The Centre doesn’t have any plans to merge public sector banks (PSBs) in FY25, though it will not ditch plans to privatize PSBs during the fiscal, two people aware of the matter said. “There have been no...
United Bankshares to buy Piedmont Bancorp in $267 million deal
United Bankshares has agreed to buy smaller rival Piedmont Bancorp in a deal valued at about $267 million, the lenders said on Friday, amid growing consolidation in the U.S. regional banking industry. WHY IT’S...
Spain’s BBVA turns hostile with $13 billion bid for Sabadell
Spanish bank BBVA launched a hostile 12.23 billion euro ($13.1 billion) all-share takeover bid for Sabadell on Thursday, in a surprise move that triggered immediate opposition from the government. Taking the offer...
Spanish bank Sabadell rejects $12.9 bln BBVA merger proposal
Sabadell’s board rejected a merger proposal by larger rival BBVA for a 12 billion euro ($12.93 billion) all-share merger, the Spanish lender said on Monday. The country’s fourth-largest lender by market...
IndusInd promoter company to raise stake in bank to 26%
The Hinduja Group will raise its stake in IndusInd Bank from 16% to 26% in multiple tranches even as its promoter company IndusInd International Holding is working on a plan to list on Mauritius-based stock exchange...
Carlyle Group sells stake worth $173 mln in India’s Yes Bank
U.S. private equity firm Carlyle Group sold a near 2% stake in Yes Bank worth 14.42 billion rupees ($173 million) in a bulk deal on Friday, exchange data showed. Carlyle, which held a 9.11% stake in the lender via a...
Bandhan Bank: Outgoing MD & CEO Chandra Shekhar Ghosh considering stake sale in promoter group, says report
Bandhan Bank MD & CEO Chandra Shekhar Ghosh is reportedly considering options to monetise his holding in Bandhan Financial Services, moving towards a partial divestment in Bandhan Bank, the Hindu BusinessLine...
ITPCL debt restructuring: NCLAT rejects SBI’s objection on liquidation value provided by PNB
Appellate tribunal NCLAT has rejected SBI’s pleas opposing the liquidation value of ITPCL provided by the debt-ridden firm’s lead banker PNB and said the country’s largest lender cannot “wriggle...
Dream11 gets relief from insolvency resolution process
The National Company Law Appellate Tribunal on Thursday granted relief to Sporta Technologies, the parent company of Dream11, freeing it from the corporate insolvency resolution process (CIRP) rejecting a petition by...
Abu Dhabi Islamic Bank in talks to buy $1.1 bln stake in Indonesian lender, sources say
Abu Dhabi’s largest Islamic bank is in talks to buy a minority stake valued at around $1.1 billion in Indonesia’s top Islamic lender, Bank Syariah Indonesia, two sources told Reuters, with an aim to tap into...
Saxo Bank explores strategic options including sale, sources say
Denmark’s Saxo Bank is exploring a possible sale, 18 months after talks to merge with a blank-cheque company fell apart, four people familiar with the matter told Reuters. The group, which offers digital trading...
Japan’s MUFG set to pick 20% stake in HDFC Bank arm HDB Financial for $2 bn
Bank of Tokyo-Mitsubishi UFJ (MUFG) is buying a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank at a $9-10 billion valuation, ahead of its proposed IPO, said people aware. The final decision...
