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Search resuls for: "David French Saeed Azhar"


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☆ More bank jitters as First Republic probes asset sales, 'bad bank' options, source says
  + stars: | 2023-04-25 | by ( Manya Saini David French Saeed Azhar | Manya Saini | David French | ) www.reuters.com   time to read: +6 min
First Republic reported a more than $100 billion plunge in deposits in the quarter in the aftermath of the biggest turmoil to hit the banking sector since 2008. Regional bank PacWest Bancorp (PACW.O) fell 9%, Western Alliance Bancorporation (WAL.N) 6%, Zions Bancorp (ZION.O) 5% and brokerage Charles Schwab Corp (SCHW.N) was down 4%. First Republic said on Monday it was "pursuing strategic options" to quickly strengthen the bank, without providing details. Options include an asset sale of up to $100 billion, a source familiar with the situation said on Tuesday. "So it's tough to even describe it as good asset and bad asset," Chiaverini said.
☆ Exclusive: Citizens Financial eyes bid for SVB's private bank, sources say
  + stars: | 2023-03-23 | by ( David French Saeed Azhar | David French | Saeed Azhar | ) www.reuters.com   time to read: +2 min
Citizens, one of the largest U.S. regional banks, is preparing to submit an offer in the auction of the business, which is called SVB Private, the sources said. The FDIC, which now controls the Silicon Valley Bank assets, and Citizens Financial declined to comment. It has since asked for separate offers for SVB Private and Silicon Valley Bank by March 24. SVB Financial Group (SIVB.O), the former parent of Silicon Valley Bank which filed for bankruptcy protection last week, is not part of the process. A big part of it comprises Boston Private, a wealth manager acquired by Silicon Valley Bank in 2021.
☆ Billionaires Slim, Larrea face off for Citi's Mexico business - sources
  + stars: | 2022-10-27 | by ( Andres Gonzalez David French Saeed Azhar | Andres Gonzalez | David French | ) www.reuters.com   time to read: +2 min
The bid amounts for the unit, known too as Banamex, were not disclosed by the sources. The sources also cautioned that no deal was guaranteed with any party and Citigroup could ultimately decide to sell Banamex shares on the Mexican Stock Exchange instead. Inbursa and Grupo Mexico declined to comment. Backed by Slim, Mexico's richest person, Inbursa was flagged as a strong contender when Citigroup put Banamex up for sale in January. However, mining tycoon Larrea has the firepower to compete as a candidate to buy Banamex, the sources said.
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