BENGALURU: Australia’s competition regulator on Tuesday said criminal charges had been laid against Australia and New Zealand Banking Group Ltd, a local unit of Citigroup and Deutsche Bank relating to cartel offenses over a $2.3 billion share issue.
Criminal charges have also been laid against several senior executives, including ANZ Treasurer Rick Moscati and Citigroup’s John McLean and Itay Tuchman. Former executives, including Citigroup’s Stephen Roberts and Deutsche Bank’s Michael Ormaechea and Michael Richardson, were also charged, the Australian Consumer and Competition Commission (ACCC) said in a statement.
The market had been waiting for details of the charges against ANZ and underwriters of the 2015 stock placement, Deutsche and Citigroup, since the ACCC flagged them on Friday.
All three banks on Friday denied wrongdoing and said they would defend the charges. Citigroup said the regulator was effectively criminalizing practices long seen as the norm in the financial industry.
The charges, which can carry hefty fines and 10-year prison terms, could lead to changes in the way institutional capital raisings are handled, and do further damage to the reputation of Australian lenders already mired in scandal.
The placement was made when Australian banks were under pressure to meet new capital requirements, which prompted ANZ and the country’s biggest bank, Commonwealth Bank of Australia , to raise a combined A$8 billion in a single week.
Citi, Deutsche Bank, ANZ served with criminal cartel charges in Australia
Citi, Deutsche Bank, ANZ served with criminal cartel charges in Australia
Closing Bell: Saudi main index closes in red at 11,183
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.
The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.
The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.
The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.
The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.
Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.
On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.
Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.
On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.
In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”
Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.
The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.
