The EU Commissioner for Financial Services, when asked on Friday about German resistance to UniCredit’s attempts to take over Commerzbank, lamented obstacles to the creation of larger European banks...
Federal Bank to sell minority stake to Blackstone affiliate for Rs 6,200 crore
The Board members of Federal Bank on Friday approved sale of 9.99% stake to an affiliate of U.S. private equity firm Blackstone. The transaction is said to be executed via preferential equity shares and warrants for Rs...
Bankruptcy court admits IDBI Bank’s insolvency resolution plea against Wind World arm
The Mumbai bench of the National Company Law Tribunal (NCLT) has ordered the initiation of the corporate insolvency resolution process (CIRP) against Wind World (India) Infrastructure following an application filed by...
Bankruptcy court admits IDBI Bank’s insolvency resolution plea against Wind World arm
The Mumbai bench of the National Company Law Tribunal (NCLT) has ordered the initiation of the corporate insolvency resolution process (CIRP) against Wind World (India) Infrastructure following an application filed by...
RBI may allow Emirates NBD to acquire controlling stake in RBL Bank
India’s central bank is open to allowing Dubai-based lender Emirates NBD to acquire a controlling stake in RBL Bank, two sources said, as the regulator seeks to attract foreign investment and strengthen the...
Lloyds to buy Schroders’ stake in UK wealth joint venture
Lloyds Banking Group is to buy out Schroders’ 49.9% stake in their UK wealth joint venture, the companies said on Thursday, as the British bank looks to expand in the so-called ‘mass affluent’ sector...
HSBC to acquire Hang Seng unit for nearly $14 billion in Hong Kong bet
HSBC Holdings Plc proposed taking its troubled Hong Kong subsidiary Hang Seng Bank Ltd. private in a deal representing a major bet on the Chinese financial hub. The British lender’s shares plunged. London-based HSBC...
Lloyds to buy Schroders’ stake in UK wealth joint venture
Lloyds Banking Group is to buy out Schroders’ 49.9% stake in their UK wealth joint venture, the companies said on Thursday, as the British bank looks to expand in the so-called ‘mass affluent’ sector...
HSBC proposes $13.6 billion privatisation of Hong Kong’s Hang Seng Bank
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...
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...
