The South Africa n lender's board previously declined a request for a resolution to adopt a policy on financing fossil fuel activities. opposing its plan to finance an oil pipeline project in East Africa, Bloomberg reported. * Climate activist group 350.org will submit a petition to Standard Bank Group Ltd. Al-Gwaiz previously served as Al Rajhi Banking & Investment Corp.'s general manager for corporate banking in the country. * Credit Suisse Group AG appointed Majid al-Gwaiz the first CEO of its commercial banking unit in Saudi Arabia, insiders told Bloomberg News. ➤ Metro's potential RateSetter deal raises questions even at knockdown price: The benefit of a deal to the peer-to-peer lender was obvious but the benefit to the bank was far from clear, according to one analyst, while another said the acquisition would not lead him to change his 'sell' recommendation. ➤ Market abuse case another obstacle in Danske Bank's image rebuild: A market abuse case and multiple reprimands from the Danish financial regulator have prompted a wave of bad news coverage for Denmark's largest bank in recent days. Maluleke said the bank will review its strategy and implement further cost-saving measures, which could impact its staff.

The lender's posttax loss in the six months to March 31 totaled 311 million rand, against a year-ago profit of 69 million rand. will continue tightening its lending criteria after a coronavirus-prompted rise in impairment charges led to losses, CEO Basani Maluleke told Bloomberg News. * South Africa -based African Bank Holdings Ltd. EFG Hermes would own at least 51% of the state-controlled bank while the Sovereign Fund would take at least 25%. * EFG-Hermes Holding SAE and the Sovereign Fund of Egypt clinched central bank approval to start due diligence for a potential acquisition of a 76% stake in Arab Investment Bank from current majority owner, Ghana-based National Investment Bank Ltd.

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