finance > banks & institutions > bank general Bank general Citigroup $2.5-billion quarterly loss lower than expected; shares rise 19 July 2008 UBS exits offshore business in US 18 July 2008 Lehman buys 50 per cent in Unitech's Mumbai project for Rs740 crore 17 July 2008 Bahrain-based bank launches investment company in Navi Mumbai 17 July 2008 Tight money not hurting investments, says ICICI's Kamath 14 July 2008 Spain’s Banco Santander buys UK mortgage lender Alliance & Leicester for $2.6 billion 14 July 2008 Another US bank fails: Regulators seize IndyMac Bancorp assets 12 July 2008 Citi may sell stake in HDFC 12 July 2008 GE sells Japanese consumer lending business for $5.4 billion to Shinsei Bank 12 July 2008 Citigroup sells German unit to France's Credit Mutuel for $7.8 billion 11 July 2008 Spare banks of further rate hikes: IBA tells RBI 10 July 2008 US Treasury undersecretary Steel is new Wachovia CEO 10 July 2008 Canara Bank gets China regulatory nod for Shangai branch 09 July 2008 UCO Bank to raise Rs825 crore, targets profit growth of 82 per cent this yearr 09 July 2008 RBI advocates SHG model for lending to SMEs 09 July 2008 SBI raises floating rate on home loans by 0.5 per cent 05 July 2008 Goldman Sachs predicts dire future for European banks, predicts need for more capital 05 July 2008 French regulator fines Société Générale $6.3 million for lax internal controls 05 July 2008 US wins court order for UBS bank records; steps up probe 04 July 2008 RBI tightens reporting norms for UCBs to check money laundering 03 July 2008 European Central Bank raises key rate by 25 basis points to 4.25 per cent 03 July 2008 Fortune 500 lender CIT Group sells off units for $1.8 billion to exit home lending 02 July 2008 RBI, BoJ sign currency swap agreement 01 July 2008 HDFC, ICICI Bank hike lending, deposit rates 30 June 2008 SBI, UBI hike home and auto loan rates; others to follow 30 June 2008 NHB to set up mortgage guarantee corporation, raise Rs11,000 crore from public 28 June 2008 Citigroup to sell BPO, tech arms in India; may write down $9 billion in Q2 27 June 2008 Bank of America-Countrywide merger to cost 7,500 jobs 27 June 2008 Belgian-Dutch Fortis becomes the latest bank to seek fresh capital 26 June 2008 SBI hikes prime lending rate by 50 basis points to 12.75 per cent 26 June 2008 Mortgage lender Countrywide finds itself the target of Illinois and California lawsuits 26 June 2008 Barclays to raise $8.9 billion to boost capital and lend overseas 25 June 2008 Banks expect lending rates to go up by 1 percentage point 25 June 2008 MasterCard agrees to pay American Express $1.8 billion in antitrust settlement 25 June 2008 RBI hikes repo rate to 8.5 per cent; CRR to go up to 8.75 per cent in 2 stages 24 June 2008 Lone Star chief cleared of stock manipulation, may accelerate HSBC purchase of KEB 24 June 2008 SocGen launching NBFC to expand business in India 24 June 2008 Lloyds TSB in talks with Allianz to buy Dresdner Bank 23 June 2008 Japanese bank Sumitomo set to invest 100 billion yen ($930 million) in Barclays 23 June 2008 RBI freezes credit derivatives plan to limit unchecked credit expansion 20 June 2008 Goldman Sachs says worst yet to come for banks, but sees turnaround in 2009 18 June 2008 SocGen private banking arm buys 37 per cent in Rockefeller Financial Services 17 June 2008 Barclays confirms possible sale of new equity, stock jumps in London trading 16 June 2008 Deutsche Bank to set up Middle-East's largest R&D facility 16 June 2008 Southeast Asian currencies depreciate against a sliding dollar 14 June 2008 State Bank, HDFC to raise lending rates 12 June 2008 RBI hikes repo rate by 25 bps to 8 per cent 11 June 2008 Punjab National Bank, IL&FS sign MoU for industrial infrastructure projects 11 June 2008 Bernanke signals end of rate