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...
Three banks seal merger to form Hungary’s No.2 banking group
State-owned Budapest Bank and MKB Bank and savings group Takarekbank (MTB) have signed a deal to form Hungary’s second-largest banking group, the minister responsible for the agreement told state news agency MTI late on...
NCB-Samba to merge into Saudi banking heavyweight
Saudi Arabia’s biggest lender National Commercial Bank (NCB) has entered a binding merger agreement with smaller lender Samba Financial Group to create a combined entity with 837 billion riyals ($223 billion) in...
Adobe, IBM team up on marketing software for banking industry
Adobe Inc and International Business Machines Corp said on Tuesday they are teaming up to make marketing software easier to use for banks that face strict controls on how customer data must be handled. Banks handle...
Mega bank merger marks new dawn for Indian banking space: Finance Ministry
The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday. Six public sector banks (PSBs)...
Banking industry in a fix as merger date for PSBs nears
The banking industry is divided over whether to postpone the amalgamation of 10 public sector banks scheduled for 1 April. While some of the smaller banks want the merger to be pushed beyond the deadline, others want it...
Cabinet nod for banking game-changer , 10 PSBs to turn into four big banks
The Cabinet has approved the consolidation of 10 public sector banks (PSBs) into four ‘mega banks’, Finance Minister Nirmala Sitharaman announced today. The Union Cabinet, she said, has given a go-ahead for...
Intesa’s UBI bid fires starting gun on European banking M&A
Intesa Sanpaolo’s surprise 4.9 billion euro ($5.3 billion) takeover bid for UBI Banca answers supervisor calls for mergers to bolster Europe’s banking sector and its global clout, Italy’s top retail bank said. Intesa...
Timing is still not quite right for Italian banking mergers
Consolidation in Italy’s banking industry will probably be postponed – again. Potential tie-ups were high on the agenda of the bankers who gathered on Saturday in the northern town of Brescia for the Assiom Forex...
Digital banking initiatives of PSBs under merger likely to be delayed
Digital banking initiatives of public sector banks (PSBs), which are in the process of being merged, are likely to be delayed pending integration of core banking platforms. According to bank officials in the know...
Australia’s Suncorp sells smash repairs arm to focus on insurance, banking
Australian insurer Suncorp Group Ltd SUN.AX said it will sell its vehicle repair business for A$420 million ($283.5 million) as it seeks to focus on its core insurance and banking operations after disappointing results...
SocGen wants to play key role in Europe’s banking M&A: chairman
Societe Generale wants to play a key role in a European banking consolidation process that it expects to happen even if conditions are not right at the moment, the chairman of the French bank said. Lorenzo Bini Smaghi...