All articles by Refna Tharayil
Refna Tharayil
Westpac reports steady net profit of $1.2bn in Q3 2024
The net interest margin of the Australian banking and financial services company for the reported quarter was 1.92%, compared to 2.06% in Q3 2023
Morrow Bank acquires Lunar Bank´s Swedish consumer loan portfolio
This transaction is in line with the Morrow Bank´s communicated strategy to pursue structural opportunities to drive growth and accelerate value creation
Swiss lender UBS reports 96% drop in Q2 2024 net profit to $1.14bn
The sharp drop is mainly attributed to the absence of the substantial negative goodwill gain from the Credit Suisse acquisition that boosted last year’s results
SB Financial Group and Marblehead Bancorp announce agreement to merge
The merger agreement was unanimously approved by the Boards of Directors of both bank holding companies and their subsidiary banks
SBI plans to divest $2.2bn worth of shares in Yes Bank by end-March 2025
Japanese financial services institution Sumitomo Mitsui Banking and UAE-based Emirates NBD are reportedly in advanced discussions with SBI to acquire the stake in Yes Bank
Summit Financial adds Meeder Wealth Management
The firm offers differentiated value-add services, including investment management services to high-net-worth and mass affluent clients, retirement plan solutions, and corporate investment solutions
Scotiabank to acquire 14.9% stake in KeyCorp for $2.8bn
KeyCorp offers deposit, lending, cash management, and investment services to individuals and businesses in 15 American states and has $187bn in assets
Santander and Amazon launch new credit card Amazon Visa in Germany
Amazon Visa customers earn 1% rewards on Amazon.de purchases and 0.5% rewards on purchases when paying with their Amazon Visa elsewhere
Generali’s H1 2024 operating result increases 1.6% to €3.72bn
The company’s gross written premiums for the reported period that ended 30 June 2024 was €50.14bn, 20.4% higher compared to €42.24bn in the corresponding six months of the previous year
Pagaya and Castlelake announce forward flow agreement to purchase up to $1bn of consumer loans originated on Pagaya network
This transaction expands and diversifies Pagaya’s funding capacity, and adds a new, highly strategic funding partner to Pagaya’s network of over 120 institutional investors