cuts, talks tough on inflation causing dollar surge 10 June 2008 NREGA brings new growth prospects for rural banks 10 June 2008 Private banks grabbing market share from public sector banks, says Moody's 09 June 2008 Citigroup shuts down consumer finance operations in Japan 06 June 2008 Anti-money laundering act amended to widen scope 06 June 2008 Asian banks can witstand economic downturn: Fitch 06 June 2008 Bank of America’s $4-billion acquisition of mortgage lender Countrywide cleared 06 June 2008 Northern Rock in mortgage swap deal with Lloyds 05 June 2008 US fourth-largest bank Wachovia fires CEO as losses mount; may be takeover target 03 June 2008 SBI leads public sector banks in farm loan waiver 03 June 2008 GE Commercial Finance and Spain’s Banco Santander to swap $1.6 billion of assets 03 June 2008 RBI allows trade in oil bonds up to Rs 1,000 crore per day limit 31 May 2008 HDFC to add 300 ATMs in India, places order with NCR 28 May 2008 Bank of America to exercise portion of China Construction Bank option 28 May 2008 Italy plans to raise $2 billion in 3-year global bonds 27 May 2008 US banks unlikely to fund an MTN merger 27 May 2008 St George Bank board approves Westpac's $19 billion takeover offer 27 May 2008 HSBC pushes for $6.3-billion Korean deal with warning to pull out 27 May 2008 Spain’s Criteria buys 20 per cent stake of Carlos Slim Helu’s bank for $2.4 billion 26 May 2008 SBI hikes interest rates on domestic term deposits 26 May 2008 Doha Bank to set up financial services company in India 26 May 2008 RBI to issue norms for foreign currency exchangeable bonds soon 26 May 2008 SBI employees to go on strike on 6th June, Friday 24 May 2008 RBI asks banks to mark down valuation of special bonds 23 May 2008 Government raises debt relief package to Rs71,680 crore, to cover more farmers 23 May 2008 Venezuela forms development bank with Iran, taps Japanese funds 21 May 2008 SBI rescinds suspension of agri implements loans 21 May 2008 Market-based forex rates can't be used to fight inflation: RBI governor 20 May 2008 Citigroup facing trial in $2 billion Parmalat fraud case 20 May 2008 Royal Bank of Scotland announces four key appointments to strengthen India operations 19 May 2008 SBI puts loans for agri mechanisation on hold 19 May 2008 Morgan Stanley cut 1,500 jobs this week, Layman to follow 17 May 2008 HSBC to acquire 73.21 per cent stake in brokerage IL&FS for Rs1000 crore 17 May 2008 IFC invests $45 million in Standard Chartered Bank initiative for micro-finance sector in Asia and Africa 16 May 2008 SBI to hold majority stake in non-life insurance operations with Australia's IAG 14 May 2008 India to be the 8th largest wealth centre by 2017, says Barclays report 13 May 2008 Australia's Westpac Bank in take-over talks with St George 12 May 2008 Wachovia strips CEO Thompson of chairman's role; appoints Lanty Smith instead 12 May 2008 US bank Sovereign looking to raise $1.5 billion; may lose management control to Santander 10 May 2008 Citigroup to sell off $400 billion of assets over next three years: CEO Vikram Pandit 09 May 2008 US House passes $300 billion housing rescue bill 09 May 2008 Canara HSBC Orienal Bank life insurance JV gets regulatory nod 08 May 2008 HSBC loses data of 159,000 account holders as server goes missing 08 May 2008 Idea Cellular, Tata Communications, Etisalat UAE team up with HSBC India to launch global money transfers 07 May 2008 Target sells 47 per cent in credit card receivables to JPMorgan for $3.6 billion 06 May 2008 Financial innovation, greater transparency can support Asian growth: S&P 06 May 2008 SBI raises FCNR, NRE deposit rates 05 May 2008 ASEAN + 3 to launch $80 billion Asian Monetary Fund 05 May 2008 Basel II positive for debt market development: CRISIL 05 May 2008 SBI to restructure credit card