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  • TORONTO, May 28- Royal Bank of Canada, the country's top lender, posted a better-than-expected quarterly profit on Thursday, helped by strength in its domestic banking and capital markets divisions. RBC has been expanding its U.S. wealth management business and launched a $5.4 billion bid in January for Los Angeles- based City National Corp. City National said...

  • FRANKFURT, May 28- The EU's top watchdog has challenged the European Central Bank over privately disclosing sensitive plans for money printing to a group of hedge funds, giving them a headstart over investors who found out only the following day. In a letter to ECB President Mario Draghi, the European Union's Ombudsman has now asked for a "detailed account of the...

  • TORONTO, May 28- Toronto Dominion Bank posted a quarterly profit that beat market expectations on Thursday, driven by strong growth in its Canadian retail and wholesale businesses. The results follow bullish quarterly numbers from Royal Bank of Canada, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada, which reported...

  • ABIDJAN, May 28- The African Development Bank's governors began voting on Thursday to elect a new president to guide the pan-African lender through the continent's increasingly complex financial environment. Eight candidates, including Nigeria's agriculture minister, Akinwumi Adesina, Cape Verde's finance minister, Cristina Duarte, and a former...

  • LONDON, May 28- The European Central Bank said on Thursday that record low interest rates were putting insurance firms and banks under increasing pressure and warned that any sell-off in stocks and bonds could damage the euro zone's recovery. In its twice-yearly Financial Stability Review, the ECB also said risks from Greece for the euro zone's governments...

  • *ECB's Constancio- Greece will stay in euro, hints at default. FRANKFURT, May 28- European Central Bank policymakers played down the prospects of any immediate loosening of funding for cash-strapped Greece, saying that when it came to accepting the country's bonds as security for central bank credit, the answer remained no. Speaking to journalists in Frankfurt,...

  • HANGZHOU, China, May 28- China Cinda Asset Management offered on Thursday nearly $7 billion in soured loans to investors in its largest ever sale, underscoring government pressure on banks and asset managers to settle China's debt pile as economic growth stalls. Its promotion comprised 35.3 billion yuan in outstanding principle and 8 billion yuan in interest...

  • MOSCOW, May 28- Russia's largest lender Sberbank defied expectations for a sharper slump in first-quarter profit as strong commission income and its access to cheaper funding helped it to outperform rivals. Sberbank holds about 30 percent of Russia's total banking sector assets and Russians are used to trusting the bank with their savings since the Soviet...

  • May 28- Canadian Imperial Bank of Commerce reported a better-than-expected quarterly profit on Thursday, boosted by a buoyant Canadian capital market, and the country's fifth-largest lender joined other Canadian banks in raising its dividend. The bank's net income attributable to common shareholders tripled to C $895 million, or C $2.25 per share, in the...

  • SHANGHAI, May 28- China's stock markets plunged on Thursday, with indexes dropping over 6 percent in record high turnover as investors rushed to sell after more brokers tightened margin trading requirements for clients and the central bank drained money market liquidity. The Shanghai Stock Exchange saw A share turnover hit 1.2 trillion yuan, an all time...

  • SHANGHAI, May 28- China's stock markets plunged on Thursday, with indexes dropping over 6 percent in record high turnover as investors rushed to sell after more brokers tightened margin trading requirements for clients and the central bank drained money market liquidity. The Shanghai Stock Exchange saw A share turnover hit 1.2 trillion yuan, an all time...

  • San Francisco Fed President John Williams made the remarks at a symposium on Asian banking and finance in Singapore.

  • FRANKFURT, May 28- A European Central Bank policymaker played down the prospects for an immediate loosening of funding for cash-strapped Greece, saying that when it came to accepting the country's bonds as security for central bank credit, the answer remained no. The critical comments from Ewald Nowotny, who as head of the Austrian central bank also sits on the...

  • SINGAPORE, May 28- A top Federal Reserve official on Thursday dove into the simmering global debate over how best to protect against future financial crises, arguing that interest rate hikes are not the answer, even as a last resort. "Despite the clear need to consider all potential tools to avoid a financial crisis, I am unconvinced that monetary policy is one of...

  • ZURICH, May 28- No longer is schmoozing over long lunches and fine wines enough; Swiss private bankers are turning to video games and virtual reality to attract a new generation of sceptical clients and see off digital rivals. In a fifth floor office just off Zurich's main shopping street, researchers at UBS are testing dozens of technologies to see what could...

  • SHANGHAI, May 28- China's yuan was little changed against the dollar on Thursday as the central bank kept its daily guidance rate largely steady, a sign that monetary authorities are keen to keep the currency stable for now, traders said. "The market is quite balanced today, with no big money flows pushing the yuan in either direction," said a trader at a Chinese...

  • NEW YORK— The American Bankers Association has hired Rob Nichols, the head of a major Wall Street lobbying group and former Treasury Department official, as its new president and CEO. Nichols currently leads the Financial Services Forum, a small but influential lobbying group whose membership consists solely of the CEOs of the biggest U.S. banks and insurance...

  • OTTAWA, May 27- The Bank of Canada held its key interest rate at 0.75 percent on Wednesday, largely shrugging off a weak U.S. economy in the first quarter, and said solid U.S. growth this quarter should help Canadian exports and business investment. The market had widely expected bank Governor Stephen Poloz to keep the benchmark rate steady, but some analysts had...

  • US bank earnings up 6.9 percent in Q1 Wednesday, 27 May 2015 | 10:35 AM ET

    The data issued Wednesday by the Federal Deposit Insurance Corp. showed "gradual but steady improvement" for the banking industry, FDIC Chairman Martin Gruenberg said at a news conference. The FDIC reported that U.S. banks earned $39.8 billion in the first quarter, up from $37.2 billion a year earlier. The number of banks on the FDIC's confidential "problem list"...

  • OTTAWA, May 27- The Bank of Canada held its key interest rate at 0.75 percent on Wednesday, shrugging off a weak U.S. economy in the first quarter and saying solid U.S. growth this quarter should help Canadian exports and business investment. The market had widely expected bank Governor Stephen Poloz to keep the benchmark rate steady, but some analysts had begun to...

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