Italy’s BPER Banca has agreed to buy the banking unit of its top shareholder Unipol for 220 million euros ($249 million) in cash, the two groups said on Friday. BPER, Italy’s sixth-largest bank, said the deal with...
Maharashtra State Co-operative Bank to enter retail banking through merger of UCB branches
The Maharashtra State Co-operative (MSC) Bank, the apex lender in the state’s three-tier cooperative banking sector, plans to enter the retail banking sector and compete with the private sector. It has proposed a new...
Schroders Plc and Lloyds Banking Group in talks over wealth management alliance
Asset manager Schroders Plc and Lloyds Banking Group said on Sunday they were in discussions over a wealth management alliance. The deal would be among the biggest wealth management tie-ups in recent years and would...
Poland’s Pekao eyes small buys in digital banking, asset management
Poland’s Bank Pekao (PEO.WA) could buy a small digital bank abroad as well as an independent asset manager at home, the chief executive of the country’s second biggest lender told Reuters on Saturday. Former Merrill...
Ruchi Soya case: ANZ Banking Group seeks NCLT intervention
The Australia and New Zealand (ANZ) Banking Group has moved the National Company Law Tribunal (NCLT), seeking its intervention in the insolvency and bankruptcy proceedings against Mumbai-based edible oils...
PSU bank privatization is not a panacea for the ills of the banking sector
The PNB fraud has rekindled the debate on bank privatization, often considered a solution for the poor management in public sector banks (). While government ownership of businesses is a bad idea and leads to poor...
‘Insolvency code biggest reform in banking’
This is not the right time for privatizing India’s public sector banks—both from the government’s perspective, and also from a valuation and markets’ standpoint, but the time has come for the consolidation of non...
ICICI Bank looks to raise Rs 4,020 cr by selling stake in investment banking arm
ICICI Bank will raise Rs 4,020 crore by selling a 24% stake in its brokerage and investment banking arm, ICICI Securities Ltd in an initial public offer (IPO) which will kick off on March 22 and close on March 26, one...
Bank recapitalisation and banking reforms finally go hand in hand
The Reserve Bank of India (RBI) and the finance ministry have been jointly working on the Rs2.1 trillion recapitalisation package for public sector banks. This piece of information released at the RBI governor’s press...
Brazil banking clans may pay $1.1 billion for Havaianas maker, sources say
Brazil’s most prominent banking clans could pay between 3.3 billion reais and 3.5 billion reais ($1 billion and $1.1 billion) for a majority stake in Havaianas flip-flop maker Alpargatas SA, two people with...
SBI’s merger could see the banking behemoth leapfrogging into the global top 50
It’s like a diet. Sometimes the simplest things are the hardest to implement,” says Arundhati Bhattacharya, chairman, State Bank of India (SBI), drawing a health analogy like the quintessential Bengali. In mid-February...
Federal Bank plans sell 26% stake in its non-banking arm
Federal BankBSE 0.05 % is planning to sell an up to 26% stake in its non-bank finance unit, Fedbank Financial Services, to private equity firms to raise Rs 400-500 crore, two people with direct knowledge of the matter...