Lloyds Banking Group is exploring a potential takeover of Aldermore, the lender being sold by South Africa’s FirstRand amid a motor finance mis-selling scandal engulfing Britain’s banking sector, Sky News...
Banking
Emirates NBD completes acquisition of RBL Bank
Emirates NBD has successfully completed the acquisition of a majority stake in RBL Bank Limited through a primary infusion of about $2.75 billion (Rs 26,000 crore), the two entities announced on Thursday. The...
India is said to weigh another mega merger, hike in FDI limit for public sector banks
The Union finance ministry may ask a new banking reforms committee to consider proposals to merge 12 state-run lenders into five and raise their foreign investment cap to 49%, three people aware of the discussions said...
Centre to raise ₹13,000 cr via OFS in three state-run banks
The government plans to raise around ₹13,000 crore through an offer for sale in Punjab & Sind Bank, UCO Bank and Indian Overseas Bank to meet the minimum public shareholding norms prescribed by the Securities and...
Italy neutral on Monte Paschi, may sell its stake through share placement
The Italian government will take a neutral stance regarding merger and acquisition moves targeting bailed-out bank Monte dei Paschi di Siena (MPS), the economy minister told parliament on Thursday. Addressing lawmakers...
Intesa reassured Rome over Generali in talks on Monte Paschi bid, sources say
Intesa Sanpaolo has committed to consulting with Italy’s government over future decisions affecting insurer Generali, sources said on Monday, as part of assurances the bank offered Rome regarding its plan to...
Lyptus Punch-Card Fund buys stake in Capital Small Finance Bank
Capital Small Finance Bank share price will be in focus on Wednesday after a significant block deal in the stock. Oman India Joint Investment Fund II (OIJIF II), a private equity investment firm promoted by the...
Italy’s Intesa launches Monte dei Paschi takeover bid
Intesa Sanpaolo on Monday launched a bid to acquire all shares of Banca Monte Dei Paschi Di Siena (MPS), the company said. Intesa said its share-and-cash offer entailed a premium of 12.5% versus Monte dei...
Axis Bank hikes stake in Axis Max Life Insurance to 19.9%
Private lender Axis Bank on Monday said it has raised its stake in Axis Max Life Insurance Company to 19.9 per cent. Based on approval granted by the Acquisitions, Divestments and Merger Committee of the board of...
MPS CEO says no merger talks with BPM, focus is on Mediobanca
Italy’s Monte dei Paschi di Siena (MPS) is focused on integrating recently acquired Mediobanca and is not holding merger talks with Banco BPM, CEO Luigi Lovaglio said on Friday. Italian media reported on...
IDBI Bank stake sale back on table; Centre explores revival options
The Centre is exploring ways to revive the stalled privatisation of IDBI Bank, people familiar with the matter told ET. The choices include examining whether earlier rejected bids, from Prem Watsa-led Fairfax Financial...
MPS, Banco BPM discussed merger after Lovaglio reappointed, Italian news agency says
Italy’s Monte dei Paschi di Siena (MPS) and rival Banco BPM held talks about a long-mooted potential merger shortly after Luigi Lovaglio was reappointed as MPS CEO in April, Italian news agency Adnkronos...
