Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA, Spain’s biggest banks, face a fresh risk to earnings as the slump in emerging market currencies threatens to slow growth from Brazil to Turkey.
BlackRock Inc. will open its first office in Africa in Cape Town to give South African investors, including pension funds, access to its global investments, Business Day reported, citing Nick Anderson, managing director for Africa and the Middle East.
Nordic banks will need to show investors they can do more to cut costs when they report third- quarter earnings this month or risk an investor backlash for failing to adjust to Europe’s worsening economic outlook.
Banco Santander SA, Spain’s biggest bank, said third-quarter profit rose more than eightfold as lower costs for absorbing losses on real estate outweighed falling earnings from Brazil and its home market.
A review of asset quality by euro zone’s banking regulators of the region’s banks may show a capital shortfall of 300 billion euros ($386 billion) to 400 billion euros led by France and Germany, according to analysts at Berenberg Bank.