HSBC on Tuesday agreed to sell its retail banking operations in Bahrain to Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank. The deal will see a transfer of retail loans, deposits and accounts of...
RBI allows Temasek unit to raise stake in AU Small Finance Bank, shares rise
The Reserve Bank of India has given its approval to a Temasek unit to raise its stake in AU Small Finance Bank, the lender said on Thursday. This may make Zulia the largest foreign portfolio investor in the lender. RBI...
Due diligence of qualified bidders for IDBI Bank underway: MoS Finance
The due diligence of qualified bidders for IDBI Bank, which is up for privatisation, is underway, Minister of State for Finance Pankaj Chaudhary said on Monday. The government, along with LIC, is selling nearly 61 per...
Canada’s TD Bank to exit Charles Schwab stake worth $15.4 billion
Canada’s Toronto-Dominion Bank said it would offload its 10.1% stake in U.S. financial services firm Charles Schwab, as part of a strategic review undertaken following a landmark U.S. fine. TD holds 184.7 million...
Unipol-backed BPER joins Italy’s M&A frenzy with $4.5 bln Pop Sondrio bid
Italy’s fourth-largest bank BPER on Thursday joined in a raft of takeover bids rocking the country’s financial sector, with a 4.3 billion euro ($4.46 billion) all-share bid for Banca Popolare di Sondrio...
Govt rethinking disinvestment plan? Finance Minister Nirmala Sitharaman sets the record straight
After presenting the Union Budget on February 1, Finance Minister Nirmala Sitharaman has revealed where the government’s priorities lies when it comes to disinvestment and privatisation plans. “On...
ING looking for acquisitions to grow in Germany, Italy and Spain, says CEO
Dutch lender ING Group is looking for opportunities to buy rival banks in major European countries to boost its size, its chief executive told Reuters, potentially joining a wave of takeovers sweeping the region’s...
Monte dei Paschi launches $13.9 billion takeover bid for Mediobanca
State-backed Monte dei Paschi di Siena on Friday joined the consolidation wave sweeping Italian banking with a surprise 13.3 billion euro ($14 billion) all-share offer to buy merchant bank Mediobanca. The takeover...
Kotak Mahindra Bank acquires StanChart’s Rs 3,330-cr personal loan portfoilio
Kotak Mahindra Bank on Thursday said it has completed the acquisition of Rs 3,300 crore personal loan book of Standard Chartered Bank India following regulatory approvals. After having received the necessary regulatory...
Italian lender Monte dei Paschi explores deal for Mediobanca, Bloomberg News reports
Italian lender Monte dei Paschi (MPS) is considering a potential deal for investment bank Mediobanca, Bloomberg News reported on Thursday, citing people with knowledge of the matter. Mediobanca has a market value of...
IDBI selloff picks up pace as suitors get data access
IDBI Bank’s potential suitors have been granted confidential data access to carry out due diligence on the lender after a 12-month hiatus, during which their applications underwent government scrutiny, said people...
TransUnion buys out banks in Mexican credit bureau arm in $560 million deal
U.S. credit reporting agency TransUnion is buying a majority stake in its Mexican arm, it said on Thursday, buying out several major banks in a deal worth around $560 million. TransUnion’s stake in Trans Union de...
