Aug 29, 2016

Japan's three biggest banks seeking business expansion in Africa

The three mega-banks said they will expand their businesses in Africa, following Prime Minister Shinzo Abe’s pledge over the weekend to bolster measures to boost investment in the resource-rich continent. Sumitomo Mitsui Banking Corp., Mizuho Bank and the Bank of Tokyo-Mitsubishi UFJ are aiming ...

Yellen rejects radical overhaul of Fed's policy tools

| Aug 27, 2016

Yellen rejects radical overhaul of Fed's policy tools

For all the talk of a radical shift in central banking policy, from the permanent use of negative rates to printing “helicopter money,” Federal Reserve Chair Janet Yellen appears to believe she can tackle any downturn using the tools currently at her disposal. Speaking ...

India names new Bank of India governor

Aug 21, 2016

India names new Bank of India governor

The Indian government on Saturday named insider Urjit Patel as the new governor of the Reserve Bank of India, to replace popular central banker Raghuram Rajan when his term ends in September. “Dr. Urjit R Patel new Governor of RBI,” Frank Noronha, principal spokesperson ...

Aug 16, 2016

Japan banks introducing telecommuting, reduced working hours

More major Japanese banks are reviewing their working patterns and introducing such systems as telecommuting and shorter working hours to help carers and parents with young children get the time they need. Mizuho Financial Group Inc. plans to allow some 23,000 employees at the ...

Clouds lifting for Japan's banks as negative rates stay put

Aug 2, 2016

Clouds lifting for Japan's banks as negative rates stay put

The Bank of Japan’s decision not to drag interest rates further below zero provides relief for the nation’s banks after shrinking lending profits crimped first-quarter earnings. Combined net income at Mitsubishi UFJ Financial Group Inc. and its two mega-bank peers fell 28 percent from ...

Jul 29, 2016

Mizuho profit slides 16% on negative interest rate

Mizuho Financial Group, the nation’s second-largest lender, said first-quarter profit dropped 16 percent, as Japan’s negative interest rate hit income from loans and investments and failed to stoke broader borrowing. Mizuho said Friday that April-June net profit fell to ¥132.6 billion ($1.28 billion) from ...