A view of the logo of HSBC bank on a wall outside a branch in Mexico City, Mexico June 14, 2024. Henry Romero | Reuters Europe’s largest lender HSBC on Wednesday announced a share buyback of up to $2 billion as its annual pre-tax profit rose 6.5%, helped by the sale of its banking business … Read more
A group of African countries is set to launch a bank to fund oil and gas projects amid growing reluctance by Western institutions to further invest in fossil fuels. The long-planned “Africa Energy Bank” that is expected to take off soon was announced last June as a joint initiative by the African Export-Import Bank (Afreximbank) … Read more
Branch of HSBC bank on 15th January 2024 in London, United Kingdom. HSBC Bank plc is a British multinational banking and financial services organisation. HSBCs international network comprises around 7,500 offices in over 80 countries globally. (photo by Mike Kemp/In Pictures via Getty Images) Mike Kemp | In Pictures | Getty Images HSBC is preparing … Read more
British Chancellor of the Exchequer Rachel Reeves listens during the 11th China-UK Economic And Financial Dialogue on January 11, 2025 in Beijing, China. Pool | Getty Images News | Getty Images The U.K. is “not part of the problem” when it comes to “persistent” trade deficits that President Donald Trump wants to tackle, the country’s … Read more
Bank of America on Thursday posted results that topped expectations for profit and revenue on better-than-expected investment banking and interest income. Here’s what the company reported: Earnings: 82 cents vs. 77 cents expected, according to LSEG Revenue: $25.5 billion vs. $25.19 billion expected The company said fourth-quarter profit more than doubled to $6.67 billion, or 82 … Read more
Citigroup shares jumped Wednesday after fourth-quarter earnings beat estimates on the top and bottom lines, reflecting broad strength across the bank. “2024 was a critical year and our results show our strategy is delivering as intended and driving stronger performance in our businesses. Our net income was up nearly 40% to $12.7 billion and we … Read more
Daniel Pinto, president and chief operating officer of JPMorgan Chase, speaks during the Semafor 2024 World Economy Summit in Washington, DC, on April 18, 2024. Saul Loeb | AFP | Getty Images JPMorgan Chase said Tuesday that Chief Operating Officer and President Daniel Pinto will step down from those roles in the coming months, setting … Read more
The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Emanuele Cremaschi | Getty Images News | Getty Images Italy’s UniCredit said on Wednesday it has raised its potential stake in Commerzbank to 28% using further derivatives, as markets watch whether it will take the leap with a buyout … Read more
A pedestrian walks by the entrance to Lombard Odier in Geneva, Switzerland. Bloomberg | Bloomberg | Getty Images Lombard Odier — one of Switzerland’s oldest private banks — was indicted by Swiss prosecutors on charges of aggravated money laundering. In a release on Friday, the Office of the Attorney General of Switzerland, or OAG, said … Read more