The Global Banker — Banking Industry News & Intelligence
M&A
India Approved Fairfax’s ₹528.78 Billion Purchase of Majority IDBI Bank Stake
Executive Moves
BNP Paribas hired two managing directors for UK advisory expansion
Latest News
Airtel Money completed London admission as all 2.7 billion shares began trading
Tunisia’s BTS opened TND20 million credit line for date farmers
India Approved Fairfax’s ₹528.78 Billion Purchase of Majority IDBI Bank Stake
BNP Paribas hired two managing directors for UK advisory expansion
Kraken parent Payward agreed to acquire Lithuania’s Saldo Bank in Europe
US regulator found large banks used political factors in account closures
State Street shares fell as cash withdrawals tempered fee growth
Morgan Stanley profit rose as equity trading revenue climbed 41%
Bank of America profit fell as settlement charge offset revenue growth
Absa appointed Eric Muriuki to lead pan-African digital growth ventures
Ghana's CalBank lifted nine-month profit 51% as net interest income strengthened
Bank of England’s Pill questioned pricing for four rate rises
Qivalis won Dutch electronic-money authorisation for planned euro stablecoin launch
ISS urged Monte dei Paschi investors to reject twin bids
Boston Fed's Collins said another rate rise remained likely before year-end
Goldman Sachs' Solomon said no active succession timetable was underway
IMF flagged AI, bond-yield and cyber risks to global finance
Standard Bank agreed OPay investment tied to New York listing
South Korea found hacks at 16 financial firms after data leaks
Bank of Baroda vowed defence against Shetty’s $15 billion lawsuit
Banking News
View All →State Street shares fell as cash withdrawals tempered fee growth
State Street reported third-quarter earnings of $3.69 per share, but $62 billion of cash withdrawals reduced total net flows despite $68 billion of ETF inflows.
Morgan Stanley profit rose as equity trading revenue climbed 41%
Morgan Stanley reported third-quarter net income of $4.91 billion as equity trading revenue rose 41%, while wealth management attracted a record $232 billion of net new assets.
Bank of America profit fell as settlement charge offset revenue growth
Bank of America reported third-quarter profit of $6.9 billion as a $1.2 billion regulatory settlement charge outweighed an 8% rise in net interest income during the period.
Ghana's CalBank lifted nine-month profit 51% as net interest income strengthened
CalBank’s group profit after tax rose 50.6% to GH¢337.2 million over nine months, while net interest income increased 66.3% and impairment support fell sharply year-on-year.
Executive Moves
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BNP Paribas hired two managing directors for UK advisory expansion
BNP Paribas hired Govind Shanbogue from Santander and Sandip Dhillon from UBS as managing directors, expanding its senior UK advisory team to six amid rebounding deal activity.
Absa appointed Eric Muriuki to lead pan-African digital growth ventures
Absa appointed former NCBA executive Eric Muriuki to a newly created pan-African growth and ventures role, with a spokesman confirming his mandate on 14 October.
Goldman Sachs' Solomon said no active succession timetable was underway
Goldman Sachs chief David Solomon said no succession transition or timetable was under way, clarifying speculation about president John Waldron while leaving routine board planning unaddressed.
Absa director Alpheus Mangale resigned from board and three committees
Absa said independent non-executive director Alpheus Mangale resigned on 8 October, leaving its board and three committees after serving as a director since July 2023.
TGB Magazine
Latest issueIssue 08
Q4 2026: Record profits, on a tightrope
The first half paid banks well for volatility, wealth and lending. The rate cycle has now turned, and the second half will test which of those engines keeps running.
In this issue
M&A
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India Approved Fairfax’s ₹528.78 Billion Purchase of Majority IDBI Bank Stake
India approved Fairfax Financial’s ₹528.78 billion purchase of a 60.72% stake in IDBI Bank, advancing a four-year privatisation process subject to regulatory approvals and completion conditions.
Kraken parent Payward agreed to acquire Lithuania’s Saldo Bank in Europe
Kraken parent Payward agreed to buy Saldo Bank’s Finnish holding company for an undisclosed sum, with regulatory approval required and completion expected during 2027 in Europe.
ISS urged Monte dei Paschi investors to reject twin bids
Proxy adviser ISS recommended that Monte dei Paschi shareholders reject proposed bids for Banco BPM and Banca Generali, alongside a related €4 billion special dividend.
Standard Bank agreed OPay investment tied to New York listing
Standard Bank Group signed a subscription agreement to invest in OPay, with closing tied to the fintech’s proposed New York listing and future African digital-banking cooperation subject to approvals.
Fintech
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Airtel Money completed London admission as all 2.7 billion shares began trading
Airtel Money’s full share capital entered unconditional London trading on 14 October, completing admission of 2.7 billion shares after conditional dealings began five days earlier.
Commonwealth Bank rolled out AI assistant and urged Australian safeguards
Commonwealth Bank began rolling out an AI assistant inside its banking app while CEO Matt Comyn said Australia needed safeguards to retain more of the technology’s domestic economic value.
Ecobank signed CIPS memorandum to strengthen Africa-China renminbi payments connectivity
Ecobank signed a memorandum with China's CIPS on 10 October to develop cross-border renminbi payment connectivity across the continent through its network spanning 34 African countries.
Côte d’Ivoire Treasury began regular bulk payments through BCEAO’s PI-SPI platform
Côte d’Ivoire’s Treasury began regular bulk payments through BCEAO’s PI-SPI platform, while the central bank said the seven other WAEMU treasuries would be integrated progressively.
Regulations
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US regulator found large banks used political factors in account closures
The US Office of the Comptroller of the Currency found instances where large banks considered political or religious factors when closing accounts after reviewing nearly 100,000 complaints.
Qivalis won Dutch electronic-money authorisation for planned euro stablecoin launch
De Nederlandsche Bank authorised Qivalis as an electronic-money institution, giving the 37-bank consortium a regulatory base for its planned euro stablecoin launch across Europe this November.
South Korea found hacks at 16 financial firms after data leaks
South Korea identified hacking incidents at 16 financial firms and about 100,000 data leaks, prompting plans for wider inspections, stronger monitoring and tougher management accountability across the sector.
FSB proposed eight principles to modernise global financial supervision frameworks
The Financial Stability Board proposed eight high-level principles for modernising regulation and supervision, while a parallel review urged sharper focus on genuinely systemic cross-border risks.