Public-sector lender Punjab National Bank said it will complete acquisition of Kazakhstan-based Dana bank this fiscal for a consideration of 18-20 million dollars.
SBI expects to receive the Reserve Bank's and Doha government's approval to set up a branch there by the first week of December, a top SBI official said.
As a first initiative of its kind in India, a World Bank entity will provide credit facility of up to USD 51 million to Kotak Mahindra Bank to help small and medium enterprises, hit hard by the global financial crisis, meet their export and import obligations.
Citigroup is in informal talks with Blackstone Group and other private equity firms for selling its auto-loan business unit CitiFinancial Auto, a media report has said.
After some of its branches were interrogated by the income-tax department for their involvement in the Madhu Koda money-laundering case, state-owned Union Bank has started auditing the accounts of the branches which had shown high transactions.
Swiss banking major UBS said it aims to achieve the target of about 15 billion Swiss francs pre-tax profits per year over the next three to five years.
Financial officials in Japan and China, Asia’s two largest economies, warned the Federal Reserve’s interest-rate policy risks spurring speculative capital that may inflate asset prices and derail the global economic recovery.
To lend transparency, the Reserve Bank directed banks to disclose the commission it received from mutual funds and insurers for referring their products to customers.