According to sources, Bank Al Khair is expected to merge with commercial bank, Khaleeji Commercial Bank.
Tags: Bank
Ex IMF chief joins the board of Rosneft-owned bank
Dominique Strauss-Kahn joins the Russian Regional Development Bank, a Rosneft-owned bank. Dominique Strauss-Kahn joined the supervisory slate of a bank owned by Rosneft, a Russian state oil major.
Austria’s second biggest lender announces ‘massive’ cost-cutting plan
Raiffeisen Bank International explores cost-cutting measures to raise Eur 1.8 billion. Austria's Raiffeisen Bank International (RBI) is about to bite the bullet as it launches a cost-cutting program to raise Eur 1.
Gazprombank rather wait, postpones negotiations on Swiss Franc Tier 2 Bond Deal
Russia's Gazprombank has withdrawn from the Swiss franc Tier 2 Bond deal, source revealed. (Photo : maximzimin. com)Gazprombank pulls out of deal allegedly While the third largest bank belonging to the Russian Federation, Gazprombank, has yet to give an official statement on this move, the source confirmed that the bank preferred to wait for better market conditions before continuing on with the Swiss Franc Tier 2 deal.
Investment banks accused of conspiracy
The European Union accused 13 investment banks for conniving against rivals in the credit derivatives industry.
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S-Pankki Oy acquires Tapiola Bank Oy, expanding its mortgage and insurance products for its customers.
Coty, the fragrance and nail polish maker, is preparing for an IPO. Nearly US$700 million is expected to be raised for the initial public offer of Coty.
Austria is now in the midst of forging an agreement to provide other EU countries data swaps to crack down on tax evaders.
Affin Holdings squelched rumors as to the supposed takeover bid by AMMB Holdings. Affin Holdings Bhd has squashed speculations that it is discussions with AMMB Holdings Bhd regarding AMMB's acquisition of the company.
HSBC is reviewing presence in Iraq and expanding in Egypt. HSBC Holdings is currently undertaking its strategic review of operations in Iraq. At the same time, it is continuing to expand its investments in Egypt despite the current situation in the country.
Lloyds Bank has engaged the services of Deutsche Bank to provide services for the possible sale of Scottish Widows.
Concerns about money laundering and violations of the Bank Secrecy Act hold back M&T Bank's purchase of Hudson City Bancorp Inc.
China's big banks are not providing more credit to small and microsized firms. According to a researcher, the big banks of China are not lending more to the smallest firms.
VTB completes purchase of Tele2 Russia despite competitors crying foul. Tele2 announced Thursday that the acquisition by VTB of Tele2 has been completed.
