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Stock Market & Financial Investment News

News Breaks
January 31, 2013
06:34 EDTSANSantander looks to float U.S. consumer finance unit in Q2 or Q3, Reuters says
Santander (SAN) CEO Alfredo Saenz says the bank is looking to float its U.S. consumer finance business in Q2 or Q3, but has not yet set a specific timetable for the planned listing, Reuters reports. Saenz also commented to analysts that the bank has ruled out a capital hike. Reference Link
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July 25, 2014
06:40 EDTSANLoan write down standards changed for non-U.S. banks, NY Times says
A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).Reference Link
July 22, 2014
06:15 EDTSANBanco Bilbao wins auction to buy Catalunya Banc for EUR1.19B
The Management Commission of the Banking Restructuring Fund has accepted BBVAs bid in the competitive auction for the acquisition of Catalunya Banc S.A. As a consequence, BBVA has executed a sale and purchase agreement with FROB, by virtue of which FROB will sell up to 100% of the shares of Catalunya Banc to BBVA for the price of up to EUR1.19B. Closing of the sale and purchase transaction will be subject, among others, to the obtaining of the relevant administrative authorizations and approvals and to the effective closing of the transaction announced by Catalunya Banc to the market on July 17 whereby Catalunya Banc will transfer to an asset securitization fund a loan portfolio with a nominal value of EUR.6.4B.

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