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...
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...
