Global Banking Directory
Press Release Distribution Service
Add Bank | Banking Forum | Scam emails!
Advertise Your Business Here
BanksDaily Twitter BanksDaily FaceBook BanksDaily LinkedIn

Financial and Banking News

Commerzbank AG to get fresh rescue cash

Commerzbank AG will get €10 billion in fresh capital from a German government rescue fund, a deal that will give the government a 25 percent stake.

The Frankfurt-based bank, Germany's second-biggest, said the new injection would increase its core capital ratio to 10 percent. But Commerzbank shares closed down 13.8 percent at euro5.25 in Frankfurt after the announcement.

"We are weatherproofing our bank for an economically stormy environment," Commerzbank CEO Martin Blessing said in a statement. "This will enable us to fulfill our responsibility to offer loans to the German economy and to ensure we will continue to be a reliable partner for our clients."

Commerzbank already had received €8.2 billion from the government's fund, which was put together last fall and is worth as much as €500 billion.

The new injection will leave the government with a holding of 25 percent plus one share, and thus with a blocking minority that would allow it to veto major decisions.

The move comes as Commerzbank moves forward with plans to acquire Dresdner Bank AG from insurer Allianz SE. Commerzbank said that, under Thursday's deal, Allianz is to boost Dresdner Bank's capital by euro1.45 billion once the transaction is complete by taking over collateralized debt obligations from the bank.

Finance Ministry spokesman Torsten Albig said Thursday's deal was "a strong signal for a strong Commerzbank." He said in a statement that it showed the government is taking "responsibility for one of the large German players on the financial market."

Source: The Associated Press
Date: 09.01.2009 [211]

Financial and Banking News
 Trump blasts Bitcoin, Libra, demands they face banking regulations

U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank." 11.07.2019 | Source: Reuters

 25th World Islamic Banking Conference announces 4th series of WIBC Leaderboard

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. 28.10.2018 | Source: MEGA

 Financial technologies are need of the hour for Banks in India

The Indian FinTech space is expected to reach $2.4 billion by 2020 and 2018 will be a critical year in that journey because 52 % of India's digitally active consumers are adopting FinTech and are the driving force for new technology adoptions. 02.03.2018 | Source: Explore Exhibitions and Conference

 International Banking Exhibition and Conference will be held in Baku

"Digital Banking and Security" titled International Banking Exhibition & Conference will be held in Baku on 17-18 of April, 2018 by FA International Trade Events. 07.02.2018 | Source: FA International Trade Events

 6th Edition BFSI Innovation and Technology Summit 2017

Today Indian economy is considered as one of the fastest growing economies in the world and contributing to its high growth are many critical sectors, amongst which the BFSI sector is unarguably one of the most distinguished sectors of Indian economy. 21.07.2017 | Source: Exito Media Concepts

 📰 News Archive

2019 © Global Bank Directory | Rus