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Chinese banks must brace for surge in bad loans: regulator
Money & Banking

Chinese banks must brace for surge in bad loans: regulator

  • China's Banking and Insurance Regulatory Commission said in a statement that profit growth would slow sharply at some banks while others could see profits decline.
  • Data from the commission shows that Chinese commercial banks booked 2 trillion yuan in profits in 2019, up 8.9% from a year earlier.
Published Jul 11, 2020 06:27pm
Money & Banking

Aussie, kiwi flat

SYDNEY: The Australian and New Zealand dollars were ending flat for the week on Friday after failing to clear major...

Published Jul 11, 2020 02:48am
Bank of Italy lowers 2020 GDP forecast to -9.5pc
Money & Banking

Bank of Italy lowers 2020 GDP forecast to -9.5pc

  • It its latest economic projections the central bank forecast a partial rebound next year, when gross domestic product is seen rising by 4.8%.
  • The central bank estimated in its quarterly bulletin that gross domestic product fell around 10% in the second quarter from the previous three months.
Published Jul 10, 2020 07:39pm
Itau Corpbanca's impairment likely to scrap 2020 profit
Money & Banking

Itau Corpbanca's impairment likely to scrap 2020 profit

  • "This impairment is primarily the result of economic conditions as of June 30, 2020," CorpBanca said.
  • Moura said that due to the coronavirus pandemic, the Chilean unit of Brazil's biggest lender Itau Unibanco Holding SA Corpbanca is likely to post lower-than-expected loan book and fee growth.
Published Jul 10, 2020 07:04pm
Sterling moves higher
Money & Banking

Sterling moves higher

LONDON: Sterling edged higher on Thursday as investors took a fresh look at finance minister Rishi Sunak's plans to...

Published Jul 10, 2020 02:47am
Money & Banking

Aussie, kiwi up

SYDNEY: The Australian and New Zealand dollars held firm on Thursday as the risk-leveraged currencies maintained...

Published Jul 10, 2020 02:47am
Brazil central bank studying 'residual' cut in Selic rate
Money & Banking

Brazil central bank studying 'residual' cut in Selic rate

  • The two tend to go in the same direction, though we understand that we have such a big hiatus that growth is able to return faster without generating a lot of inflation.
  • "We already have some marginal inflation data, albeit very residual, showing for the first time that it is slightly above expectations," Campos Neto said.
Published Jul 09, 2020 06:43pm