Banking And Finance NEWS

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”


Italy’s UniCredit raises €890m from sale of stake in Poland’s Bank Pekao

Italian financial group UniCredit SpA (BIT:UCG) said it had pocketed some EUR890m (USD1.2bn) from the sale of 9.1% in its Polish unit Bank Pekao SA (PINK:BKPKF). The group sold around 23.9m Pekao shares … Continue reading “Italy’s UniCredit raises €890m from sale of stake in Poland’s Bank Pekao”


Citigroup seeks buyers for Brazilian credit card and consumer finance unit

US financial services group Citigroup Inc (NYSE:C) is looking to divest the Credicard consumer finance unit of its Brazilian business as part of a plan to concentrate on its strongest operations, the Valor … Continue reading “Citigroup seeks buyers for Brazilian credit card and consumer finance unit”


HSBC sells sells its stake in Greek mutual fund manager HSBC Hellas

UK-based HSBC Holdings plc (LON:HSBA) said its unit HSBC Bank plc had agreed to offload its 73% interest in Greek mutual fund manager HSBC (HELLAS) Mutual Funds Management SA (HSBC AEDAK) to minority … Continue reading “HSBC sells sells its stake in Greek mutual fund manager HSBC Hellas”


Navigate Articles by Page ....

1 6 7 8 9 10 16