HSBC Holdings said it completed the C$13.5 billion ($9.96 billion) sale of its Canadian unit, HSBC Bank Canada, to Royal Bank of Canada (RBC) on Thursday. The transaction will result in the recognition of an estimated...
Kotak Bank acquires Sonata Finance for Rs 537 cr
Kotak Mahindra Bank on Thursday said it has acquired NBFC Sonata Finance Pvt Ltd for Rs 537 crore. Sonata is operating in 10 states through 549 branches and has an Asset Under Management (AUM) of approximately Rs 2,620...
ICICI Securities delisting gets nod, setting up merger with ICICI Bank
India’s ICICI Securities has secured shareholders’ nod to delist its stock, the brokerage said in the early hours of Thursday, paving the way to merge with parent and majority shareholder ICICI Bank. About...
UBS sells $8 billion of Credit Suisse assets to Apollo
UBS has sealed the sale of Credit Suisse’s securitised products business to Apollo Global Management as part of efforts to shed non-core assets after its takeover of the collapsed banking group. Apollo will...
Elliott and SoftBank set to merge Italian bad loan businesses
U.S. fund Elliott Management and Japan’s SoftBank Group are set to merge their Italian bad loan businesses in a cash-and-shares deal, SoftBank-backed doValue said on Thursday, as the industry consolidates to...
KCB Group to sell National Bank of Kenya to Nigeria’s Access
Kenya’s KCB Group has agreed to sell subsidiary National Bank of Kenya (NBK) to Nigeria’s Access Group, KCB’s chief executive said on Wednesday. Paul Russo told an investor briefing the deal was struck...
HDFC Bank closes $1.15 bn stake sale in education finance arm HDFC Credila
India’s HDFC Bank said on Wednesday it has completed the sale of its stake in education finance arm HDFC Credila for Rs 9,553 crore ($1.15 billion) to private equity firms BPEA EQT and ChrysCapital. The deal...
IL&FS moves NCLAT, seeks protection for group companies from wilful defaulter tag
The newly appointed board of debt-ridden IL&FS has moved an urgent application before the appellate tribunal NCLAT to restrain 11 public sector lenders from initiating proceedings to declare its group companies as...
Fosun open to sale of Portuguese bank stake, sources say
Fosun International is open to selling its remaining stake in Portugal’s Millennium bcp after disposing of some shares earlier this year, two sources familiar with the matter told Reuters. The Chinese...
National Bank of Canada denies media report of talks to sell its Cambodian unit
National Bank of Canada on Tuesday denied a media report that said it was in talks to sell its Cambodian unit, ABA Bank. Bloomberg News on Tuesday reported that the lender was exploring options for ABA Bank, including...
Australia’s ANZ selling 9% stake in Malaysia’s AmBank, term sheet shows
Australia’s fourth-biggest bank ANZ Group is selling around 298 million shares or 9% stake worth up to $242 million in Malaysian lender AMMB Holdings or AmBank, according to a term sheet seen by Reuters on Tuesday...
RBI approves AU Small Finance Bank acquisition of Fincare Small Finance Bank with effect from April 1
The Reserve Bank of India on Monday gave its go-ahead to the first ever merger between two small finance banks. As per the agreement between the two, shareholders of Fincare Small Finance Bank will receive 579 equity...
