India Clears Fairfax's Takeover of IDBI Bank in INR 529 Billion Stake Sale
Fairfax will pay INR 81 a share for 60.72% of the lender, but an RBI review, an open offer and a decision on CSB Bank still lie ahead.
Banking & Finance
India
- Banking
Standard Chartered Raises 2026 Outlook as Profit Jumps 27% on Record Wealth Income
Pretax profit far outpaced forecasts as wealth and trading income surged, and the bank now expects a return on tangible equity of about 14% this year.
- Banking
China's Big Four Banks Lift Third-Quarter Profit Up to 10.8% as Margins Hold Steady
ICBC, China Construction Bank, Agricultural Bank and Bank of China posted their best quarterly growth in years, helped by cheaper deposits and bond gains.
- Insurance
Japan's FSA Inspects Sony Financial as Prudential Sees $1.3 Billion Japan Sales-Ban Hit
Regulators took their probe of Sony Life's cash scandals to its parent, while Prudential said its Japan profit fell 25% as a sales halt dragged on.
- Australian Banks
NAB Cash Profit Falls 13% as Bad-Debt Charge Nearly Doubles to A$1.55 Billion
A software write-down and bigger provisions for a slowing economy hit National Australia Bank, which joined Westpac in sharply raising its bad-loan charge.
- Banking
RCBC Earns P5 Billion in Nine Months as Provisions Eat Most of P23.6 Billion Core Profit
The Philippine lender widened its margin and cut costs, but slowed lending and kept setting money aside as consumer bad loans rise across the banking system.
- Asian Banks
HSBC to Merge Singapore Entities as It Lines Up $7 Billion of Loan Risk Transfers
The bank says Hong Kong keeps control of its Asia-Pacific entities, while it shops two risk transfer deals tied to U.S. and Asian corporate loans.
- Banking
China Merchants Bank, Postal Savings Bank Trail Big Four as BoCom Profit Jumps 10%
China Merchants Bank, CITIC Bank and Postal Savings Bank grew quarterly profit 3% to 5%, while Bank of Communications rode trading gains to 10%.
- Banking
KB Financial Earns 1.91 Trillion Won in Third Quarter as Nine-Month Profit Hits Record
South Korea's largest financial group widened its lead over Shinhan as brokerage fees more than offset a dip in quarterly earnings and a thinner bank margin.
- Bank Regulation
ASIC Sues Commonwealth Bank Over A$8.5 Million Fees After Macquarie A$14 Million Deal
Australia's corporate regulator took aim at two of the country's largest banks in two days, citing undisclosed business fees and a confusing savings offer.
- Insurance
Ping An Net Profit Falls 27% in Nine Months as Investment Income Drops 69%
The Chinese insurer grew operating profit 8.3%, but stock market swings cut investment income and new business value fell 13%.
- India
India Bank Credit Grows 19.1% as Services Lending Jumps 28.3%, Outpacing Deposits
Lending to industry and services is at its fastest in years, but deposits trail and funding costs are rising after the RBI's October rate hike.
- Asset ManagementAnalysis
How China's New Trust Rules Cap Single-Asset Bets at 25% in a 24 Trillion Yuan Sector
The NFRA's measures for asset management trusts, released Oct. 30, set minimum stakes, limit leverage and cap performance fees, with new products covered from Jan. 1, 2027.
- InsuranceAnalysis
Manulife, Prudential Lean on Hong Kong as China New Business Slumps in Third Quarter
Third-quarter updates from four insurers selling across Asia show Hong Kong and Japan carrying growth while mainland Chinese new business shrank.
- Bank Regulation
BaFin Fines Deutsche Bank 8 Million Euros Over 2023 Postbank IT Migration Failures
Germany's financial watchdog penalized the country's largest lender for slow complaint handling and delayed securities transfers after a botched customer migration.
- China Banks
ICBC, Agricultural Bank Win Shanghai Exchange Nod for 260 Billion Yuan State Share Sales
The Shanghai Stock Exchange cleared the two lenders' private placements to the Ministry of Finance and China Tobacco, moving Beijing's second big bank recapitalization a step closer.
- India Banks
RBI Clears Pratap Singh as Fino Payments Bank CEO After 9 Months Under Interim Chief
The former ICICI Bank UK and SBI UK retail banker takes over on Nov. 27 as India's only listed payments bank tries to turn a loss-making quarter into a small finance bank launch.
- India Banks
Kotak Mahindra Bank Profit Rises 29% as Foreign-Currency Deposits Squeeze Its Margin
A $5.8 billion haul of non-resident deposits lifted Kotak's balance sheet in the September quarter but pulled its net interest margin to 4.31%.
- Banks
China's New Yuan Loans Shrink by 100 Billion Yuan in October as Household Borrowing Falls
Households and companies repaid more than they borrowed, pushing loan growth to a record-low 4.7% as government bonds carried total financing.
- Banks
ANZ Full-Year Cash Profit Jumps 31% to A$7.59 Billion as Costs Fall 7%
Australia's fourth-largest bank lifted franking on an 83-cent final dividend and guided to flat expenses in fiscal 2027 as Suncorp Bank integration continues.
- Banks
Indonesia Opens Yuan Clearing Bank With Bank of China as 12 Lenders Join Network
Bank Indonesia wants trade with China settled directly in yuan, easing demand for dollars as yuan demand nears $40 billion a year.
- Insurance
Allianz Posts Record 14.1 Billion Euro Nine-Month Profit, Lifts 2026 Target as Asset Management Jumps 35%
A record quarter at PIMCO and Allianz Global Investors offset higher catastrophe losses in property-casualty, and the German insurer raised the top of its full-year range to about 18.6 billion euros.
- Financial Services
Japan Post Holdings Half-Year Profit Jumps 63% to 232 Billion Yen as Bank Gains From BOJ Rates
Japan Post Bank lifted its full-year profit target to 700 billion yen on higher interest from Bank of Japan deposits, while Japan Post Insurance raised its net income forecast but cut its ordinary profit outlook.
- Asset Management
ICG Half-Year Pretax Profit Falls 18% to 287 Million Pounds as Management Fees Rise 12%
The London-listed private markets firm raised $7.6 billion in six months, helped by its record 12 billion euro Europe IX fund, but a drop in performance fees pulled earnings lower.
- Banks
Mizuho Lifts Profit Goal to 1.6 Trillion Yen as First-Half Net Jumps 30%, Adds Buyback
One of Japan's three megabanks raised its dividend forecast to 200 yen a share as higher interest income, fees and gains on stock sales lifted half-year earnings.
- Banks
SMFG Lifts Profit Forecast to 1.9 Trillion Yen, Adds 220 Billion Yen Buyback After Record Half
Sumitomo Mitsui Financial Group's first-half profit rose 7.5% to a record 1 trillion yen as domestic lending income jumped, and it also corrected last year's accounts for a valuation error.
- Banks
Commonwealth Bank Quarterly Profit Rises 8% to A$2.8 Billion as Home Loan Arrears Climb
The Australian bank said mortgage arrears rose to 0.8% and collective provisions grew as higher rates and lower house prices weighed on borrowers.
- Insurance
South Korea's Top 5 Nonlife Insurers Lift Nine-Month Profit 5.5% to 5.82 Trillion Won
Samsung Fire, DB and Hyundai Marine grew earnings on better underwriting, while Meritz Fire and KB Insurance slipped as third-quarter investment returns fell.
- Insurance
LIC September-Quarter Profit Rises 20% to 12,076 Crore Rupees as Premium Income Jumps 16%
India's largest insurer lifted its new-business margin and solvency ratio, though individual policy sales slipped and investment yields eased from a year earlier.
