First increase y/y in quarter since COVID-19 outbreak Net interest income remains under pressure Shares fall 1.5% (Adds details, shares)
MADRID, April 22 (Reuters) - Bankinter reported its first year-on-year net profit increase since before the coronavirus outbreak started and predicted the worst of the crisis might be over as the bank does not plan to set aside more provisions against potential bad loans.
Spain’s fourth-largest bank by market value said its business activity reflected a sustained momentum across all its banking units even though the economic landscape at the start of this year had yet to show signs of a recovery.
Korean won strengthens against U.S. dollar South Korea benchmark bond yield falls For the midday report, please click
SEOUL, April 22 (Reuters) - Round-up of South Korean financial markets: South Korean shares rose on Thursday, tracking a rebound in global equities although concerns about rising COVID-19 cases in some parts of the world weighed on market sentiment. The won gained, while the benchmark bond yield fell. The benchmark KOSPI closed up 5.86 points, or 0.18%, at 3,177.52, after a 1.52% drop on Wednesday. Among heavyweights, technology giant Samsung Electronics fell 0.24%, while peer SK Hynix rose 0.38%. Battery maker LG Chem added 0.81%. Hyundai Motor rose 0.22% after it reported a 187% jump in its first-quarter net profit as demand for its high-margin sports-utility vehicles and premium Genesis cars boomed.
By Reuters Staff
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BERLIN, April 22 (Reuters) - Swiss watchdog Finma has opened proceedings against Credit Suisse in connections with its involvement with U.S. hedge fund Archegos, Finma said on Thursday.
Finma also confirmed that it had opened proceedings against the lender in the context of the Greensill case in March.
Reporting by Kirsti Knolle; Editing by Maria Sheahan
By Reuters Staff
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TOKYO, April 22 (Reuters) - Yields on 10-year Japanese government bonds (JGBs) fell on Thursday as some investors remained cautious about the impact of a resurgence of COVID-19, although risk appetite improved overall and stock markets rebounded. The 10-year JGB yield fell 0.5 basis points to 0.065%. The 20-year JGB yield was unchanged at 0.430%. The 30-year JGB yield rose one basis point to 0.635%. The two-year JGB yield was flat at minus 0.135%. The five-year yield fell 0.5 basis points to minus 0.110%. The 40-year JGB yield rose 0.5 basis points to 0.670%. Benchmark 10-year JGB futures rose 0.04 points to 151.59, with a trading volume of 21,582 lots. (Reporting by Tokyo markets team; Editing by Jan Harvey)
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FRANKFURT (Reuters) - The European Central Bank will keep policy unchanged on Thursday, emphasizing that its stimulus measures are keeping the pandemic-struck economy afloat so they should not be clawed back too soon.
FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski
The bank is pinning borrowing costs near record lows via massive bond purchases to see the euro zone through a scarring recession that has kept schools, shops, restaurants and hotels closed for the better part of a year.
ECB chief Christine Lagarde is likely to argue that only a bit more time is needed before the economy roars back from its pandemic-induced hibernation and that the bank needs to stick to its guns as exiting too early would be costlier than stopping too late.