NS Banking

Under the terms of the transaction, certain shareholders of the Cyprus-based banking company received €2.56 per share for the additional 107.7 million shares purchased by Eurobank Eurobank, a subsidiary of Eurobank Ergasias Services and Holdings, has increased its stake in Hellenic Bank to 55.3% through a deal worth €275.7m. In this connection, Eurobank acquired an additional 26.1% stake in the Cyprus-based banking company after securing the relevant regulatory approvals.

The deal is anticipated to help Axway create a new major player in enterprise software markets and financial services Application programming interface (API) management firm Axway has agreed to acquire financial technology firm Sopra Banking Software (SBS)’s activities from Sopra Steria Group at an enterprise value of €330m.

The merger facilitates the migration of clients and operations from Credit Suisse to integrated UBS platforms over time, following business, client- and product-specific requirements UBS Group AG announces it has completed the merger of UBS AG and Credit Suisse AG. The completion of the merger within the expected timeline was facilitated by the strong support from regulators across the globe.

Under the off-market purchase, the British banking and insurance holding company will buy back 392 million ordinary shares with a nominal value of £1.07 each from the government at a price of 316.2p per share NatWest Group has agreed to make an off-market purchase of its shares worth £1.24bn from the UK government’s economic and finance ministry HM Treasury.

In the first pilot, Swift will upgrade its existing Payment Controls service using an AI model and in the second pilot, it will use advanced AI technology to analyse data from different sources to strengthen the global financial ecosystem Global financial messaging services provider Swift, together with member banks, has launched two AI-based pilots to combat cross-border payment fraud and save fraud-related costs.

Expobank has completed the transaction, and HSBC confirmed the ownership transfer of its business to the Russian lender, and the unit would continue to operate, under a new, unspecified name HSBC has completed the sale of its Russian business unit to Moscow-based privately held commercial bank Expobank, for an undisclosed sum, after nearly two years of negotiations.

The German lender completed the migration of its global FX, FX derivatives, equities, and commodities activity onto Murex’s integrated MX.3 platform, with the help of Infosys, to improve its trading operations and simplify its technology Germany’s Commerzbank has teamed up with French financial services company Murex and Indian information technology (IT) consulting company Infosys to upgrade its trading platform.

The acquisition of Hauck Aufhäuser Lampe is projected to add nearly €26bn in assets under management and €2bn in loans for ABN AMRO ABN AMRO has agreed to acquire German private lender Hauck Aufhäuser Lampe (HAL) from Chinese conglomerate Fosun International for €672m in a move to boost its wealth management business in Germany.

New alliance aims to enable digital access for 100 million individuals and businesses in Africa over next decade Mastercard and the African Development Bank Group today launched the Mobilizing Access to the Digital Economy (MADE) Alliance: Africa to extend digital access to critical services to 100 million individuals and businesses in Africa over the next 10 years. The announcement was made on the sidelines of the U.S.-Africa Business Forum hosted by the U.S. Chamber of Commerce.