Australia and New Zealand Banking Group is buying the banking arm of insurer Suncorp Group for A$4.9 billion ($3.33 billion), as the smallest of Australia’s major lenders seeks to revive growth at home after...
HCL Tech to buy digital banking, wealth management specialist Confinale
HCL Technologies UK, a wholly-owned subsidiary of HCL Technologies (HCL), has signed a definitive agreement for the acquisition of Confinale AG, a Switzerland-based digital banking and wealth management consulting...
SoFi to buy banking-infrastructure firm Technisys for about $1.1 billion
SoFi Technologies Inc. is buying banking-software maker Technisys SA for about $1.1 billion, the latest in a string of deals designed to transform the lender into a one-stop financial shop. The all-stock deal is...
UniCredit chairman says banking M&A needs European focus -La Stampa
Banking mergers should be aimed at European expansion, UniCredit Chairman Pier Carlo Padoan said in a newspaper interview on Monday, warning against deals that make lenders more domestically focused. UniCredit last year...
SME neo-banking platform Open buys Finin for $10 mn in cash-and-stock deal
Open, the SME neo-banking platform on Tuesday announced the acquisition of consumer neo-banking platform Finin for $10 Million in a cash-and-stock deal. The acquisition will strengthen Open’s cloud native enterprise...
Government to amend banking laws to facilitate privatisation of two PSU banks
To facilitate privatisation of two public sector banks (PSBs), the government is all set to introduce a banking laws amendment bill in the upcoming Winter Session starting Monday. Finance Minister Nirmala Sitharaman...
Cowen buys M&A advisory firm Portico to beef up investment banking
Cowen Inc said on Tuesday it would buy Portico Capital Advisors, an advisory firm focused on dealmaking in the software industry, as the financial services firm seeks to bolster its investment banking business. Cowen...
SoftBank, Amazon, Accel invest $108 mln in banking platform Pismo
Brazilian banking and payments tech platform Pismo raised $108 million in an investment round led by Japan’s SoftBank Group Corp, Amazon.com Inc and global venture capital firm Accel, it announced on Tuesday...
Northern Arc Capital raises ₹100 crore debt from Sumitomo Mitsui Banking
Northern Arc Capital, a platform in the financial services sector, on Wednesday said it has raised ₹100 crore debt from Japan’s Sumitomo Mitsui Banking Corporation (SMBC). SMBC is Japan’s second-largest and the...
Deutsche Bank CFO: There should be banking M&A, we must prepare
Deutsche Bank sees the logic that there should be consolidation in the European banking sector and the task in hand is to prepare for that outcome, Chief Financial Officer James von Moltke said on Thursday. Hewing...
Japan’s MUFG to exit U.S. retail banking in $8 billion deal with U.S. Bancorp
Mitsubishi UFJ Financial Group (MUFG) is pulling back from U.S. retail banking with the $8 billion sale of MUFG Union Bank (MUB) to U.S. Bancorp as digital technology and industry consolidation squeeze out smaller...
JPMorgan makes Brazilian retail banking debut with 40% stake in C6 Bank
JPMorgan Chase & Co has taken a 40% stake in Brazilian digital bank C6 Bank, the companies said on Monday, making its retail debut in Latin America’s biggest economy. JPMorgan in January announced plans to...