S&P Global MarketIntelligence offers our top picks of banking news stories and more publishedthroughout the week. Please note that some entries may have links tothird-party sources that may require a subscription.
M&A talk heats up
*The South Koreangovernment is seekingto close the sale of a 30% stake in Woori Bank by Nov. 28. The government preliminary bids from 18 firms.
*ING Groep NVslashed its stake inKotak Mahindra BankLtd. to 3.9% from 6.4%, raising gross proceeds of about €490million.
*U.K.-headquartered private equity firm Permira is reportedly 's shareregistry unit Tricor Holdings for between US$750 million and US$800 million.
*State Bank of Bikaner &Jaipur, State Bank ofMysore and State Bankof Travancore approved their proposed merger with .
*Thailand's Bank of AyudhyaPCL closed the acquisition of Cambodian microfinanceinstitution Hattha Kaksekar Ltd.
*Japan's Financial Services Agency approved Ashikaga Holdings Co. Ltd.'s acquisition of
* equity stakes in fintechstartups to utilize the latest technology in its operations.
* Bendigo& Adelaide Bank Ltd. agreed to buy about A$1.35 billion of standardresidential home loans from Keystart Housing Scheme Trust.
Cyberattacks and more
*SWIFT CEO Gottfried Leibbrandt said the financial messaging system washacked several timesover the summer. The CEO noted that two banks had their security breached byhackers, while a third saw off a similar attack.
*Leibbrandt's comments came after First Financial Holding Co. Ltd. units and fought off an attackfrom unidentified hackers on Sept. 22.
*The banking industry lags other sectors in the fight against hackers, aslenders are too fiercely secretive to share crucial information about breaches,according to experts.
* Insomewhat related news, a former Rizal Commercial Banking Corp. branch manager an offer of immunityfrom U.S. prosecution in the Bangladesh Bank cyberheist case.
Monetary policy, regulatorydevelopments
*The Central Bank of theRepublic of China (Taiwan), the Central Bank of Sri Lanka and the State Bank ofPakistan decided tokeep their respectivepolicy rates unchanged.
*The government of India proposed a mechanism to handle bankruptcy in banks, insurersand other financial companies.
*The State Bank of Vietnam proposed to bar foreigners from opening savings accountsin local currency. The central bank also instructed intermediary payment service providers toadhere to regulations to enhance safety and security in payment intermediation.
*Malaysia's central bankis working on anumber of initiatives to strengthen the domestic financial sector, includingconsumer credit legislation.
*The China BankingRegulatory Commission ordered commercial banks in Shanghai to stop cooperatingwith rule-breaking mortgage brokers.
Foreign firms cut Asia-Pacificpresence, jobs
*Citigroup Inc.may shutter aboutfive branches in India as customers turn to digital channels to conduct bankingtransactions.
*Deutsche Bank AGwill shutter itsAustralian private banking arm to streamline operations.
*Bank of America Corp.will slash about 24investment banking jobs in Asia starting in the week of Sept. 26.
*Goldman Sachs GroupInc. plans tocut investment banking jobs in Asia, excluding Japan.
*Deutsche Börse AG'splan to set up a joint venture with the China Foreign Exchange Trade System waspushed back as theGerman firm turns its focus on its planned merger with London Stock ExchangeGroup Plc.
* Onthe contrary, Canada's FairfaxFinancial Holdings Ltd. is seeking to US$500 million to fund potentialdeals in India, including a stake in Catholic Syrian Bank Ltd.
In other news
*Mega International CommercialBank Co. Ltd.'s overseas branches are facing greater scrutiny from overseas regulators afterits New York branch was fined for violating U.S. anti-money laundering rules.
* raised A$1.62 billion of Additional Tier 1 capital in anote offering.
*S&P Global Ratings raised the outlook on Agricultural Bank of China Ltd.'s long-term issuercredit rating to stable from negative.
*Community CPS AustraliaLtd., which trades as Beyond Bank Australia, agreed to an equity stake worthA$1.5 million in peer-to-peer lender SocietyOne.
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