Aug 18, 2014

SMBC to become top stakeholder in biggest Cambodian bank

Sumitomo Mitsui Banking Corp. plans to acquire a stake of 12.25 percent in Acleda Bank, the largest commercial bank in Cambodia, for over ¥10 billion to become its top shareholder, sources said Monday. Pending approval by regulatory authorities in the Southeast Asian country, the ...

Aug 4, 2014

Big U.S. banks shedding star financiers and traders

Crippled by lawsuits linked to the 2007-2008 financial crisis, American banks are grappling with an exodus of their best bankers and traders, lured by the huge salaries of little-regulated hedge funds. Michael Cavanagh, 48, was the favorite to succeed Jamie Dimon at the head ...

Jul 22, 2014

FSA to boost bank, insurer oversight

The Financial Services Agency plans to integrate its inspection and supervisory policies to strengthen its oversight of banks, insurance firms and other financial institutions, according to informed sources. The agency will disclose the new policy by September, the sources said Monday. FSA officials in ...

U.S., Europe expand economic sanctions on Russia to hit key energy firms, banks

Jul 17, 2014

U.S., Europe expand economic sanctions on Russia to hit key energy firms, banks

Both the U.S. and European Union imposed new economic sanctions on Russia Wednesday, with President Barack Obama declaring that Russian leaders must see that their actions supporting Ukraine’s rebels “have consequences.” Though the American and European sanctions were coordinated, they nonetheless exposed fissures in ...

French bank BNP guilty of violating U.S. sanctions on Sudan, Cuba, Iran

Jul 1, 2014

French bank BNP guilty of violating U.S. sanctions on Sudan, Cuba, Iran

France’s largest bank, BNP Paribas, has agreed to pay nearly $9 billion to resolve criminal allegations that it processed transactions for clients in Sudan and other blacklisted countries in violation of U.S. trade sanctions, the Justice Department announced Monday. The bank pleaded guilty to ...

Mizuho most pessimistic of the big banks

May 15, 2014

Mizuho most pessimistic of the big banks

Mizuho Financial Group Inc. led the nation’s three biggest banks in forecasting a drop in earnings for this year as loan growth loses momentum and returns from stock investments wane. Japan’s third-largest lender by market value said net income may fall 20 percent from ...