Sector: Banks

Commonwealth Bank of Australia, the country's top lender by market value, said on Thursday its third-quarter cash profit rose 3 percent, in line with expectations, buoyed by lower bad-debt charges despite softer credit demand and higher funding costs.

The JPMorgan Chase unit that lost more than $2 billion through a failed hedging strategy had looser risk controls than the rest of the bank, according to people familiar with the situation.

Japan's big three banks reported robust earnings growth for the full year ended March 31, prompting one analyst to forecast huge gains for their stocks in the near-term.

For hedge funds that could smell blood in the water, it seemed to be an opportunity to take on JPMorgan Chase and win, the New York Times reports.

Up to 20 of Europe’s top banks will on Wednesday discuss a plan to foil the dominance of the much criticized big three credit agencies at a private meeting of finance directors in Frankfurt. The FT reports.

New lending by China's four biggest state-owned banks was flat in the first two weeks of May and total deposits extended April's decline to fall by around 200 billion yuan ($31.65 billion), the Shanghai Securities News reported on Wednesday.

Japan's top banks forecast earnings above analysts' expectations but still see a tough year ahead, with two of the big three predicting a fall in profits, as a limp domestic economy restrains demand for loans.

In the years leading up to JPMorgan Chase’s $2 billion trading loss, risk managers and some senior investment bankers raised concerns that the bank was making increasingly large investments involving complex trades that were hard to understand, the New York Times reports.

Japan's top banks are set for profit declines this year after solid growth in the past two years as razor-thin yields curb their hefty government-bond trading gains and as a tepid domestic economy curtails loan appetite.

The leader of JPMorgan's hedging unit Ina Drew is retiring, marking the first casualty from stunning trading losses that experts say could reach more than $3 billion.

Like the heel of his namesake in Greek myth, the team at JPMorgan headed by Achilles Macris may have proved to be a weak spot when it came to managing risk.

Ally Financial's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help it get on a path to repaying $12 billion in bailout money.

Suspected drug gang killers dumped 49 headless bodies on a highway near Mexico's northern city of Monterrey in one of the country's worst atrocities in recent years..

Three high-ranking officers are expected to leave JPMorgan Chase this week, people familiar with the situation told The Wall Street Journal, in the latest fallout from a trading blunder that has cost the bank at least $2 billion.

Although JPMorgan Chase suffered a trading loss of at least $2 billion due to a failed hedging strategy, it will not be life threatening to the bank, CEO Jamie Dimon said in an interview aired Sunday.