JPMorgan Chase & Co. agreed to buy digital wealth manager Nutmeg Saving and Investment Ltd., part of a push to establish a retail banking presence in the U.K. Nutmeg, founded in 2012, has more than 140,000 customers...
HSBC to announce sale of French retail banking operations on Friday – sources
HSBC is set to announce the sale of its retail banking operations in France to private equity group Cerberus on Friday, three sources familiar with the matter said, after struggling to offload a business that will need...
Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger
Billionaire Mark Cuban-backed Dave said on Monday it would go public through a merger with a blank-check firm sponsored by investment firm Victory Park Capital, valuing the banking app at $4 billion. Launched in 2017...
Unipol’s move opens new chapter in Italian banking M&A saga
A small investment by Italian financial group Unipol in a local bank could put an end to the waiting game in Italian bank consolidation, aiding Rome’s efforts to finally cut its stake in ailing Monte dei Paschi (MPS)...
Fed approves acquisition of BBVA’s U.S. banking arm by PNC
The U.S. Federal Reserve said on Friday it had approved the acquisition of the U.S. operations of Spanish lender BBVA by PNC Financial Services Group Inc, clearing the way for a deal first announced in November. The $11...
Sarasin buys Bank of Montreal’s HK, Singapore private banking arms
J. Safra Sarasin Group has acquired Bank of Montreal’s private banking business in Hong Kong and Singapore, the Swiss group said on Monday, giving no financial terms for the deal announced in January. “This acquisition...
Neo banking startup StashFin raises $40 mn in Series B extension round
Singapore-based neo-banking startup, Morus Technologies Pte. Ltd, which operates the brand StashFin on Saturday said that it has raised $40 million as a part of its Series B extension round from a clutch of global...
HSBC in talks to sell French retail banking to Cerberus: source
HSBC has entered final negotiations to sell its French retail banking business to private equity firm Cerberus, a source familiar with the matter said on Wednesday. The planned disposal is part of HSBC Chief Executive...
Bank of Portugal governor expects banking M&A as natural step
Mergers and acquisitions are a “natural” next step for Portuguese banks pressured by record-low interest rates, Bank of Portugal Governor Mario Centeno said on Monday. Portugal had arrived late to the process of banking...
Indian Bank integrates core banking software of erstwhile Allahabad Bank
State-owned Indian Bank on Monday said it has successfully integrated the software system with the erstwhile Allahabad Bank post the amalgamation. The bank has successfully completed process of technical migration of...
Deutsche Bank should play leading role in banking consolidation – CEO
Deutsche Bank is gaining in financial strength, putting Germany’s largest lender in a position to play a leading role in European banking consolidation, CEO Christian Sewing was quoted on Sunday as saying. “We continue...
Islamic fintech Wahed Invest to buy UK digital banking app Niyah
Wahed Inc, a U.S.-based Islamic-finance fintech startup backed by Saudi Aramco, will acquire Niyah Ltd, a British company that runs a digital banking app designed for the Muslim community, the companies said on Thursday...