Investment banks
Saudi Electric Chooses Banks for Sukuk
Saudi Electric would float new sukuk bonds through two banks. The Gulf region's largest utility company, Saudi Electricity Co has chosen two banks to schedule meetings with fixed income investors from Europe and North America for possible debt agreements.
UniCredit to announce sale of ATF Bank
Italian bank UniCredit to sell off Kazakh bank ATF. Italy's largest bank by assets, UniCredit is on the verge of announcing the sale of ATF Bank. ATF Bank is its Kazakhstan unit and the sale was confirmed by three sources who spoke on condition of anonymity.
UBS Has No Plans To Sell
Rumors of the sale of UBS wealth management subsidiary quashed by CEO remarks. This was the statement from Chief Executive Officer Sergio Ermotti when asked if UBS was planning to sell its wealth management arm.
Phuong Tay Bank Merges with Petrovietnam Finance
Phuong Tay merges with PVFC as ordered by the Vietnamese Central Bank. In compliance with the Vietnamese central bank's goals to restructure lending institutions saddled with debt, Phuong Tay Bank is planning to merge with Petrovietnam Finance Corp.