Under the leadership of CEO Jane Fraser, Citigroup is scrapping its global consumer banking division and reducing its sprawling retail banking footprint. The bank will focus on the lucrative wealth ... ( read original story ...)
Citi to sell Southeast Asia retail business in $5 billion deal to Singapore’s UOB
SINGAPORE - Citigroup has agreed to sell its consumer business in four Southeast Asian markets to United Overseas Bank (UOB) for about S$5 billion, bringing the US bank closer to its goal of exiting ... ( read original story ...)
DBS maintains ‘hold’ on SGX due to no immediate catalyst
This is despite the good contributions SGX saw from all business segments over the past two years, including FICC ... ( read original story ...)
Green finance is red-hot
GREEN financing is not exactly a new buzzword, but it is only now that it is gaining momentum both here and regionally. Put simply, green financing is any financing activity which takes into account ... ( read original story ...)
Singapore introduces IP Amendment Bill to streamline processes and improve legislative clarity
WTR talks with a local expert on what the implications are for brand owners and any potential roadblocks to implementation. ( read original story ...)
HSBC investment bank co-head takes 6 months break
An HSBC bank logo is pictured during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., October 19, 2020. REUTERS/Carlo Allegri ... ( read original story ...)
OCBC S’pore scam victims, many who lost life savings, slam bank for underwhelming response
Among other grievances, victims were angered by OCBC’s perceived nonchalance and ineptitude when they approached the bank for help. ( read original story ...)
Adani Wilmar cuts IPO size to Rs 3,600 cr
Out of the IPO proceeds, Rs 1,900 crore will be used for capital expenditure, Rs 1,100 crore will be used for the repayment of debt and Rs 500 crore in funding strategic acquisitions and investments. ( read original story ...)
Adani Wilmar Ltd Slashes IPO Size To Rs 3,600 Crore From Rs 4,500 Crore
The company, which sells cooking oils under the Fortune brand, is expected to float its initial public offering (IPO) this month, they added. AWL is a 50:50 joint venture company between ... ( read original story ...)
UOB to ‘kill 4 birds with 1 stone’ by acquiring Citibank’s operations in the region for S$5b
SINGAPORE — United Overseas Bank (UOB) will be acquiring the consumer business of Citibank in four countries for around S$5 billion, in a move that would propel its status to a leading retail bank and ... ( read original story ...)
Man jailed for conspiring to extort from colleague who had a ‘weakness for women’
SINGAPORE: Knowing that their colleague had just received a large insurance payout and had a "weakness for women", two men decided to play a prank on him by posing as a woman. However, this soon ... ( read original story ...)
Best House for ESG/SRI Financing: HSBC
At a time when almost every bank is brandishing its ESG credentials in some way, HSBC has doubled down on its ESG work, making it GlobalCapital Asia’s pick for Best House for ESG/SRI Financing in 2021 ... ( read original story ...)
Best G3 Bond House: HSBC
In 2021, when the world stepped into the second year of pandemic and credit markets started witnessing more volatility and stress, one bank stood out from the pack — HSBC. ( read original story ...)
UOB to ‘kill four birds with one stone’ by acquiring Citibank’s operations in the region for S$5b
United Overseas Bank (UOB) will be acquiring the consumer business of Citibank in four countries for around S$5 billion, in a move that would propel its status to a leading retail bank and card issuer ... ( read original story ...)
With 10% share price growth over two weeks, OCBC ‘positive’ on UOB’s acquisition of Citi assets
Post-acquisition, the bank expects an immediate $1 billion in incremental annual income uplift and asset growth through the expanded franchise,” writes OCBC Investment Resear ... ( read original story ...)
Citi to sell 4 Southeast Asia retail units to Singapore’s UOB for $3.65 bln
Citigroup has agreed to sell its consumer business in four Southeast Asian markets to United Overseas Bank (UOB) for S$4.915 billion ($3.65 billion), bringing the U.S. bank closer to its goal of ... ( read original story ...)