M&A
Mergers, acquisitions, divestitures, and deal-making across the global financial sector.
Argentina's Grupo Financiero Galicia Acquires HSBC Argentina for $550 Million
Grupo Financiero Galicia has agreed to buy HSBC Argentina for $550 million, a price that includes $100 million of HSBC Argentina subordinated debt, cementing its position as Argentina's largest domestic private bank.
Lesha Bank Qatar Signs Deal to Acquire 100% of Kazakhstan's Bereke Bank for KZT 65 Billion
Lesha Bank has signed a share purchase agreement for full ownership of Bereke Bank Kazakhstan, from state holding Baiterek, subject to approvals.
Royal Bank of Canada Completes Acquisition of HSBC Bank Canada on 28 March 2024
Royal Bank of Canada has completed its acquisition of HSBC Bank Canada, ending HSBC's retail banking presence in Canada after a C$13.5 billion deal announced in November 2022.
Italian Treasury Cuts Monte dei Paschi Stake to 26.7% as Bank Prepares First Dividend in 13 Years
Investors paid €4.15 a share for a 12.5% stake in Banca Monte dei Paschi di Siena, cutting the Italian Treasury's holding to 26.7% as the bank prepares to pay its first dividend in 13 years.
Bank BTPN completes acquisition of 51% stakes in OTO and Summit Oto Finance
The SMBC-owned Indonesian lender took control of the two vehicle-financing companies known as OTO Group, with Sumitomo Corporation and Sinar Mas Multiartha retaining minority stakes.
First National Corporation Agrees to Acquire Touchstone Bankshares in $47 Million Virginia Deal
First National Corporation has agreed to acquire Touchstone Bankshares for $47 million in a Virginia community bank deal.
Access Bank Signs Agreement to Acquire National Bank of Kenya from KCB Group
Access Bank has signed an agreement to acquire National Bank of Kenya from KCB Group at 1.25 times NBK's book value (reported at around $100 million).
Sound Credit Union Agrees to Acquire Washington Business Bank for $25.9 Million
Sound Credit Union announced a $25.9 million deal to acquire Washington Business Bank, a transaction carrying a 165.8% price-to-tangible common equity ratio and ranked among the more richly priced US bank deals of 2024.
Thailand's SCBX Signs Agreement to Acquire 100% of Home Credit Vietnam for Approximately USD 851 Million
An SCBX subsidiary has signed a share purchase agreement to buy Vietnam's second-largest consumer finance platform from Home Credit NV in a deal worth around USD 851 million.
Kuwait Finance House Completes Merger with Ahli United Bank, Becoming Kuwait's Largest Bank
Kuwait Finance House has completed its merger with Ahli United Bank Kuwait, a deal KFH described as the first of its kind in Kuwait's banking sector, lifting KFH to the position of world's second-largest Islamic bank by assets.
Capital One Agrees $35 Billion Deal to Acquire Discover Financial Services
Capital One Financial has announced a definitive agreement to acquire Discover Financial Services in a deal valued at approximately $35 billion, which would create the largest US credit card issuer by loan balances.
Turkish Fintech Unicorn Papara Reportedly Set to Acquire Pakistani Digital Wallet SadaPay in $30–50 Million Deal
Papara, Turkey's first fintech unicorn, is reportedly in advanced talks to acquire Pakistani digital wallet SadaPay in a deal valued at between $30 million and $50 million.