Banking And Finance NEWS

US financial services firm MetLife sells mortgage unit to JP Morgan

US insurer MetLife Inc (NYSE:MET) said it had inked an accord to sell the mortgage servicing portfolio of its banking unit MetLife Bank NA to JPMorganChase Bank NA, part of financial major JPMorgan … Continue reading “US financial services firm MetLife sells mortgage unit to JP Morgan”


Barclays delays Bank Windhoek bid until Absa merger is completed

UK financial group Barclays plc (LON:BARC) said it had put off its bid to acquire a controlling stake in Namibia’s Bank Windhoek Ltd from financial services group Capricorn Investment Holdings Ltd until it … Continue reading “Barclays delays Bank Windhoek bid until Absa merger is completed”


Canada’s TD Bank acquires Target’s credit card operation

Canada’s Toronto-Dominion Bank (TSE:TD), or TD Bank, said it has reached a deal to purchase the existing US Visa and private label card portfolio of Target Corp (NYSE:TGT) for an undisclosed amount. The … Continue reading “Canada’s TD Bank acquires Target’s credit card operation”


US investor optimism up 14%, according to UBS survey

Swiss financial firm UBS’s (NYSE: UBS) UBS Wealth Management Americas (WMA) unit said it has launched its Investor Watch report, a new quarterly survey of US private clients’ investment decisions and primary concerns as the nation approaches the November 6 election. … Continue reading “US investor optimism up 14%, according to UBS survey”


Stearns Bank takes over rescued rival First East Side Savings Bank

Stearns Bank NA, the operating subsidiary of US financial holding company Stearns Financial Services Inc, announced the acquisition of Florida-based First East Side Savings Bank without disclosing financial terms. The sale followed the … Continue reading “Stearns Bank takes over rescued rival First East Side Savings Bank”


Dutch ING Bank sells UK online arm ING Direct to Barclays

Dutch banking group ING Groep NV (AMS:INGA) on Tuesday said it had agreed to shed its British online banking business ING Direct UK to Barclays Plc (LON:BARC), without disclosing the value of the … Continue reading “Dutch ING Bank sells UK online arm ING Direct to Barclays”


RBS offloads consumer loans to financial services firm Paragon

British first mortgage and consumer finance firm Paragon Group Of Companies Plc (LON:PAG) said on Monday it had paid GBP25,000 (USD40,000/EUR31,000) to buy a portfolio of unsecured consumer loans from The Royal Bank … Continue reading “RBS offloads consumer loans to financial services firm Paragon”


Wheatley Review sets out Libor reform recommendations

Wholesale reform of Libor is needed in order to restore the credibility of the international benchmark, FSA managing director Martin Wheatley said today. Releasing his report on the future of the London inter-bank … Continue reading “Wheatley Review sets out Libor reform recommendations”


GE Capital partly exits Thailand’s Bank of Ayudhya in $466m deal

GE Capital, a unit of US technology and financial services group General Electric Co (NYSE:GE), said on Wednesday it had disposed of 7.6% in Bank of Ayudhya Pcl (PINK:BKAYY) in Thailand, after receiving … Continue reading “GE Capital partly exits Thailand’s Bank of Ayudhya in $466m deal”


City of London opposes tighter regulation of high-frequency trading

European politicians drafting tough new curbs on the controversial trading practice high frequency trading (HFT) have faced stiff resistance from the industry – especially the City of London. The European Parliament plans to … Continue reading “City of London opposes tighter regulation of high-frequency trading”


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