Finance

Mastercard has announced a partnership with billionaire investor George Soros to work on a for-profit humanitarian project called Humanity Ventures that could bring aid to migrants and refugees around the world.

Commercial real estate loan growth and the Hudson City acquisition fueled fourth-quarter profit growth at M&T Bank in Buffalo, N.Y.

The New York bank weathered headwinds in its taxi-medallion portfolio to post double-digit growth in earnings and net interest income during the fourth quarter.

The Cleveland company also had a record quarter for its investment banking business.

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Profit surged at BB&T in Winston-Salem, N.C., during the fourth quarter, driven by various acquisitions and growth in business lending.

A 9% increase in interest revenue helped to offset relatively flat growth in fee revenue.

BorrowersFirst said its new financing will come from Waterfall Asset Management, a New York firm that focuses on high-yield investments.

The Pittsburgh company was aided by high-single-digit organic loan growth in addition to an acquisition that was completed in February.

Michael Corbat told analysts Tuesday that Citi will no longer report Citi Holdings, its erstwhile "bad bank," as a separate entity.

The company is selling common and preferred stock in a private placement.

Andy Cecere is the new CEO-in-waiting at the Minneapolis bank, but interest in his future plans took a back seat as investors and others tried to get their heads around why the current boss, Richard Davis, is choosing to leave seven years before the typical retirement age.

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Northern Trust’s fourth-quarter profit surged due to higher trust fees, improved credit quality and the benefit accrued to its profit margin from an increase in short-term interest rates.

Commerce Bancshares in Kansas City, Mo., reported higher quarterly results that reflected great credit quality.

The Minneapolis company reported gains in lending and fee income, but merit-pay increases and compliance-related spending contributed to higher noninterest expenses.

About $12 million of the proceeds will go toward exiting the Small Business Lending Fund.

Citigroup reported fourth-quarter profit that surpassed analysts’ estimates as trading revenue jumped 31%, more than the bank had forecast last month.

FIS is forming a network for the inaugural class of its VC Fintech Accelerator program.

Three midsize banks projected increases in loans this year in the latest round of earnings discussions, but their levels of optimism varied, and their commercial lending strategies in some cases conflicted.