New job cuts in the offing for JP Morgan Chase. JP Morgan Chase has announced that it would be undertaking another round of layoffs, numbering between 3,000 to 4,000 employees in its consumer bank operations by 2013.
Commercial banks
Lloyd's To Take Another Hit
Lloyds Bank to pay for past misdeeds. Britain's largest retail bank, Lloyds is set to announce an increase in money for compensation to pay customers and clients for losses sustained on mis-sold loan insurance.
Bids Filed for Catalunya Banc
Three major banks interested in purchasing Catalunya Banc Three Spanish banks have placed bids on Spanish lending giant Catalunya Banc. The nationalized lender is being sold and the non-binding bids were submitted by Santander, Sabadell and Popular.
Goldman Sachs Expands to Chile
Goldman to sell debt in Chilean local market. The fifth largest US bank by assets, Goldman Sachs Group Inc, is planning to expand into the Chilean market with the sale of fifty year bonds in the local market.
Lloyds Deal Face Threat
Lloyds deal to sell branches may not push through due to capital deficit with Co-op. The deal that would allow Co-operative Bank to purchase more than 600 branches of the Lloyds Banking Group is under grave threat not to push through.
Latest News
Barclays to issue convertible bonds for more capital. Barclays, in a move to address possible concerns, is formulating a plan to seek shareholder approval to sell bonds that are convertible to shares should the bank hit troubled waters.
Barclays increases stake in Absa. Absa Group's minority shareholders openly supported a plan to purchase the African operations of Barclays Plc. The purchase would amount to US$2.
RBS is expected make sale of a portion of stake in Citizens Financial Group The Royal Bank of Scotland is set to announce its plan to sell a stake portion in Citizens Financial Group Inc.
RBS to sell its stake in Citizens Financial through an IPO In a news report from the Telegraph, the Royal Bank of Scotland is to announce its plans to sell a portion of its interests in US retail banker Citizens Financial Group Inc.
Banks are now cleaning the vestiges of the 2008 market crash by dumping CDS instruments. In a house-cleaning move, several major banking institutions are trying to rid itself of the credit portfolios that had been the major cause of the 2008 global financial crisis.
