Banking And Finance NEWS

HSBC sells Singapore insurance unit to AXA Life

UK financial major HSBC Holdings plc (LON:HSBA) said Wednesday that fully-controlled unit HSBC Insurance (Singapore) Pte Ltd had inked an accord to sell its group term life insurance and group medical insurance portfolios in … Continue reading “HSBC sells Singapore insurance unit to AXA Life”


UK banking major HSBC sells Candian consumer finance opeations

UK banking group HSBC Holdings plc’s (LON:HSBA) indirect Canadian unit HSBC Retail Services Limited said it would sell its consumer private label credit card portfolio to TD Financing Services Inc, a subsidiary of … Continue reading “UK banking major HSBC sells Candian consumer finance opeations”


Exxon mandates Barclays to find buyers for 30% stake in Hong Kong’s Castle Peak

US oil and gas giant Exxon Mobil Corp (NYSE:XOM) has mandated Barclays Plc (LON:BARC) to help it sell nearly half of its 60% stake in Hong Kong-based coal-fired power stations operator Castle Peak … Continue reading “Exxon mandates Barclays to find buyers for 30% stake in Hong Kong’s Castle Peak”


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”


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