All posts by banking

Break up JPMorgan Chase, says Goldman

Reported by | Updated: January 6, 2014

Goldman Sachs says JPMorgan Chase Bank would be worth 25% more if it were split into different units. Goldman wants a complete breakup of the US bank saying the boost in returns from a split would far outweigh the synergies that JPMorgan claims it gets from its current size. In a report, Goldman said JPMorgan […]

CCI rejects plea by NDFC against 12 banks

Reported by | Updated: January 6, 2014

The Competition Commission of India (CCI) has rejected charges raised by Muthoot Mercantile against 12 banks of cartelisation in the agri-gold loan business. The company had alleged that the banks had followed anti-competitive practices by giving the same interest rate in the agri-gold loan business. The banks include State Bank of India, Canara Bank, Indian […]

Investec eyes Coutts

Reported by | Updated: January 5, 2014

The Anglo-South African financial services group Investec has joined several international banks eyeing bids for the international arm of Coutts, the wealth management unit of RBS. At least half a dozen parties have expressed interest in buying Coutts International, which has been put up for sale by RBS. Coutts International is expected to change hands […]

Krishnakumar Goyal reelected chairman of Cosmos Bank

Reported by | Updated: January 5, 2014

Krishnakumar Goyal has been elected as the chairman and Madhukar Atre vice-chairman of Cosmos Bank. Both of them were elected unanimously. In the recently held elections in Cosmos Bank for the board of directors for the years 2015-2020 all the 13 candidates of Sahakar Panel won with landslide majority. The elections for the post of […]

Muthoot Finance acquires stake in Sri Lanka company

Reported by | Updated: January 5, 2014

Kerala-based Muthoot Finance has acquired 51% stake in Sri Lanka’s Asia Asset Finance, which is a deposit taking non-banking financial company in the country, regulated by Central Bank of Sri Lanka. George Alexander Muthoot, MD, Muthoot Finance, said Muthoot Finance took the initiative to invest in the company because Asia Asset Finance wanted to do […]

Shyamala Gopinath is chairperson, HDFC Bank

Reported by | Updated: January 5, 2014

Former deputy governor of RBI Shyamala Gopinath has been appointed as non-executive chairperson of HDFC Bank.The appointment is for a three-year term and it has been approved by shareholders through a postal ballot, the bank said. The RBI has also approved her appointment with effect from the date she assumes charge as chairperson, the bank […]

No merger for time being, says Andhra Bank CMD

Reported by | Updated: January 5, 2014

There is no question of merger of Andhra Bank with any other bank for the time being, said the bank’s CMD C.V.R. Rajendran. There were media reports that the government is considering merger of some smaller public sector banks with large one, and one of them is Andhra Bank. It was also reported that the […]

BoM opens new gen branch

Reported by | Updated: January 5, 2014

Bank of Maharashtra has opened a renovated and modernized branch called ‘Utkarsha Branch’ in Pune. R.K.Gupta, ED of the bank, inaugurated the branch. He said the branch is well equipped with state of the art technology, specially designed lounges for HNIs and Klik 2 Bank e-lounges with ATMs, cash deposit machines, pass book printing machines […]

Strive to be among top 10 in the world, Modi tells banks

Reported by | Updated: January 5, 2014

Prime Minister Narendra Modi said Indian banks should strive to be among the top 10 banks in the world. Spaking at the ‘Gyan Sangam’, the first conclave of public sector bank CEOs, Modi said banks in fact reflect the health of a country’s economy and cited Japan and China whose banks are ranked among the […]

Citi, GE among firms settling Fannie Mae, Freddie Mac suits

Reported by | Updated: January 3, 2014

Citigroup paid $250 million to taxpayer-owned Fannie Mae and Freddie Mac to settle a lawsuit over soured mortgage securities. General Electric Co also paid $6.25 million to settle a similar suit, the Federal Housing Finance Agency said in a press release. Both Citi and GE previously settled the claims in 2013, but neither had disclosed […]

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