Riga - Troubled Latvian bank Parex got a boost on Thursday when it confirmed it had agreed terms with creditors to pay back around 775 million euros (1 billion dollars) in syndicated loans.
Failure to reach a compromise deal would have seen a group of 60 lenders, including Germany's Commerzbank, demanding immediate payment, effectively forcing Parex out of business.
Zurich - The Swiss bank UBS said Thursday it has made a tender offer worth up to 1 billion euros (1.34 billion dollars) to buy back bonds in an attempt to raise its Tier 1 regulatory capital ratio.
The offer pertains to four lower tier 2 bonds with maturity dates between November 2015 and September 2019 and a notional value of around 7 billion Swiss francs (6.15 billion dollars).
The bank said in a statement that the bonds were currently trading at a significant discount to their original issuance price.
Tier 1 capital ratio is a regulatory measure of a bank's financial stamina.
ICICI Bank is looking for ways to divert its ATM management and points of sale terminals (POS) into a different unit.
Moreover, the country’s largest private lender has also invited bids from private equity funds as well as banking technology companies for stake in this arm.
ICICI Bank has the second-largest ATM network with more than 4,600 Automated Teller Machines (ATM), and the largest PoS network with over two lakh terminals.
Stockholm - Timing is of the essence - a lesson several big Swedish banking groups as well as private and government-run pension funds and corporations have learned in recent days.
And proposing large bonus payments to top management is simply not on amid daily reports of layoffs and financial turmoil.
Yet the proposals have been made - and in some case executed - to the surprise and anger of critics.
Washington - In a conciliatory gesture, some AIG employees have offered to return some of the 165 million dollars in bonuses at the centre of public ire over the government financial bail-out programme, the company's head said Wednesday.
Edward Liddy, appointed by the US government in September to head the floundering American International Group (AIG), revealed the gesture in testimony before a House Financial Affairs subcommittee.
Washington - Disgraced financier Bernard Madoff's accountant was on Wednesday arrested and charged with securities fraud, the Justice Department said.
David G Friehling, 49, surrendered to authorities Wednesday morning and is the first accused accomplice of Madoff to be arrested since the 50-billion-dollar scandal came to light three months back.
An accountant for Bernard L Madoff Investment Securities LLC, Friehling faces a maximum 105 years in prison.
Riga - Troubled Latvian bank Parex got a boost on Thursday when it confirmed it had agreed terms with creditors to pay back around 775 million euros (1 billion dollars) in syndicated loans.
Zurich - The Swiss bank UBS said Thursday it has made a tender offer worth up to 1 billion euros (1.34 billion dollars) to buy back bonds in an attempt to raise its Tier 1 regulatory capital ratio.
ICICI Bank is looking for ways to divert its ATM management and points of sale terminals (POS) into a different unit.
Stockholm - Timing is of the essence - a lesson several big Swedish banking groups as well as private and government-run pension funds and corporations have learned in recent days.
Washington - In a conciliatory gesture, some AIG employees have offered to return some of the 165 million dollars in bonuses at the centre of public ire over the government financial bail-out programme, the company's head said Wednesday.
Washington - Disgraced financier Bernard Madoff's accountant was on Wednesday arrested and charged with securities fraud, the Justice Department said.
