Banking And Finance NEWS

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”


Contractors warned over looming online tax return deadline

As HM Revenue and Customs (HMRC) threatens 300,000 late filers with debt-recovery actions that could include the seizure of goods, accountancy experts have issued a warning to contractors over the looming deadline for … Continue reading “Contractors warned over looming online tax return deadline”


US banks see higher earnings on capital market activity, mortgage refinancing

Increased capital market activity drove stronger earnings and increased profitability for major US banks in the third quarter of last year, according to ratings agency Fitch Ratings. Fitch said that strong debt issuance, … Continue reading “US banks see higher earnings on capital market activity, mortgage refinancing”


BNP Paribas to sell Egyptian arm to Dubai-based Emirates NBD

French lender BNP Paribas SA (EPA:BNP) has entered into an agreement to sell its entire 95.2% interest in its Egyptian unit to Dubai-based bank Emirates NBD PJSC (DFM:ENBD), the parties announced today. In … Continue reading “BNP Paribas to sell Egyptian arm to Dubai-based Emirates NBD”


Sumitomo Life close to acquiring 18% stake in Vietnamese Bao Viet from HSBC

Japanese insurer Sumitomo Life Insurance Company is nearing an agreement to buy  an 18% stake in Vietnamese financial services group  BaoViet Holdings from British banking giant HSBC (LON:HSBA), Reuters reported citing a knowledgeable source. … Continue reading “Sumitomo Life close to acquiring 18% stake in Vietnamese Bao Viet from HSBC”


Virgin Money to sell private bank Church House Trust

UK financial services company Virgin Money Holdings (UK) Limited said it had agreed to sell regional private bank Church House Trust Limited to specialist credit card provider SAV Credit Limited for an undisclosed … Continue reading “Virgin Money to sell private bank Church House Trust”


HM Treasury allocates £200m to Pru for UK middle market investments

The investment management unit of international financial services group Prudential Financial (NYSE: PRU), Prudential Capital Group, said that UK economics and finance ministry Her Majesty’s Treasury has allocated GBP 200m (about USD 323m) of a … Continue reading “HM Treasury allocates £200m to Pru for UK middle market investments”


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