business 03 May 2008 Citi, State Street Sell Joint Venture CitiStreet for $900 million 03 May 2008 UK's Brown bats for free flow of capital 02 May 2008 The continuing travails of Ben Bernanke 01 May 2008 Citigroup stake sale fetches $4.5 billion; exceeds target by 50 per cent 01 May 2008 Mobile banking set to grow 01 May 2008 Wracked by sub-prime crisis, Deutsche Bank posts first quarterly loss in five years 30 April 2008 Citigroup to raise $3 billion in capital through fresh stock sale 30 April 2008 Monetary Policy 2008-09: Between a rock and a hard place 30 April 2008 HSBC gets more time to acquire Lone Star stake in Korea Exchange Bank 29 April 2008 Government announces new schemes for micro, small and medium industries 29 April 2008 RBI sets up working group for launching currency futures 29 April 2008 Defaults in US to accelerate through 2008: S&P 29 April 2008 Deutsche Bank's investment arm RREEF starts India operations, to invest $1 billion 29 April 2008 RBI unlikely to curb liquidity further 28 April 2008 Wachovia to pay $144 million to settle telemarketing fraud allegations 26 April 2008 SBI makes $10 million provision for possible sub prime losses 23 April 2008 Citigroup CEO Vikram Pandit joins other chief executives in saying the end of sub-prime crisis closer than the beginning 23 April 2008 Credit Suisse joins Merrill Lynch and Citigroup in cutting jobs 23 April 2008 Q1 2008 roars like a bear, as downgrades outpace upgrades 23 April 2008 Bank of America’s quarterly profit drops 77 per cent but it still stays in the black 22 April 2008 RBI may toughen monetary stance, says Chidambaram 22 April 2008 Bank of England offers $100 billion debt-swap to ease banks' liquidity 21 April 2008 Bank of England mulls £50-billion bailout for British banks hit by credit crisis 19 April 2008 After Merrill Lynch losses and job cuts, Citi loses $5.11 billion in Q1; to cut 9,000 jobs 18 April 2008 Australia's ANZ to shift 5 per cent jobs from New Zealand to India as business transformation strategy 18 April 2008 RBI raises CRR by 50 basis points to 8 per cent 17 April 2008 Indian financial markets not vulnerable to global developments: Y V Reddy 16 April 2008 Wachovia reports $393 million Q1 loss; plans $7 billion capital infusion 14 April 2008 TVS Group gets its first equity partner; lifts Rs100 crore funds from Goldman Sachs 12 April 2008 G-8 weighs measures to stem market turmoil, reverse US slowdown 11 April 2008 Lehman liquidates three funds after taking a $1 billion hit 10 April 2008 ICICI Bank in tie-up talks with Russia's MBRD for mortgage lending 10 April 2008 IMF predicts close to $1 trillion losses due to US sub-prime mortgage crisis 09 April 2008 Rajan panel suggests more freedom for financial sector 07 April 2008 Goldman Sachs group abandons deal to acquire Myers 05 April 2008 Malaysia's Maybank eyes stake in Pakistan MCB Bank 05 April 2008 Standard & Poor's downgrades Tata Motors credit rating 04 April 2008 Bank of America patents innovative technology for corporate cards 04 April 2008 Loan defaults highest in 15 years, says US bankers’ body 04 April 2008 Citibank aims targeted offering at expatriates 03 April 2008 Sub-prime mortgage crisis: end in sight? 03 April 2008 Credits poised for downgrades reach new record: S&P 02 April 2008 UBS announces fresh $19 billion loss; Deutsche Bank loses additional $3.9 billion 01 April 2008 RBI revises risk management norms to banks 28 March 2008 Citigroup agrees to settle Enron claims for $1.6 billion 26 March 2008 SBI gets nod to start retail operations in Singapore 26 March 2008 Singapore's DBS gets RBI permission to expand in India 25 March 2008 Citibank's sub-prime losses beat combined losses of Indian banking sector 25 March 2008 JPMorgan may raise Bear Stearns bid to $10 a share: report 24 March 