Banking And Finance NEWS

UK banking giant HSBC to offload homeowner loan portfolio in $3.2bn deal

UK financial services major HSBC Holdings Plc (LON:HSBA) announced that an indirect wholly-owned unit will sell its personal unsecured loan and personal homeowner loan portfolios to a subsidiary of US-based Springleaf Finance Inc … Continue reading “UK banking giant HSBC to offload homeowner loan portfolio in $3.2bn deal”


Dutch ING completes sale of UK online banking business to Barcalys

Dutch financial services group ING Groep NV (AMS:INGA) said on Wednesday it had concluded the sale of its UK-based online banking business ING Direct UK to Barclays Plc (LON:BARC) for a non-specified sum. … Continue reading “Dutch ING completes sale of UK online banking business to Barcalys”


New incentive to help quit smoking could make you a millionaire

Many people are already aware of the financial costs of maintaining a smoking habit; cigarette prices continue to rise in an attempt by the government to cease the nations smoking habit, alongside other … Continue reading “New incentive to help quit smoking could make you a millionaire”


The Libor Scandal: RBS facing fine of £390m

The Royal Bank of Scotland has been in the spotlight this month, after a fine was issued for the bank’s role in the Libor rate-fixing scandal. The London inter-bank lending rate, or Libor, … Continue reading “The Libor Scandal: RBS facing fine of £390m”


HSBC increases stake in Irish oil and gas explorer Providence

UK financial services major HSBC Holdings Plc (LON:HSBA) has increased its interest in Irish oil and gas exploration and appraisal firm Providence Resources Plc (LON:PVR) to 6.65% as of 15 February, the latter … Continue reading “HSBC increases stake in Irish oil and gas explorer Providence”


HSBC sells Panama operations to Bancolombia in $2.1bn deal

UK financial giant HSBC Holdings plc (LON:HSBA) said Tuesday it had agreed to sell HSBC Bank (Panama) SA to Colombian lender Bancolombia SA (NYSE:CIB) for USD2.1bn (EUR1.6bn) in cash. The offload, which will be … Continue reading “HSBC sells Panama operations to Bancolombia in $2.1bn deal”


Aviva mandates Barclays to find buyers for Turkish insurance arm

UK insurer Aviva Plc (LON:AV) has picked Barclays Plc (LON:BARC) to assist it in selling its Turkish non-life insurance unit Aviva Sigorta AS, according to media reports today. Aviva, which had announced a … Continue reading “Aviva mandates Barclays to find buyers for Turkish insurance arm”


Local insurance groups mull bids for HSBC’s Indian life insurance venture

Indian life insurers HDFC Life, Birla Sun Life and ICICI Prudential Insurance Co are considering a potential deal for the local life insurance joint venture of UK’s HSBC Holdings Plc (LON:HSBA), two sources … Continue reading “Local insurance groups mull bids for HSBC’s Indian life insurance venture”


Barclays announces job cuts and transformation plan

Barclays said today that it is aiming to transform its business after a series of scandals rocked the bank and the wider industry. New chief executive Antony Jenkins, who took over from Bob … Continue reading “Barclays announces job cuts and transformation plan”


Carlyle completes TCW MBO from France’s Societe Generale

US asset manager The TCW Group Inc has completed its journey to independence after its management and The Carlyle Group LP (NASDAQ:CG) finalised the purchase of the business from French banking major Societe … Continue reading “Carlyle completes TCW MBO from France’s Societe Generale”


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