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

HSBC secures $1bn Russian bank deal

Promsvyazbank, one of the largest commercial and retail banks in Russia, plans to raise $1bn (€689m) in an initial public offering in the second or third quarter of next year.

UK bank HSBC has been selected as lead coordinator and bookrunner. A source close to the company said it also agreed to fund a pre-IPO capital increase to secure its lead role. Other banks vying for bookrunning positions include Deutsche Bank, Dresdner Kleinwort, ABN Amro and Troika.

Commerzbank owns a 15.3 percent stake in Promsvyazbank, which it acquired last August. HSBC's biggest deal in Russia should have been managing the $200m (€138m) initial public offering of ROSBANK last year with Credit Suisse, Deutsche Bank, and Merrill Lynch. However, ROSBANK's parent Interros pulled the issue 12 hours before its launch, instead selling 10 percent to Société Générale, without telling its advisers.

In May HSBC received a license for its Russian subsidiary, HSBC Bank, allowing it to take retail clients' deposits. HSBC is developing its corporate and investment banking business in Russia and has opened an office there, although it does not have as large a presence as rivals. But with an aggressive price war driving down investment banking fees in Russia, HSBC has the benefit of a lower cost base.

Source: Financial News Online
Date: 09.11.2007 [139]

Financial and Banking News
 Banks may need political help to survive Big Tech

First there was the financial crisis of 2008. Then years of negative interest rates. Now, banks face what one financial regulator calls the "real game changer." 09.12.2019 | Source: Bloomberg

 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

 📰 News Archive

2007-2020 © BanksDaily.com | Rus