2008 Citigroup to retrench 2,000 investment bankers and traders 20 March 2008 Political wrangling leaves Bank of Japan headless 20 March 2008 Fed moves hint of moral hazard 20 March 2008 Major shareholders oppose Bear Stearns takeover by JPMorgan Chase 20 March 2008 BNP Paribas abandons bid for Societe Generale 19 March 2008 Fed cuts short-term interest rate by 75 basis points to 2.25 per cent 19 March 2008 After UCO Bank, Allahabad Bank cuts home loan rates 18 March 2008 SBI, Citigroup, JPMorgan to provide $3 billion for Tata Motors' Jaguar-Land Rover acquisition 18 March 2008 Fed cuts key lending rate to 3.25 per cent 17 March 2008 DBS awaits RBI approval for expanding India operations 17 March 2008 CII organizes Latin American and Caribbean investment seminar 15 March 2008 Finance Minister puts numbers to his Rs60,000 crore loan waiver plan 15 March 2008 US developments may affect policy decisions: RBI governor 15 March 2008 US Fed bails out Bear Sterns through JPMorgan Chase 15 March 2008 US regulators propose tough new rules for mortgage market 14 March 2008 Sub prime crisis end in sight says S&P; raises write-down estimates to $285 billion 14 March 2008 Blackstone buys Titagarh Wagons stake in pre-IPO placement 13 March 2008 UCO Bank to raise Rs625 crore 13 March 2008 JPMorgan sees a tightening of money market liquidity 11 March 2008 RBI makes ATM services free from April 2009 10 March 2008 Global financial institutions take a $215 billion sub prime hit: Japanese regulator 10 March 2008 HDFC Bank to expand its global presence 10 March 2008 Retail Banks’ spend on Business Intelligence technology expected to reach USD$9bn by 2012 10 March 2008 Western banks face $325 billion capital erosion: JPMorgan 08 March 2008 HDFC seeks nod for lending against farmland in Punjab 08 March 2008 StandChart to sell MF business to IDFC 07 March 2008 Chidambaram leaves rate decision to lenders and RBI; says loan waiver won't hurt banks 06 March 2008 Barclays to buy Russia’s Expobank for $745 million 05 March 2008 HSBC gets antitrust approval for Korea Exchange Bank bid 05 March 2008 Barclays launches its ‘Hello Money’ mobile banking in India 05 March 2008 European Central Bank asks US to stem dollar slide 04 March 2008 HSBC profits up 10 per cent despite $17 billion subprime loss 04 March 2008 Banks may need an extra $143 billion to tide over crisis, says Barclays report 04 March 2008 Rangarajan panel wants bank branches to cover 250 new farmers a year 04 March 2008 Minister's statement on ICICI Bank's $264-million sub prime loss sends markets into jitters 04 March 2008 HDFC Bank to secure shareholder approval on Centurion acquisition at EGM on 27 March 04 March 2008 HSBC may sell 7 French units to Banque Populaires for €2.1 billion 29 February 2008 Loan waiver may not help Vidarbha farmers 29 February 2008 Banks expect a bonanza from farm loan waiver 29 February 2008 Nadars bank on Iyengar to control Tamilnad Mercantile Bank 28 February 2008 Germany's HSH Nordbank to sue UBS over sub prime losses 27 February 2008 Dresdner Bank joins rescue plan for Ambac 26 February 2008 HDFC Bank approves merger share swap ratio of 1: 29 Centurion Bank of Punjab shares 25 February 2008 Boards of Centurion Bank, HDFC Bank to consider merger 22 February 2008 HDFC Bank plans to raise $1 billion for overseas expansion 22 February 2008 Government approves continuation of credit-linked capital subsidy scheme 21 February 2008 HDFC Bank in advanced merger talks with Centurion Bank of Punjab: CNBC-TV18 21 February 2008 HSBC heads the list of world's most valuable banking brands 19 February 2008 UK decides to nationalise ailing bank Northern Rock 18 February 2008 Productive sectors have not been starved of credit: Chidamnbaram 12 February 2008 Arcil sells Rs 3,925 crore NPL portfolio to