Swiss bank may follow Barclays’ lead over mis-sold mortgage bond allegations
Retail Banking News Updates, May 2nd 2012
This week’s retail banking news include Competition Commission India’s approval of HSBC’s acquisition proposal, Mistubishi UFJ’s hiring plans, and Prudential’s bid for Thanachart Bank.
CCI approves HSBC’s proposal to acquire RBS assets
The Competition Commission of India has approved HSBC’s proposal to acquire retail and commercial assets of Royal Bank of Scotland and the wealth management business of RBS Financial Services in India.
Mitsubishi UFJ to hire 3,000 to boost overseas retail banking
Japan’s Mitsubishi UFJ Financial Group plans to hire 3,000 people abroad over the next three years to expand its overseas retail banking business. The bank aims to generate 40% of its profits from overseas within the period, from the current 28%.
Prudential UK eyes Thai bank’s insurance business
Prudential is considering bidding for the insurance business of Thailand’s Thanachart Bank in a reported $500 million deal. Thanachart Bank, which will be auctioned, is expected to include life and non-life assets as well as bancassurance arrangement.
Re-disseminated by The Asian Banker
Keywords: HSBC, Mitsubishi UFJ, Thanachart Bank
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