Banking And Finance NEWS

Cases of serious tax evasion cases in the UK fall to lowest level in five years

Law firm Pinsent Masons reported today that cases of serious tax evasion in the UK, as established by HM Revenue & Customs (HMRC) has dropped by 16% over the past year to the … Continue reading “Cases of serious tax evasion cases in the UK fall to lowest level in five years”


Swiss private bank UBP acquires Lloyds’ international private banking arm for £100m

Swiss private bank Union Bancaire Privee UBP SA has agreed to take over UK Lloyds Banking Group plc’s (LON:LLOY) international private banking arm for up to GBP100m (USD151.7m/EUR117m) in cash, the companies said … Continue reading “Swiss private bank UBP acquires Lloyds’ international private banking arm for £100m”


UK private equity firm 3i tables bid for Barclays Infrastructure Funds Management

UK private equity firm 3i Group plc (LON:III) on Friday said it had put in an irrevocable bid to buy Barclays Infrastructure Funds Management Ltd (BIFM), the European infrastructure fund management business of … Continue reading “UK private equity firm 3i tables bid for Barclays Infrastructure Funds Management”


Greece aims to sell stakes in Postbank and Proton Bank in July

Greece’s rescue fund Hellenic Financial Stability Fund (HFSF) intends to divest Hellenic Postbank SA (ATH:TT) and Proton Bank SA by the middle of July, Reuters said, citing an inspection review by the European … Continue reading “Greece aims to sell stakes in Postbank and Proton Bank in July”


Lloyds to bank £325m from sale of commercial property loans

UK Lloyds Banking Group plc (LON:LLOY) said Friday it had inked an accord to divest a portfolio of UK commercial real estate loans to Promontoria Thames Ltd for GBP325m (USD501.2m/EUR384.6m) in cash. The … Continue reading “Lloyds to bank £325m from sale of commercial property loans”


Lloyds agrees sale of Spanish retail banking operations to Sabadell

UK’s Lloyds Banking Group plc (LON:LLOY) on Monday said it would sell its retail banking activities in Spain to local lender Banco de Sabadell SA (MCE:SAB) in a cash and stock transaction, as … Continue reading “Lloyds agrees sale of Spanish retail banking operations to Sabadell”


Dutch bank ING sells stake in South Korean arm KB Life Insurance

Dutch financial services group ING Groep NV (AMS:INGA) on Friday revealed an agreement to dispose of its 49% in South Korean insurance joint venture KB Life Insurance Company Ltd for KRW166.5bn (USD149.1m/EUR114.1m) in … Continue reading “Dutch bank ING sells stake in South Korean arm KB Life Insurance”


HSBC agrees to sell Macau-based general insurance operation to QBE

UK financial group HSBC Holdings Plc (LON:HSBA) on Thursday said it had agreed to dispose of its general insurance operations in Macau to QBE Insurance (International) Limited. HSBC will carry out the divestment … Continue reading “HSBC agrees to sell Macau-based general insurance operation to QBE”


Global economy faces continued sluggish growth, according to Dun & Bradstreet

US commercial information provider Dun & Bradstreet (NYSE: DNB) said it has published a five-year forecast of the global economy predicting continued but sluggish growth against challenging headwinds, differing from region to region. D&B said … Continue reading “Global economy faces continued sluggish growth, according to Dun & Bradstreet”


Regulatory hurdles delay merger of Greece’s Eurobank and National Bank of Greece

The planned merger of Eurobank Ergasias SA (ATH:EUROB) and its parent, National Bank of Greece SA (ATH:ETE), or NBG, has been postponed due to a regulatory authorities’ decision to recapitalise both banks separately, … Continue reading “Regulatory hurdles delay merger of Greece’s Eurobank and National Bank of Greece”


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