Deutsche Bank 12 February 2008 HSBC may sell around 350 branches in France: report 12 February 2008 SBI, BoI cut lending rates; IOB likely to review rates 11 February 2008 SBI rights to open on February 18; to raise over Rs16,000 crore 08 February 2008 Barclays Plc contracts US credit cards back office contract to Firstsource Solutions 08 February 2008 Weathering the storm: Sleepwalking through a significant market downturn 07 February 2008 Wachovia accused of being party to telemarketing fraud 07 February 2008 RBI puts UBS licence on hold, appoints finance ministry official on its panel 06 February 2008 Canara Bank, Allahabad bank cut home loan rates 05 February 2008 China's top bank ICBC to take 20 per cent in South Africa's Standard Bank 04 February 2008 Citi's troubles and the future of banking 04 February 2008 Banks join to rescue US bond insurer Ambac 02 February 2008 Royal Bank of Canada enters Indian market; targets high net worth individuals 02 February 2008 ICICI Bank cancels plans for new subsidiary 02 February 2008 Credit Agricole joins race for SocGen stake 01 February 2008 BNP to the rescue as France warns against hostile bids for SocGen 31 January 2008 Deutsche Bank increases stake in China's Harvest Fund Management 31 January 2008 Should you take a car loan from a PSU bank or a private one? 30 January 2008 Should you opt for a fixed-rate or a floating-rate loan? 30 January 2008 Everything you should know about car loans 30 January 2008 BNP provides a Rs570-crore equity boost to its Indian operations 28 January 2008 Fears of recession, may force RBI to cut rate: survey 28 January 2008 Japanese bank Mizuho to tie-up with State Bank of India 25 January 2008 Citigroup plans job cuts in UK, India; awards CEO with $26.7 million shares and 3 million options 25 January 2008 France's Societe Generale takes a $7.1 billion hit; alleges fraud by trader 24 January 2008 ICICI launches global fund in Dubai; ties up with UAE Xchange for travel card 23 January 2008 SBI chief sees an easing of interest rates in India 23 January 2008 Bank of India may offer liquidity support to brokers 23 January 2008 Citi announces exchange ratio for share exchange with Nikko Cordial Corporation 19 January 2008 Financial sector downturn tests bank creditworthiness: S&P 18 January 2008 China hikes cash reserve ratio for banks to 15 per cent 17 January 2008 RBI cautions banks on fake currency 15 January 2008 Citigroup raising $14.5 billion after $18 billion write-down, cuts dividend 15 January 2008 SBI to raise Rs16,736 crore through rights issue 14 January 2008 Citigroup may have to write down $24 billion, cut 20,000 jobs: report 14 January 2008 Indian Bank to expand branch and ATM network 12 January 2008 Stanchart looking for a buyer for Indian mutual fund business 12 January 2008 Citigroup looks to Saudi Prince, China for fresh funding 12 January 2008 Northern Rock sells $4.3 billion of assets to J P Morgan to repay Bank of England 12 January 2008 Citibank India to establish new Japan desk 10 January 2008 UAE's First Gulf, Kotak Mahindra tie up for investments, money transfers 09 January 2008 Increasing loan defaults eroding bank profitability: Crisil 09 January 2008 State Bank in Rs800-crore pre-IPO private placement with Mahindra Holidays 08 January 2008 Retail assets: A case for caution, not alarm says CRISIL 08 January 2008 Fed minutes say credit woes may result in more rate cuts 03 January 2008 Chidambaram expects better bids for IFCI 29 December 2007 Citigroup, HSBC may sell units to stave off a crisis: report 28 December 2007 Fed’s second auction of $20 billion in short-term credit draws fewer banks 24 December 2007 RBI releases draft approach paper on Fair Pricing and Enhanced Access of bank ATMs 24 December 2007 Bank of Baroda to raise Rs2,500 crore via