International banking

Bank of Nova Scotia shares are on pace for their worst year since 2008 as analysts warn of weakness in the Canadian lender's international business and uncertainty about the shake-up in its leadership.

Citigroup is targeting India as one of its top markets to expand in globally as risks mount in China and other regions, the bank's global co-head of investment banking said.

Lenders are extending credit to corporate suppliers, helping them get paid earlier and keeping goods flowing. But the growth in the sector carries certain risks, too.

Major foreign banks are just as important to the U.S. financial system as large domestic banks, and ought to be regulated as such.

The 2012 order, which came alongside fines to U.S. authorities totaling nearly $2 billion, had sullied the London-based bank's reputation. "Over the last decade HSBC's employees have worked hard to transform the bank's financial crime risk management capabilities," HSBC says.

Standard Chartered's joint venture with an arm of Singapore's biggest trade union group started digital banking services in the city-state, adding to rivalry in the space where tech giants are also seeking to make their mark.

Goldman Sachs Group is tapping the former No. 2 official at the International Monetary Fund and veteran of the Trump administration's trade wars with China to strengthen its ties with international governments.

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.

A growing number of Wall Street banks are willing to trade Russian bonds that were once viewed as untouchable.

HSBC has agreed to sell its Russian unit to local lender Expobank, the latest international bank to exit the country following its invasion of Ukraine.

HSBC Holdings is in talks to sell its Russia unit to local lender Expobank, according to two people with knowledge of the discussions.

The New York custody banking giant took an eight-cent blow to its first-quarter earnings per share as a result of its retreat from the Russian market. Still, the company’s current estimate of the move’s ongoing impact is slightly smaller than its previous guidance.

Deutsche Bank's wealth management business has stopped accepting new Russian clients living abroad, joining other lenders in reducing business with the country’s rich.

In response to the war in Ukraine, the custody bank is no longer pursuing new business in Russia. Citigroup, JPMorgan Chase and Goldman Sachs have all announced similar moves.

European banks trying to decide whether and how to leave Russia in the wake of the invasion of Ukraine are finding that extracting themselves will be slow, costly, and may come with a reputational price no matter what they do.

European banks operating in Russia are preparing to separate those business from their main computer systems to reduce their vulnerability to cyberattacks following the invasion of Ukraine.

Deutsche Bank reversed course and is now joining Wall Street banks Goldman Sachs Group and JPMorgan Chase in pulling back from business in Russia following the country’s invasion of Ukraine.

Thousands of staff, billions of dollars and three decades of complicated relationships. Some of the world’s largest banks are starting to pull back from Russia, but it’s not going to be easy.

JPMorgan Chase is actively unwinding its Russia business, joining Goldman Sachs Group in pulling back in response to the country’s invasion of Ukraine last month.