All articles by Verdict Staff
Verdict Staff
BMO Financial Canadian P&C unit income surges 40% in Q1
The Canadian personal and commercial banking (P&C) arm of BMO Financial Group has reported a net income of C$743m for the first quarter of 2017, a 40% increase compared to C$529m in the prior corresponding period.
IBERIABANK to acquire Sabadell United Bank in $1bn deal
Louisiana-based IBERIABANK Corporation (IBKC), holding company of IBERIABANK, has agreed to acquire Sabadell United Bank from Banco de Sabadell in a stock-cash deal worth $1.025bn.
BOC Hong Kong to snap up parent’s Indonesia and Cambodia operations
BOC Hong Kong (Holdings), a Bank of China subsidiary, has agreed to acquire the Indonesia and Cambodia banking businesses from its parent.
Online lender SoFi raises $500m in funding
Online lending firm Social Finance (SoFi) has raised $500m in Series F financing led by private equity firm Silver Lake Partners.
Credit Union of Southern California opts for Fiserv digital banking platform
Credit Union of Southern California (CU SoCal), a 92,000 member credit union based in Anaheim, has chosen Fiserv’s digital banking platform dubbed Architect to offer a unified banking experience.
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Barclays appoints chairman of ring-fenced UK retail business
British banking group Barclays has named Ian Cheshire as the chairman of its new ring-fenced UK retail business.
FNB-Yadkin Financial merger secures final regulatory nod
Pennsylvania-based FNB has received the final regulatory approval from the Federal Reserve System and the Office of the Comptroller of the Currency (OCC) for its proposed merger of North Carolina-based Yadkin Financial.
DIFC signs cooperation agreement with GIFT
Dubai International Financial Centre (DIFC) has inked a memorandum of understanding (MoU) with Gujarat International Finance Tec-City (GIFT) to boost collaboration between the two financial centres.
MUFG launches digital bank in US
MUFG Union Bank has launched a new hybrid digital retail bank in the US, dubbed PurePoint Financial.
Standard Chartered net loss narrows to $478m in 2016
Standard Chartered has reported a net loss of $478m for the year ended 31 December 2016, a huge improvement compared to a loss of $2.36bn in 2015.