bond issue 22 December 2007 Advantage Partners to buy out Tokyo Star Bank for $2.2 billion 22 December 2007 Go green, back sustainable growth, RBI tells banks 21 December 2007 ABN Amro renewing focus on advisory, wealth management services 21 December 2007 ICRA signs MoU with Corporation Bank for loan rating 20 December 2007 US home foreclosures rose 68 per cent in November 20 December 2007 Short-term credit auction: 93 banks bid to borrow money from the Fed 20 December 2007 IFCI dumps Sterlite offer, calls for bids to sell holding in firms 20 December 2007 ECB pumps in $500 billion to resurrect the money markets 19 December 2007 European Central Bank offers $501 billion in short-term funding to banks 18 December 2007 RBI tightens credit flow to mutual funds, foreign institutional investors 14 December 2007 Citigroup to take $49 billion of SIV assets onto its balance sheet 14 December 2007 ICICI, IL&FS, Kotak take equity in Multi Commodity Exchange (MCX) 14 December 2007 A survival guide for central bankers 13 December 2007 The Fed’s painful dilemmas 12 December 2007 Fed cuts rates by a quarter point; Wall Street disappointed, US markets down 12 December 2007 UBS to write down $10 billion, raise $11.5 billion in stake sale 10 December 2007 Russian bank VTB to open branch in India 10 December 2007 US consumer credit October growth rate smaller than expected 10 December 2007 Tightening monetary policy, increased consumer leverage, appreciating rupee to impact Indian banks: Fitch 06 December 2007 RBI issues draft guidelines for banks' recovery agents 30 November 2007 Government clears State Bank's Rs10,000 crore rights issue 30 November 2007 Fed’s beige book paints US economic outlook a dull shade of red 30 November 2007 Fed still divided on cutting interest rates, despite vice chairman Kohn's positive signals 29 November 2007 Fed to inject $8 billion to ease end-of-year credit squeeze 27 November 2007 ICICI Bank securitises Rs1,930 crore car loans 27 November 2007 Citi to sell $7.5 billion of equity units to Abu Dhabi Investment Authority 27 November 2007 Debt protection costs up for Fannie Mae, Freddie Mac 22 November 2007 Fed minutes show a less optimistic view of the US economy 21 November 2007 Government seeks US approval for SBI, BoB expansion 21 November 2007 Citigroup's subprime losses may vault to $15 billion: Goldman Sachs 19 November 2007 Chinese banks eye Singapore government stake in StanChart 19 November 2007 Centre lists measures to improve farm credit 19 November 2007 China raises cash reserve ratio for banks; to allow faster appreciation of the yuan? 17 November 2007 Finance ministry may solve PSU banks' cash crunch problem 17 November 2007 State Bank of India launches gold coins 17 November 2007 Mutual fund assets reach all-time high in October: CRISIL 17 November 2007 IDBI unveils $1.5-billion medium term note programme 16 November 2007 BoB hikes deposit rates; announces plan to raise Rs2,000 crore 16 November 2007 Bank of America, Citigroup and J P Morgan reach agreement on $75-billion SIV backup fund 15 November 2007 Worsening credit crisis pressures threaten Barclays, HSBC 15 November 2007 Asian banks seek tools to fuel growth sans fraud as credit markets boom: The Asian Banker - Fair Isaac Corp survey 15 November 2007 Bank of Japan keeps rates steady at 0.5 per cent 15 November 2007 Germany's WestLB bank is the latest subprime victim; to make a loss in 2007 15 November 2007 ICRA to rate UCO Bank loans under RBI's new Basel II-compliant capital adequacy framework 15 November 2007 Worsening credit crisis pressures threaten Barclays, HSBC 12 November 2007 Bank of America, Citigroup and J P Morgan reach agreement on $75-billion SIV backup fund 12 November 2007 ICICI Bank fined Rs500,000 for rough recovery methods 06 November 2007