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...
Sabadell feels no pressure from British M&A activity to sell TSB
Sabadell is under no pressure to sell its British TSB business, the Spanish bank’s chief executive Cesar Gonzalez Bueno said on Tuesday, despite recent UK sector consolidation. Nationwide Building Society agreed...
CVC-linked investment unit sells 5% stake in Vietnam’s Asia Commercial Bank for $220 mln
An investment vehicle linked to CVC Capital Partners has disposed of its entire 5% stake in Vietnam’s fourth biggest non-state-owned commercial lender, Asia Commercial Bank (ACB), for $220 million, according to a...
Fincare merges with AU Small Finance Bank
AU Small Finance Bank (AU SFB) on Monday amalgamated Fincare Small Finance Bank (Fincare SFB), marking the first such consolidation in the sector. In an all-stock merger deal first announced on October 29, 2023, where...
HDFC Bank proposes to sell its subsidiary HDFC Education
HDFC Bank has decided to sell its 100 per cent stake in HDFC Education and Development Services Private Ltd. The transaction will be undertaken through the Swiss challenge method, HDFC Bank said in a regulatory filing...
HSBC completes sale of Canadian unit to RBC
HSBC Holdings said it completed the C$13.5 billion ($9.96 billion) sale of its Canadian unit, HSBC Bank Canada, to Royal Bank of Canada (RBC) on Thursday. The transaction will result in the recognition of an estimated...
Kotak Bank acquires Sonata Finance for Rs 537 cr
Kotak Mahindra Bank on Thursday said it has acquired NBFC Sonata Finance Pvt Ltd for Rs 537 crore. Sonata is operating in 10 states through 549 branches and has an Asset Under Management (AUM) of approximately Rs 2,620...
ICICI Securities delisting gets nod, setting up merger with ICICI Bank
India’s ICICI Securities has secured shareholders’ nod to delist its stock, the brokerage said in the early hours of Thursday, paving the way to merge with parent and majority shareholder ICICI Bank. About...
UBS sells $8 billion of Credit Suisse assets to Apollo
UBS has sealed the sale of Credit Suisse’s securitised products business to Apollo Global Management as part of efforts to shed non-core assets after its takeover of the collapsed banking group. Apollo will...
Elliott and SoftBank set to merge Italian bad loan businesses
U.S. fund Elliott Management and Japan’s SoftBank Group are set to merge their Italian bad loan businesses in a cash-and-shares deal, SoftBank-backed doValue said on Thursday, as the industry consolidates to...
KCB Group to sell National Bank of Kenya to Nigeria’s Access
Kenya’s KCB Group has agreed to sell subsidiary National Bank of Kenya (NBK) to Nigeria’s Access Group, KCB’s chief executive said on Wednesday. Paul Russo told an investor briefing the deal was struck...
