All articles by Verdict Staff
Verdict Staff
Putnam County Savings Bank to buy CMS Bancorp
Putnam County Savings Bank (PCSB) has agreed to acquire CMS Bancorp, the holding company for CMS Bank, for approximately $25.4m.
Standard Chartered, HSBC shut branches in Hong Kong banks over protests
Global banking giants Standard Chartered and HSBC were among banks that shut branches in Hong Kong as mass pro-democracy protests gripped several parts of the city.
Alibaba gets approval to set up private bank in China
The China banking regulatory commission (CBRC) has granted e-commerce giant Alibaba approval to set up a private bank as it diversifies into financial services.
Lloyds Banking Group to sell further 11.5% stake in TSB
Lloyds Banking Group has announced plans to sell a further 11.5% stake (57.5 million shares) in TSB Banking Group in a private placement to institutional investors, under orders from the European regulators.
Mediterranean Bank completes acquisition of Volksbank Malta
Mediterranean Bank has completed the acquisition of 100% of the issued share capital of Volksbank Malta after receiving approval from the Malta Financial Services Authority (MFSA).
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Atos launches new solution with cloud based Big Data services for retail banks
IT services firm Atos in partnership with NGDATA has launched omni channel solution with cloud based Big Data services to improve banks customer intelligence.
Bandhan Financial in talks to sell 30% stake to raise money for expansion plans
Kolkata-based micro finance firm Bandhan Financial, the parent of start-up bank Bandhan, is in talks with global private equity funds to sell about 30% stake which is aimed to raise about $400m for the new bank and aid its expansion plans.
VTB Bank to sell 20% stake in Cyprus bank to Otkritie
Russia’s state-run bank VTB Bank is set to sell about 20% of its stake in Cyprus-based lender RCB Bank to Otkritie Bank.
Walmart moves into banking with no-fee checking accounts
Retail giant Walmart has collaborated with Green Dot to launch GoBank, a mobile-first checking account that aims to serve the nation’s under-banked.
Slow economy could halt Russia’s consumer credit market: Home Credit Bank
The consumer credit market in Russia could come to a halt by next year, following downturn in the country’s economy and reduction in banks’ lending, Home Credit and Finance Bank’s chairman Ivan Svitek said at the Reuters Russia Investment Summit.