Commerzbank posted a profit for the fourth quarter of 2015, helped by lower provisions for bad debts. The bank expects to report a mild increase in 2016 net profit.
As the onslaught of the stock market tumult continues to wreak havoc on some of Britain's banks, Lloyds and Royal Bank of Scotland lost almost £3 billion from their value.
Worldpay, a payment processing company, is set to hire six banks to propel the company's £6 billion ($9.22 billion) stock market listing. The £6 billion ($9.22 billion) valuation could make it the largest initial public offering (IPO) in the UK this year.
Malaysia's proposed $20 billion merger to create the world's biggest Islamic bank is likely to be scrapped after CIMB Holdings and RHB Capital failed to agree on new deal terms, people familiar with the matter told Reuters.
The biggest U.S. bank listing since the financial crisis got a lukewarm reception from investors, forcing Royal Bank of Scotland RBS.L to cut the price of shares sold in Citizens Financial Group CFG.N.
State-backed Royal Bank of Scotland (RBS.L) plans to raise up to $4 billion from the share flotation of its U.S. bank Citizens Financial Group this month, putting it on track to be the biggest U.S. share offering by a bank this year.
Citizens Financial Group, a unit of the Royal Bank of Scotland, said it had agreed to exit its Chicago area retail branches and small business operations to US Bancorp.
A Financial Times report said investment banks worldwide are set to reduce employee remuneration for the third year even as profits have increased, highlighting the importance placed on shareholder returns than on the pay of employees.
The following bids, mergers, acquisitions and disposals were reported on Wednesday including Sinopec, Apache, AMR, US Airways, Deutsche Bank, EDF, Oxford, Andor, Bank Zachodni WBK, Shuanghui, Campofrio, OCZ, Toshiba and CVS Caremark.
Royal Bank of Scotland said it sold its remaining stake of about 20 percent in WorldPay to the payment processing firm's majority shareholders, private equity firms Advent International and Bain Capital.
In its efforts to restructure the company, Bank of Cyprus hired former deputy chief executive Euan Hamilton from the Royal Bank of Scotland as a consultant. Bank of Cyprus's efforts to turn the state of the company around has been hindered by political infighting as well as heavy criticism over its lack of transparency.
The following bids, mergers, acquisitions and disposals were reported on Monday including Forbes, Axel Springer, MidCap Financial LLC, Goldman Sachs and others.
British government-owned The Royal Bank of Scotland said it was looking to sell its retail investor and equity derivatives business. French bank BNP Paribas was identified as a front-runner to acquire the business unit.
England-based Thomas Cook's chief executive Harriet Green announced the sale of its foreign exchange unit to Moneycorp, a rival backed by the Royal Bank of Scotland.
Royal Bank of Scotland revealed its company strategies on Friday to return over GBP45 billion it received from the British government as bailout money.
Subscribe to VCpost newsletter
- Donald Trump Warns About the Biggest Stock Market Crash in US History if He Loses to Joe Biden and Investors Just Laugh
- Joe Biden Lambasted Online for Bragging Supreme Court 'Didn't Stop' Him From Canceling Student Loan Debt
- Willy Wonka-Inspired Event in Glasgow Ends With Visitors Calling Police as They Believe They Got Scammed
- North Korea Continues to Secretly Send Vast Amounts of Artillery Shells to Russia for War, South Korea Says
- Hunter Biden Exposes Republicans' Indifference, Double Standard on Jared Kushner’s Foreign Business Dealings
- Donald Trump, Unable to Pay Full $454 Million Bond Amount, Offers to Post $100 Million in Civil Fraud Case But Appellate Judge Denies It
- Melania Trump Spends Time in White House Negotiating Prenup With Former President Donald Trump
- U.S. And China Relations In Danger After Threat of Espionage and Economic Challenges