems “will benefit large U.S. m... More »
GUWAHATI, India (Reuters) – When bank technicians in India were finally summoned to investigate why an ATM (automated teller machine) had not been working for days, they began to smell a rat. What they found inside the ATM was almost $18,000 worth of shredded ... More »
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) plans to cut 10,000 jobs, or about a tenth of its global workforce, as part of efforts to reduce costs, a person with knowledge of the matter said on Wednesday. The German bank’s supervisory board met on Wednesday... More »
SYDNEY (Reuters) – Australia and New Zealand Banking Group Ltd (ANZ.AX) said it would stop paying financial planners bonuses for selling its products, the first of the country’s top lenders to change business practices amid a powerful inquiry into misconduct i... More »
(Reuters) – Deutsche Bank AG will shift its New York headquarters from Wall Street to a location midtown, at a time when Germany’s largest bank is scaling back its U.S. operations. The bank will relocate to One Columbus Circle from 60 Wall Street, according to... More »
(Reuters) – Australia and New Zealand Banking Group (ANZ) said it would book a loss of A$632 million ($484 million) on the divestment of two of its wealth businesses last year, which will be reflected in its half-year results. It sold its OnePath pensions and ... More »
(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 bus... More »
LONDON (Reuters) – HSBC (HSBA.L) said on Monday it would create a single regional structure for its private bank in Europe which includes its businesses in the UK, Channel Islands, France, Germany, Switzerland and Luxembourg. The new structure, which will be c... More »
BENGALURU (Reuters) – Shares of ICICI Bank, India’s third-largest lender, plunged 7 percent to a five-month low on Monday after media reported its lending practices were the subject of a police investigation. ICICI Bank’s shares were down 6.3 percent at 260.75... More »
(Reuters) – Bank of America Corp said on Thursday it will grow its wealth management offering for mainstream investors by opening 600 new Merrill Edge centers and adding 300 new brokers in the next two years. Merrill Edge is a division of the bank that serves ... More »
NEW DELHI (Reuters) – Punjab National Bank, India’s second-largest state-run lender, sought to soothe investors on Thursday after the discovery of a $1.77 billion scam at a single branch sent its shares plunging and raised fears about the scale of fraud in the... More »
A pigeon flies past the logo of Punjab National Bank outside a branch of the bank in New Delhi, India February 15, 2018. REUTERS/Adnan Abidi NEW DELHI (Reuters) – India’s federal police has sealed the Mumbai branch of Punjab National Bank (PNBK.NS) at the cent... More »
A pigeon flies past the logo of Punjab National Bank outside a branch of the bank in New Delhi, India February 15, 2018. REUTERS/Adnan Abidi NEW DELHI/MUMBAI (Reuters) – The Punjab National Bank branch in south Mumbai sits just down the road from both the Bomb... More »
FILE PHOTO: A man using a mobile phone passes the logo of global secure financial messaging services cooperative SWIFT at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren /File Photo MUMBAI (Reuters... More »
People stand in front of the logo of Punjab National Bank outside a branch of the bank in New Delhi, India February 15, 2018. REUTERS/Adnan Abidi NEW DELHI/MUMBAI (Reuters) – Indian investigators raided the offices of jewelry retailer Gitanjali on Friday in a ... More »
NEW DELHI (Reuters) – India’s fraud-hit Punjab National Bank (PNBK.NS) is considering monetizing its real estate assets, including a giant office space in New Delhi worth an estimated 50 billion rupees ($778.63 million), a bank source with direct knowledge of ... More »
Deutsche Bank building before the bank’s annual news conference in Frankfurt, Germany, February 2, 2018. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – Deutsche Bank on Friday posted its third consecutive annual loss in 2017, taking a hit from challenging market... More »
Deutsche Bank CEO John Cryan poses before the bank’s annual news conference in Frankfurt, Germany, February 2, 2018. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – Deutsche Bank expects its costs to decline by only 4 percent to 23 billion euros ($28.8 billion) t... More »
FILE PHOTO: The corporate logo of financial firm Morgan Stanley is pictured on the company’s world headquarters in New York, U.S. April 17, 2017. REUTERS/Shannon Stapleton/File Photo (Reuters) – Morgan Stanley reported quarterly results on Thursday, rounding o... More »
The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby Yip NEW YORK (Reuters) – Bank of America Merrill Lynch banned clients from investing in one of bitcoin mogul Barry Silbert’s top fund... More »
FILE PHOTO: The Citibank building is seen in the financial district of Canary Wharf in London, Britain January 19, 2017. REUTERS/Kevin Coombs /File Photo (Reuters) – Citi Private Bank (CPB), a unit of Citigroup Inc that caters to wealthy individuals and famili... More »
