Foreign news: China cuts reserve requirement ratio, Deutsche to exit consumer banking, China suspend

China's central bank cut the reserve requirement ratio for all banks by 100 basis points on Sunday, the South China Morning Post reports. This is the second reduction in two months.

Deutsche Bank will probably opt to exit all or part of its consumer banking operations in a strategy revamp to be announced as soon as this month, Bloomberg reports. Making deeper cuts to both investment and consumer banking divisions is a third option, though this is the management board's least-favoured course.

China has suspended a policy that could have effectively pushed foreign technology companies out of the country's banking sector. The New York Times reports that the rules, put into effect at the end of last year, called for companies selling computer equipment to Chinese banks to turn over intellectual property and submit source code. Trade groups representing companies including Microsoft, IBM and Apple complained that such policies were protectionist.

Goldman Sachs reported a 41 per cent rise in net profit to US$2.75 billion over the March 2015 quarter. The best performing division was market making, where net revenues came in at US$3.93 billion, up 49 per cent on a year earlier.