Banking

The Cabinet Committee on Economic Affairs cleared the sale on October 14 after a process that began in 2022; the shares fell about 7% the next day as the price came in below the market, and RBI and competition approvals are still needed.

Revenue rose 3% to about $30 billion and net interest income 8% to $16.4 billion; excluding the charge, earnings were $1.08 a share, and asset management fees grew 16% to $4.5 billion as wealth-management revenue rose 13%.

Results filed on October 13 show three different pictures: JPMorgan's net interest income up 13%, Goldman's equities revenue up 72% and Wells Fargo's loan loss provision up 51% from a year earlier.

Volkswagen's UK finance arm has disclosed a £725 million provision for compensating overcharged car-loan customers, adding to a wave of lender provisions under the FCA's £7.5 billion redress scheme.

Equifax data show serious mortgage delinquencies rising from a low base and insolvencies at their highest since 2009, while the Bank of Canada held its rate at 2.25% on September 2 and said it is prepared to adjust policy as needed.

The Central Bank of the UAE's September Quarterly Economic Review forecasts 1.6% growth in 2026 and 10.4% in 2027, while second-quarter bank assets reached AED 5,594 billion and first-half insurance premiums rose 11.0%.

The Department of Financial Services has launched a common portal for unclaimed financial assets at unclaimedassetsportal.in, developed with PSB Alliance, that links users to search facilities run by banks, insurers, mutual funds and other institutions, while the article reporting it says it does not explain how claims are filed and notes that only Rs 5,729 crore of Rs 1.44 lakh crore transferred to RBI's DEAF fund has been refunded.

APRA published the findings of its inaugural System Risk Stress Test on 30 June 2026, in which the four major banks and six large superannuation funds withstood a severe but plausible shock and rebuilt liquidity, while the regulator flagged concentration, mismatched behavioural assumptions and shared service providers as vulnerabilities and said it will propose changes to bank liquidity requirements.

The Central Bank of the UAE fined an unnamed branch of a foreign bank Dh20 million, about $5.5 million, for significant and repeated failures under its anti-money laundering and sanctions frameworks, and fined the branch's head of compliance and money laundering reporting officer Dh300,000, according to reports dated June 24, 2026.

The Bank of Canada's May 28, 2026 Financial Stability Report says households, businesses and banks have remained stable, with shocks less widespread than feared, while warning that heavily indebted households have little room to absorb a shock, insolvencies are the highest since 2009 and pandemic-era mortgages face payment rises of about 15%.

An ECB illustrative stress test of a severe private credit shock found insurers faced the largest absolute impact and pension funds the largest losses against assets, while banks' losses stayed within 1.3% of equity; euro area insurers held about €211 billion of private credit, 2.3% of their assets, and the ESAs' September 2026 update says insurers' exposures are limited in aggregate but warrant attention.