DBS Group, Southeast Asia’s top bank by assets, is the frontrunner to buy a controlling stake in Indonesia’s Panin Bank, three people with knowledge of the matter said. The Singapore lender was competing...
France’s Credit Mutuel to buy German bank IPO candidate OLB
French banking group Credit Mutuel Alliance Federale is buying German lender Oldenburgische Landesbank (OLB), a surprise move after the northern German bank for years considered a listing on the stock exchange. The...
Safra Sarasin Group to buy majority stake in Saxo Bank
Swiss private bank J. Safra Sarasin Group has agreed to buy 70% of Denmark’s Saxo Bank in a deal valued at around 1.1 billion euros ($1.19 billion), Saxo Bank said on Monday. Reuters reported last year that the...
Russian banker Kim boosts car leasing, finance portfolio with VW bank buy
Russian banker Igor Kim has acquired Volkswagen Bank Rus, the German automaker’s former finance arm in Russia, federal tax documents showed, adding to the businessman’s growing portfolio that includes...
Axis Bank is said to weigh majority stake sale of $1 bn shadow bank unit
Axis Bank Ltd. is considering options for Axis Finance Ltd., including the possible sale of a majority stake in the shadow-bank unit, according to people familiar with the development. The private sector lender is...
HSBC to sell Bahrain retail banking operations as restructuring progresses
HSBC on Tuesday agreed to sell its retail banking operations in Bahrain to Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank. The deal will see a transfer of retail loans, deposits and accounts of...
RBI allows Temasek unit to raise stake in AU Small Finance Bank, shares rise
The Reserve Bank of India has given its approval to a Temasek unit to raise its stake in AU Small Finance Bank, the lender said on Thursday. This may make Zulia the largest foreign portfolio investor in the lender. RBI...
Due diligence of qualified bidders for IDBI Bank underway: MoS Finance
The due diligence of qualified bidders for IDBI Bank, which is up for privatisation, is underway, Minister of State for Finance Pankaj Chaudhary said on Monday. The government, along with LIC, is selling nearly 61 per...
Canada’s TD Bank to exit Charles Schwab stake worth $15.4 billion
Canada’s Toronto-Dominion Bank said it would offload its 10.1% stake in U.S. financial services firm Charles Schwab, as part of a strategic review undertaken following a landmark U.S. fine. TD holds 184.7 million...
Unipol-backed BPER joins Italy’s M&A frenzy with $4.5 bln Pop Sondrio bid
Italy’s fourth-largest bank BPER on Thursday joined in a raft of takeover bids rocking the country’s financial sector, with a 4.3 billion euro ($4.46 billion) all-share bid for Banca Popolare di Sondrio...
Govt rethinking disinvestment plan? Finance Minister Nirmala Sitharaman sets the record straight
After presenting the Union Budget on February 1, Finance Minister Nirmala Sitharaman has revealed where the government’s priorities lies when it comes to disinvestment and privatisation plans. “On...
ING looking for acquisitions to grow in Germany, Italy and Spain, says CEO
Dutch lender ING Group is looking for opportunities to buy rival banks in major European countries to boost its size, its chief executive told Reuters, potentially joining a wave of takeovers sweeping the region’s...
