Commercial Lender News
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Vietnam’s dollar bonds are beating their Southeast Asian peers as the region’s highest yields attract investors confident the government can revive an economy growing at the slowest pace in 13 years.
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Britain’s five biggest banks are poised to plug their part of a 25 billion-pound ($38 billion) capital shortfall identified by regulators without turning to shareholders for money.
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Seyfarth Shaw LLP hired Steven R. Meier for its corporate department in Chicago. Meier joins Seyfarth from Jenner & Block LLP, where he was the co-chairman of the real-estate securities practice and a member of its tax department, the firm said in a statement.
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Swiss National Bank President Thomas Jordan said a shift of the cap on the franc and negative interest rates are among steps the central bank could take, prompting the franc to break through 1.26 per euro for the first time in two years.
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Lloyds Banking Group Plc and Royal Bank of Scotland Plc, Britain’s two biggest state-owned lenders, won’t have to raise additional equity to help plug a 25 billion- pound ($38 billion) capital shortfall among the country’s banks.
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Vietnam will find it “difficult” to cut interest rates further this year, central bank Deputy Governor Nguyen Dong Tien said, as the nation moves to create an asset company that would clean up bad debt and revive growth.
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European Central Bank Executive Board member Yves Mersch said an asset-quality review and a stress test for European banks should be carried out by mid-2014, before the central bank takes up supervision duties.
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Ali Gumma finally saved enough money to buy a plot of land near Tripoli and was planning to build a family home when he hit a brick wall: He couldn’t find a Libyan bank willing to lend him the money.
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Serbia’s foreign-exchange reserves fell 5.84 percent in April from the previous month as the government repaid half of its outstanding debt to the London Club of commercial lenders.
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OTP Bank Nyrt., Hungary’s largest lender, plans to expand credit by about 3 percent this year and lower risk costs as economies in central Europe improve, Chief Financial Officer Laszlo Bencsik said.
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