IDBI Bank has hired EY India as the process adviser to find buyers for its ₹4,000 crore distressed debt portfolio that resides under the Stressed Assets Stabilisation Fund (SASF), said people with knowledge of the bank...
Barclays explores deal for Tesco banking business
Barclays has been exploring a potential acquisition of Tesco’s banking operations, two people familiar with the matter told Reuters. The British food retailer has asked prospective buyers to submit non-binding...
IDBI Bank stake sale may not be completed by March 2024: Govt official
The stake sale in IDBI Bank may not be completed by March 2024, a senior government official said. Department of Investment and Public Asset Monetisation (DIPAM) Secretary Tuhin Kanta Pandey said the transaction is...
Italy’s Anima signs binding deal to buy Julius Baer’s Kairos
Italian asset manager Anima Holding said it has signed a binding agreement to acquire all of smaller peer Kairos from Swiss private bank Julius Baer. Under the deal, which is expected to be completed by the second...
Small finance banks thinking big likely to switch on the M&A mode
More small finance banks, that began operations less than a decade ago, may explore mergers either with competitors, non-bank lenders or financial technology companies as they look to achieve economies of scale faster...
Greece to start sale of National Bank stake in coming weeks – sources
Greece’s bank bailout fund plans to start the process for selling a 20% stake in National Bank (NBG), the country’s second largest lender, in the coming weeks, two sources familiar with the matter told...
AU Small Finance Bank to acquire Fincare Small Finance Bank in share deal
AU Small Finance Bank is all set to acquire Fincare Small Finance Bank in an all share deal and merge it with itself, subject to regulatory approvals. As per the agreement between the two, shareholders of Fincare Small...
Rajiv Rattan buys Lone Star’s stake in NBFC for Rs 611 crore
Ending a long and bitter dispute, Rajiv Rattan, one of the founding members of Indiabulls, has acquired a 50% stake of its joint venture (JV) partner Lone Star Funds in RattanIndia Finance for Rs 611 crore (about $73...
IDFC gets CCI nod for merger with IDFC First Bank
The Infrastructure Development Finance Company (IDFC) has received approval from the Competition Commission of India (CCI) for its merger with IDFC First Bank, a regulatory filing stated on October 17. “…the CCI...
Deutsche Bank completes takeover of UK broker Numis
Deutsche Bank has completed its takeover of Numis, a London-based boutique investment bank, expanding its links with UK corporate clients, the German bank said on Friday. The combined business, Deutsche Numis, will...
Sentro Group acquires bank in Russia, eyes rupee-ruble trade
Sentro Group said it has acquired a majority stake in a Russian bank, World of Privileges, for an undisclosed sum. The acquisition of 50.001 per cent ownership in the 29-year-old, post-Soviet era lender is aimed at...
Fintech firm Slice set to enter banking via merger with SFB
Credit and payments unicorn Slice announced its merger with Guwahati-based North East Small Finance Bank (NESFB), in a rare instance of a fintech entering the banking sector. Bengaluru-based Slice, which also holds an...
