Sector: Banks
Amex and Goldman Sachs are partnering up to pitch their biggest corporate clients on an easier way to manage and send payments
Amex and Goldman Sachs are linking up on a new business-payments feature. The firms are linking their data and offering combined payments processing for large corporations. It’s an effort to combine fragmented payments and accounts together in one place. American Express and Goldman Sachs are teaming up in the hopes of simplifying how the world’s … Read more
Kotak Mahindra Bank to acquire 9.9% in KFin
Kotak Mahindra Bank (KMB) has agreed to acquire 9.98% in KFin Technologies Private Limited (KFin) for a cash consideration of Rs 310 crore. Funds will be infused directly into the company via fresh share issue. Key points to note – KFin was earlier known as Karvy Fintech. However, in December 2019 it renamed itself to … Read more
It’s not weakness in IBC, but in how people are gaming it
You announced on Thursday that the government will provide ₹30,600 crore in guarantees to the National Asset Reconstruction Co. Ltd to buy ₹2 trillion of bad loans from banks. This will be in a 15:85 split, with NARCL offering banks cash for 15% of the value of assets and issuing security receipts for the rest … Read more
ICICI Bank gets IRDAI approval to reduce stake in ICICI Lombard
As at June 30, 2021, ICICI Bank held 51.87% of the equity stake in ICICI Lombard – the general insurance business. On September 3, 2021, ICICI Lombard informed the exchanges about receipt of approval from Insurance Regulatory and Development Authority of India (IRDAI) for ICICI Bank to reduce the stake in Lombard to 30%. The … Read more
Kotak Mahindra Bank technically looking strong
Kotak Mahindra Bank (KMB) is one of the under performer in the current bull market. The stock is at similar levels as it was in December 2019 compared with nifty that has increased by >40% during this period. However, it seems that KMB is now trying to make a move. Checkout the chart below. On … Read more
AU continues to see key personnel exits. Bound to make investors nervous
March 3, 2021 – Nitin Gupta, Chief Auditor Officer resigns and eventually moves to Equitas Small Finance Bank July 14, 2021 – Alok Gupta, Chief Risk Officer resigns. Disclosed by the Company only on August 29, 2021 supposedly after their inability to try retain him back August 31, 2021 – Sumit Dhir, Head Internal Audit … Read more