French banks BNP Paribas and BPCE in payments sector tie-up
BNP Paribas (BNPP.PA), the euro zone’s biggest lender, and French rival BPCE plan to form a joint venture in the payments sector, the two companies said on Thursday. They will compete against Nexi (NEXII.MI), and Worldline (WLN.PA), with the aim of operating the third-biggest payments processor in Europe, the pair said. The two banks will invest 100 million euros ($107 million) […]
Singapore’s top bank DBS eyes $370 bln in wealth assets by 2026, top exec says
DBS Group (DBSM.SI), opens new tab plans to boost assets under management for its wealth business to S$500 billion ($369.7 billion) by the end of 2026, said the unit’s head, as the top Singaporean bank bets on robust inflows into the city state. Wealth assets at DBS grew 23% to a record S$365 billion last year, as […]
US SEC sought additional disclosures in NYCB’s proxy statement, filings show
The U.S. Securities and Exchange Commission in April had sought additional disclosures from New York Community Bancorp (NYCB.N), opens new tab in its preliminary proxy statement, regulatory filings made by the regional lender showed on Monday. The regulator requested NYCB to revise its proxy filing to briefly discuss the reasons for its recent capital-raise including its initiative […]
In the Market: How US is daring the world to find a dollar alternative
The United States is merrily chipping away at the pillars that hold up the dollar as the world’s reserve currency, with the latest blows coming from some powerful Americans questioning the rule of law following the conviction of Donald Trump. In doing so, it is effectively daring the rest of the world to find an […]
UBS sets aside $900 mln to repay investors in collapsed Greensill funds
UBS (UBSG.S), will set aside around $900 million to repay investors in Credit Suisse funds that were linked to collapsed supply chain financing firm Greensill Capital, accounting for 90% of what they are owed, UBS said on Monday. The bank has been seeking to resolve issues it inherited when it acquired Credit Suisse last year after […]