Sterling Bancorp was purchased by Provident New York Bancorp for US$344 million. Provident New York Bancorp has announced its purchase of Sterling Bancorp through a stock deal amounting to US$344 million.
Investment banks
Research Shows Faked Loans In China's Big Banks
China's big banks are not providing more credit to small and microsized firms. According to a researcher, the big banks of China are not lending more to the smallest firms.
Finland Banks on Venture Capital Financing for Growth
The government is seeking venture capital financing for growth without affecting its bottom line. Finland is maximizing venture capital financing as a means to spark the economy out of the doldrums without affecting its current AAA ratings.
LCI Holdco Asset Sale Upheld
The bankruptcy court upheld the sale of assets of LCI Holdco LLC despite IRS opposition. The federal court with jurisdiction over the bankruptcy case of LCI Holdco LLC has approved the sale of the assets of the company to Hospital Acquisition LLC.
UBS was backer for CP Group Purchase of stake in Ping An
Unbeknownst to many, UBS was the financial backer of CP Group in its purchase of a stake in Ping An Insurance of China.
Latest News
JinkoSolar obtains a RMB360 million loan facility from China Development Bank. The leading private venture solar power products manufacturer, JinkoSolar Holding Co Ltd announced the signing of a RMB360 million or US$58 million loan agreement with China Development Bank.
Allianze, through its CIO criticized the handling of block sales of firms resulting in retained shareholdings by the bank.
According to President and COO Gary Cohn, Brazil is the new frontier for growth for Goldman Sachs. In a bid to increase its base of corporate clients in Brazil and neighboring countries, Goldman Sachs President and COO Gary Cohn said that it would respond to increased demand for corporate loans, advisory services and structure financing in the country.
Unicredit has announced the implementation of a buy-back scheme for outstanding bonds. Italy's largest bank in terms of assets had announced it would be buying back senior bonds.
Belgian firm Alfacam is now in rough waters financially after its credit line was cut off for breach of covenants.
Telefonica Deutschland would be selling off Euro denominated bonds. The German subsidiary of Spain's largest phone company, Telefonica Deutschland Holding AG is now preparing to offer for sale of Euro denominated bonds as early as this month.
ICBC would be the first Chinese bank to invest in a Taiwanese Bank, SinoPac. SinoPac Financial Holdings Co. Ltd of Taiwan would be selling off a 20% share of its banking unit.
The transfer of funds exempted Laiki Bank UK from Cyprus Bailout. The United Kingdom branch of the Laiki Bank has evaded the so-called 'haircut' of depositors in the beleaguered Cypriot bank.
A US$50 million sukuk bond issue would be undertaken by the Sharjah Islamic Bank. The lending institution partly owned by the UAE emirate of Sharjah, the Sharjah Islamic Bank is now in the process of preparing for a dollar denominated Islamic bond or sukuk.
