News
RETAIL BANKING | Staff Reporter, Singapore
view(s)

Weekly Global News Wrap Up: UBS profit hits $1.3b; Barclays eyes India return

And Italy's Banca Carige is under investigation for market rigging.

From CNBC: UBS's net profit of 1.3 billion Swiss francs ($1.3 billion) for the second-quarter beat analyst predictions although the group's wealth management arm, which accounted for more than half of profit, dipped unexpectedly. That division saw 1.2 billion francs in net outflows, a fall that UBS said was due to U.S. customers liquidating part of their investments to pay taxes.

From Bloomberg: Barclays Plc is reportedly considering a return to consumer banking in India as it seeks to deploy more of the capital it holds in the South Asian uni after it pulled out of the business in 2011. Barclays is reentering some businesses and markets in the Asia-Pacific region as CEO Jes Staley puts an era of restructuring behind him. 

From CNBC: The spotlight fell back on Italy's banks Tuesday morning after prosecutors reportedly opened an investigation into alleged market manipulation by the Genoa-based Banca Carige. The bank has been hit with a management crisis after its chairman, deputy chairman and two board members resigned in the last few weeks over disagreements with the bank’s chief executive. 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.