SYDNEY – Bendigo and Adelaide Bank (BEN.AX) announced an agreement to acquire the retail lending assets and deposits of RACQ Bank, a move aimed at boosting its geographic diversity and shareholder returns. The deal, subject to regulatory approval, involves the transfer of about A$2.7 billion ($1.8 billion) in retail loans and A$2.5 billion in retail deposits…
AMSTERDAM – Today, ABN AMRO Bank N.V. announces that it has reached agreement with Blackstone to acquire NIBC Bank. With the acquisition, ABN AMRO will add further scale to its retail banking activities, reinforcing its strong position in the Dutch market. Established in 1945, NIBC is a well-managed largely Dutch focused entrepreneurial bank specialised in…
LONDON: Lloyds Banking Group plc announced increased profits and a higher dividend for the first half of 2025 on Thursday, citing income growth, cost discipline, and robust asset quality. The UK-focused bank reported a statutory profit after tax of £2.5 billion for the six months ending June 30, 2025, up 4% from £2.4 billion in…
LONDON: Axis Bank Ltd. on Thursday reported an 18% year-over-year decline in its consolidated net profit for the fiscal first quarter, as increased provisions offset gains from robust income growth. The private-sector lender posted a net profit of ₹6,243.7 crore ($748 million) for the quarter ended June 30, down from ₹7,475.1 crore a year earlier….
LONDON: In order to continue to develop the mortgage business and customer offering, Swedbank acquires the mortgage credit institution Stabelo. Through access to a complementary brand, new technology and new channels for mortgages, the acquisition will help Swedbank reach more customers in the mortgage market. Stabelo is an established actor in the mortgage market that…
Generative AI is a game-changing technology that can create new content, data, and insights from existing information. It can help retail banks improve their efficiency, customer experience, and innovation. However, most banks are not ready to embrace and scale generative AI across their operations. This is the key finding of the World Retail Banking Report…