Britain's financial watchdog said it had fined Bank of America's Merrill Lynch 34.5 million pounds ($45.5 million) for failing to report 68.5 million exchange traded derivative transactions between February 2014 and 2016. More »
Australia and New Zealand Banking Group Ltd has sold its pension unit to IOOF Holdings for A$975 million ($766 million), joining the rush of Australian banks quitting non-core and scandal-hit divisions to boost capital. More »
Israel's Bank Hapoalim said on Tuesday the amount it may have to pay in a future settlement with U.S. authorities in a tax evasion probe could be "significantly higher" than previously thought and the provision for it may have to be raised. More »
Liechtenstein's LGT Bank, owned by the mini-state's ruling family, hopes to stand out in Asia's crowded private banking market by touting the clan's own track record of preserving wealth. More »
Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade. More »
FILE PHOTO: The headquarters of Germany’s Deutsche Bank is seen early evening in Frankfurt, Germany, January 26, 2016. Deutsche Bank has exchanged a pre-let agreement for its new City of London headquarters, the building’s developer Land Securities said on Tue... More »
FILE PHOTO: The logo of Deutsche Bank is seen at its headquarters ahead of the bank’s annual general meeting in Frankfurt, Germany May 18, 2017. REUTERS/Ralph Orlowski/File Photo Deutsche Bank AG’s (DBKGn.DE) wealth management division said on Monday it plans ... More »
The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby Yip Bank of America Corp’s Merrill Lynch will stop paying the big upfront bonuses that Wall Street brokerages have long used to lure ... More »
Bank of America Corp’s brokerage, Merrill Lynch, said on Thursday it will roll out a commissions-paying retirement account compatible with a new U.S. Labor Department regulation that raises the standards for client care. More »
Bank of America’s (BAC.N) wealth business reported revenue climbed 3 percent to $4.6 billion in the first quarter this year from last year on higher client assets under management and fees, Bank of America Chief Financial Officer Paul Donofrio said Tuesday. More »
A worker washes windows high atop the Merrill Lynch building in downtown San Diego, California September 1, 2015. REUTERS/Mike Blake Merrill Lynch, a unit of Bank of America Corp, may not entirely do away with its commission-based retirement accounts, after Tr... More »
Brian Moynihan, Chairman of the Board and CEO of Bank of America Corporation attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 20, 2017. REUTERS/Ruben Sprich Bank of America Corp’s (BAC.N) board awarded Chief Executive Officer... More »
A Bank Of America sign is pictured in the Manhattan borough of New York August 21, 2014. REUTERS/Carlo Allegri Bank of America Corp has opened three completely automated branches over the past month, where customers can use ATMs and have video conferences with... More »
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank’s pursuit of success on Wall Street has come at a high price, a $7 billion plus penalty illustrating the... More »
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo A unit of Deutsche Bank AG conceded that it misled investors and violated securities laws and will pay more than $40 m... More »
Rhode Island-based Citizens Bank said Thursday it is partnering with SigFig, a leading robo-adviser, to help manage the portfolios of the bank’s 1.2 million middle-income retirement savers. More »
A Tesco supermarket is seen, in west London on September 30, 2008. . REUTERS/Toby Melville/Files Tesco Bank, owned by Britain’s biggest retailer Tesco, halted online transactions from all current accounts on Monday after money was stolen from 20,000 of them in... More »
The Bank of America building is shown in Los Angeles, California October 29, 2014. REUTERS/Mike Blake/File Photo Bank of America Corp has been hit with a proposed class action accusing it of charging exorbitant fees to thousands of former Arizona prison inmate... More »
The logo of Germany’s largest business bank, Deutsche Bank is seen in front of one of the bank’s office buildings in Frankfurt, Germany, October 27, 2016. REUTERS/Kai Pfaffenbach Deutsche Bank’s (DBKGn.DE) sale of a 20 percent stake in Chinese peer Hua Xia (60... More »
Jeroen Dijsselbloem participates in a discussion on the global economy during the World Bank/IMF Annual Meeting in Washington October 9, 2014. REUTERS/Joshua Roberts The fine proposed by the United States for Deutsche Bank is too big and undermines financial s... More »
Ratings agency Moody’s said it would be positive for Deutsche Bank’s (DBKGn.DE) bondholders if the lender could settle U.S. allegations that it mis-sold mortgage-backed securities for around 2.75 billion euros, or $3.1 billion. More »
