Zions Bancorporation, which failed the Federal Reserve’s annual stress test, deferred giving Chief Executive Officer Harris Simmons a cash bonus until after the bank learns the results of its resubmission.
Morgan Stanley, owner of the world’s largest brokerage, will seek to boost its dividend yield to about 2 percent and eventually return all of annual earnings to investors, Chief Executive Officer James Gorman said.
Morgan Stanley reported profit that beat analysts’ estimates as a surprise jump in fixed-income results helped the firm post the only increase in trading revenue among the six biggest U.S. banks this year. The stock rose 3 percent in early New York trading.
Citigroup Inc. reported an unexpected profit increase and beat analysts’ estimates as the company recouped funds previously set aside for bad loans and cut losses at a division holding unwanted assets.
The National Bank of Greece, the country’s biggest lender, is planning to increase its share capital by as much as 2.1 billion euros ($2.9 billion) to cover a shortfall identified in the national regulator’s stress test, according to a person with knowledge of the matter.