HSBC said on Thursday it planned to privatise Hong Kong’s Hang Seng Bank in a deal worth HK$106.1 billion ($13.63 billion) after its majority-held subsidiary has come under fire for its performance and exposure to...
Banking
Government confident of completing IDBI Bank stake sale this fiscal year
The Indian government is confident of completing the stake sale in IDBI Bank before the end of the current financial year, according to Financial Services Secretary M. Nagaraju. Speaking on the sidelines of the Global...
IndusInd promoter IIHL Mauritius buys 100% stake in Sterling Bank, Bahamas
IndusInd Bank Limited’s promoter, IIHL Mauritius, on Monday announced that it has acquired 100% stake in Sterling Bank, Bahamas. Previously, the promoter had acquired 51% stake in the Sterling Bank, Bahamas, in...
Fifth Third to buy Comerica in $10.9 billion deal, creating 11th largest U.S. bank
Fifth Third Bancorp said on Monday that it will buy Comerica Inc. for $10.9 billion in stock. It will be the biggest U.S. bank merger in years as banks are trying to grow bigger and stronger. The deal shows that...
ING facing delay in completing the sale of its Russian unit
Dutch bank ING said on Friday it was facing a delay in completing the previously announced sale of its Russian division to Global Development JSC. “At the time, it was expected that the transaction would be...
Citigroup sells stake in Banamex to Mexican billionaire for $2.3 billion
Citigroup has agreed to sell a 25% stake in Grupo Financiero Banamex to a company owned by Mexican billionaire Fernando Chico Pardo and his family, marking a step toward Citi’s plan to take the unit public. The...
Japan’s SMBC picks up additional 4.22% stake in Yes Bank, becomes largest stakeholder
Yes Bank on Tuesday said Sumitomo Mitsui Banking Corporation (SMBC) of Japan has acquired an additional 4.22 per cent stake in the Mumbai-based bank. With the acquisition, SMBC’s stake in Yes Bank has increased...
Bank of Montreal explores sale of some US branches, WSJ reports
Bank of Montreal has recently launched a process to sell some of its U.S. branches with about $6 billion in deposits, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The Canadian...
Spain’s BBVA bank increases Sabadell bid to 17 billion euros in takeover battle
Spanish bank BBVA said on Monday it had raised its bid for smaller rival Sabadell by 10% to 17 billion euros ($19.95 billion), as part of its attempt to create the country’s second-biggest bank by assets. BBVA...
SMBC to buy additional 4.2% stake in Yes Bank from PE firm Carlyle Group
Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) on Wednesday said it will acquire an additional 4.2% stake in Yes Bank from a Carlyle Group affiliate for Rs 2,850 crore. The announcement comes alongside the...
Bandhan Bank completes divestment in Yes Bank to Japan’s SMBC, continues buying spree after SBI & Carlyle
Bandhan Bank divested 15,39,34,975 equity shares of Yes Bank Ltd. to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for a consideration of about Rs 331 crore. Bandhan Bank sold the said shares at a rate of Rs...
Sabadell’s board tells shareholders to reject BBVA’s hostile takeover bid
Spanish bank Sabadell’s board unanimously recommended its shareholders reject BBVA’s hostile takeover bid on Friday, a move that may add pressure on the rival to increase its offer. BBVA formally launched...
