UniCredit CEO Andrea Orcel approached German lender Commerzbank’s management earlier on Wednesday inviting the bank to explore merger talks, a source with knowledge of the matter told Reuters. Italy’s...
US lender NBT Bancorp to buy Evans Bancorp in $236 mln deal
U.S. lender NBT Bancorp has agreed to buy Evans Bancorp in a deal that values it at nearly $236 million, as it looks to expand its footprint in western New York. Small and mid-size banks have been ramping up dealmaking...
Greece’s Attica Bank shareholders approve merger with Pancretan Bank
Attica Bank shareholders approved on Tuesday the bank’s deal to merge with the smaller Pancretan Bank in an effort to clean up its balance sheet and create a new banking organisation, the bank said in a bourse...
Billionaire Buffett again sells BofA shares worth about $845 million
Billionaire Warren Buffett’s Berkshire Hathaway has once again cut its stake in Bank of America with a share sale worth roughly $845 million, a regulatory filing showed on Friday. The conglomerate run by one of...
Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Talks to sell majority stakes in two Indian banks have attracted interest from foreign peers in Japan and the Middle East betting on a fast-growing economy, but tighter regulations and valuation concerns could curb...
Axis Bank to sell stake in finance unit, looks at listing too
Axis Bank may bring a strategic investor for Axis Finance or even consider a public listing of the non-banking subsidiary, a top executive said. The decision was prompted by the banking regulator’s discomfort with...
Canada’s Scotiabank buys 14.9% stake in US regional lender KeyCorp for $2.8 bln
Scotiabank is buying a 14.9% stake in American regional lender KeyCorp for $2.8 billion, as the Canadian bank taps into the stressed regional U.S. banking sector for growth outside its saturated home market. KeyCorp...
SocGen to sell UK, Swiss private bank units for about $1 bln
Societe Generale has agreed to sell its British and Swiss private banking units to Switzerland’s Union Bancaire Privee (UBP) for 900 million euros ($984 million) the French bank said on Monday as it speeds up its...
IDBI Bank sells distressed Rs 6151 cr portfolio to Omkara ARC
IDBI Bank is selling its Rs 6,151 crore legacy stressed asset portfolio to Omkara Asset Reconstruction Company (ARC) in a move that will help the government fetch an improved valuation for the proposed stake sale in the...
Kotak to buy IDBI Bank? RBI identifies eligible bidders for state bank’s stake sale
The Reserve Bank of India has completed its review of potential buyers for a majority stake in IDBI Bank, approving Fairfax Financial Holdings, Emirates NBD and Kotak Mahindra Bank as bidders, three sources aware of the...
Financial bids for IDBI bank likely this fiscal; PSU banks sale on hold: DIPAM Secretary
The government hopes that IDBI Bank will receive financial bids by the end of this financial year. In an exclusive interview with ANI, Tuhin Kant Pandey, Secretary of the Department of Investment and Public Asset...
Yes Bank in stake sale talks to give exit to its lenders
Private sector lender Yes Bank is working towards giving an exit to its current shareholders, particularly State Bank of India (SBI), managing director and chief executive Prashant Kumar told ET. Kumar also confirmed...
