Banking And Finance NEWS

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”


HSBC sells stake in Asian JV with Global Payments for $242m

US payment processing services provider Global Payments Inc (NYSE:GPN) has executed an agreement that will give it full ownership of the Asian-Pacific joint venture established in partnership with The Hongkong and Shanghai Banking … Continue reading “HSBC sells stake in Asian JV with Global Payments for $242m”


Blackstone to acquire Intertrust from Dutch sponsor Waterland

US buyout firm The Blackstone Group LP (NYSE:BX) has entered into an agreement to acquire trust and corporate services provider Intertrust Group Holding SA from Dutch investor Waterland Private Equity Investments BV, the … Continue reading “Blackstone to acquire Intertrust from Dutch sponsor Waterland”


HSBC agrees to sell stake in Chinese insurer Ping An to Thailand’s Charoen in $9.4bn deal

British banking and financial services group HSBC Holdings Plc (LON:HSBA) on Wednesday announced a HKD72.74bn (USD9.4bn/EUR7.2bn) agreement for the sale of its 15.57% in Chinese insurer Ping An Insurance (Group) Company of China … Continue reading “HSBC agrees to sell stake in Chinese insurer Ping An to Thailand’s Charoen in $9.4bn deal”


National Bank of Greece to acquire rival EFG Eurobank Ergasias

National Bank of Greece (NYSE:NBG) said its shareholders had given the go-ahead to the planned acquisition of local peer EFG Eurobank Ergasias SA. The shareholder meeting, which was held on Friday, followed two … Continue reading “National Bank of Greece to acquire rival EFG Eurobank Ergasias”


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