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...
Govt to push forward IDBI Bank stake sale after RBI key clearance
India will press ahead with the delayed sale of a majority stake in IDBI Bank after central bank clearance, opening bids for the lender before the end of the financial year, a top finance ministry official said on...
Metro Bank sells residential mortgage portfolio to NatWest for $3 bln
Britain’s Metro Bank is selling its portfolio of prime residential mortgages to NatWest Group for up to 2.4 billion pounds ($3.1 billion) in cash, it said on Friday. The sale is expected to reduce Metro’s...
LVB-DBS merger: SC stays Madras HC order asking RBI to conduct fresh valuations of assets and shares of banks
The Supreme Court on Wednesday stayed a Madras High Court order that asked the Reserve Bank of India to conduct a fresh valuation of shares and assets of Lakshmi Vilas Bank and DBS Bank India in their 2020 merger case...
IDBI Bank’s stake sale: Progress at last
The Reserve Bank of India has reportedly certified bidders for IDBI Bank as “fit and proper”, paving the way for the government to sell a big equity stake in the bank. RBI’s fitness and propriety norms are meant...
No final bids from ARCs for IDBI’s Stressed Assets Stabilisation Fund assets
IDBI Bank’s Stressed Assets Stabilisation Fund (SASF), which was looking to recover 11.59% from the sale of non-performing loans worth ₹6,151 crore, has hit a roadblock. Despite receiving 18 expressions of...
Byju’s creditor Surfer Technologies settles insolvency case with edtech firm
Gurugram-based Surfer Technologies told the Bengaluru bench of the National Company Law Tribunal (NCLT) on Wednesday that it has reached an amicable settlement with Byju’s and hinted that it would withdraw its...
YES Bank’s $5 billion stake said to attract lenders from the Middle East, Japan
First Abu Dhabi Bank PJSC is among potential suitors for a roughly $5 billion stake in India’s Yes Bank Ltd., according to people with knowledge of the matter. The Middle Eastern lender is weighing a bid for as much as...
YES Bank denies report on 51% stake sale, calls it ‘factually incorrect’
Private lender YES Bank refuted a news report that claimed the Reserve Bank of India (RBI) has approved for the sale of a 51 per cent stake in the bank. “The contents of the said article are factually incorrect and...
Metro Bank says it is in talks on potential mortgage portfolio sale
British lender Metro Bank said on Monday it was in talks about a potential disposal of residential mortgage loans worth billions of pounds. The size of the portfolio, which is yet to be finalised, could be closer to 4...
LIC raises stake in IDFC First Bank to 2.68% at ₹80.63/share via private placement offer
The Life Insurance Corporation of India (LIC), India’s largest insurance company, said on Thursday, July 4, that it acquired a 0.2 per cent stake in IDFC First Bank Limited for ₹80.63 per share, increasing its...
Wipro asks NCLT to junk Ivalua’s insolvency plea
Wipro Limited Tuesday sought dismissal of Ivalua’s insolvency plea before the National Company Law Tribunal (NCLT). Wipro’s counsel contended that the company was not under any obligation to clear the...