The Deutsche Bank headquarters are seen in Frankfurt, Germany October 28, 2015. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank (DBKGn.DE) is throwing its energies into reaching a settlement before next month’s presidential election with U.S. authorities dema... More »
The Deutsche Bank headquarters are seen in Frankfurt, Germany October 29, 2015. REUTERS/Kai Pfaffenbach/File Photo There is no reason for speculation about possible German state aid for Deutsche Bank (DBKGn.DE), a spokesman for Angela Merkel said on Monday, co... More »
The headquarters of Germany’s Deutsche Bank is photographed early evening in Frankfurt, Germany, January 26, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank (DBKGn.DE) will solve its problems without relying on help from Berlin, Germany’s flagship lende... More »
Reflections are seen in the windows of a Bank of America branch in New York, U.S. on October 8, 2008. REUTERS/Lucas Jackson/File Photo Bank of America (BAC.N) is set to cut about two dozen investment banking (IB) jobs in Asia, including some top dealmakers sta... More »
Bank of America will provide research coverage on all of its mutual fund offerings, a move that will require it to get rid of some underperforming and unpopular funds, a company spokesman said on Friday. Bank of America offers over 3,500 mutual funds to its Me... More »
SYDNEY The head of Australia’s largest bank said its insurance business, CommInsure, had used an outdated and discredited definition of a heart attack to deny some claims from clients and he would apologize to any customers adversely affected. “I am saddened a... More »
Bank of America Corp is hiring a new team of investment bankers who cater to midsized companies, four years after dismantling a similar business, three people familiar with the matter told Reuters. The precise number of middle-market bankers it plans to add co... More »
NEW YORK A federal judge has dismissed nearly all of a lawsuit against Bank of America Corp (BAC.N) and US Bancorp (USB.N) that held them liable for losses on roughly $6.8 billion in toxic mortgage securities that helped sink five federal credit unions. In a d... More »
U.S. regulators are expanding their probe into Deutsche Bank AG (DBKGn.DE)(DB.N) as a money laundering investigation of a Moscow unit has widened into possible sanctions violations, the Financial Times reported, citing sources. The U.S. Justice Department and ... More »
TORONTO Bank of Nova Scotia said on Friday it is creating a digital hub in downtown Toronto to help lure technology talent and drive innovation for Canada’s third-biggest lender. The “digital factory” will have more than 350 employees, including existing staff... More »
NEW YORK/WASHINGTON U.S. Democratic presidential hopeful Hillary Clinton on Thursday called for the breakup of large banks that take excessive risks as part of a sweeping plan to curb what she says are Wall Street abuses. Under the proposal, large financial fi... More »
Former Wells Fargo chairman and chief executive Richard Kovacevich said that Bank of America shareholders are wrong to try to strip Bank of America CEO Brian Moynihan of his chairman title. Bank of America’s shareholders vote next week on whether CEO Moynihan ... More »
NEW YORK Some Bank of America Corp (BAC.N) officials told investors they could lose an upcoming shareholder vote on having Brian Moynihan continue as chairman and chief executive of the company, the Wall Street Journal reported on Sunday. The report, in a stor... More »
BOSTON/NEW YORK Big mutual funds are likely to vote later this month to allow Bank of America Corp Chief Executive Brian Moynihan to retain his chairman title, based on their voting history, governance experts said. That support could leave investors seeking t... More »
BOSTON Proxy adviser Institutional Shareholder Services on Friday recommended Bank of America Corp shareholders vote to strip Chief Executive Brian Moynihan of his additional title of chairman, joining a chorus of critics ahead of a Sept. 22 shareholder meetin... More »
BNY Mellon Corp (BK.N) expects to fix the computer glitch that disrupted pricing of U.S. mutual funds and exchange-traded funds before markets open on Monday, its chief executive said. The resolution of the issue, which affected the calculation of billions of ... More »
TORONTO Bank of Nova Scotia, which reported a quarterly profit that beat market expectations on Friday, said bad loans in the energy sector climbed as the oil price selloff took a toll. Shares of Scotiabank, Canada’s third-largest bank, were down nearly 1 perc... More »
SAO PAULO HSBC Holdings Plc (HSBA.L) agreed to sell its Brazilian unit to Banco Bradesco SA (BBDC4.SA) for $5.2 billion, retreating from the second-largest emerging market economy after years of disappointing performance. Europe’s No. 1 bank said in a statemen... More »
SHANGHAI Officials from the world’s largest emerging nations launched the New Development Bank (NDB) on Tuesday, the second of two new policy banks heavily backed by Beijing that are being pitched as alternatives to existing institutions such as the World Bank... More »
