Key Insights and Signals in Banking & Financial Services
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Centre Setup & Expansion
Karur Vysya Bank opens new Personal Banking Branch in Hyderabad
The Bank has been growing year on year, widening its reach, and opened its first High Net worth Individuals (HNI) Branch in Banjara Hills, Hyderabad. This will be the 792nd Branch exclusively for retail assets and personal banking services. Read More>>
Deals
UniCredit enters into an agreement with SVEA EKONOMI for the sale of NPLs in Croatia
The Italy-headquartered bank has agreed to sell a portfolio consisting of residential mortgages and consumer loans with the company SVEA EKONOMI (licensed in Croatia) and for the sale of future flows in the next two years. Read More>>
Berkadia signs multiyear agreement with Esusu
This partnership unlocks greater equity for renters, improves property performance for multifamily owners and operators, and reduces lender risk. Through Berkadia’s introduction, Esusu will service over 285 properties across more than ten management companies, including Burbank Housing, Capital, Morgan Properties, and more. Read More>>
Mergers and Acquisition
National Bank Holdings Corporation receives regulatory approvals to acquire Bank of Jackson Hole
The transaction adds approximately USD 1.7 Bn in total assets, including USD 1.1 Bn in total loans, USD 1.5 Bn in total deposits, and USD 676 Mn in assets under management as of June 30, 2022. The acquisition is expected to close in early October. Read More>>
Banc of California enters the payment processing business with the acquisition of Deepstack Technologies
The acquisition provides the Bank with a proprietary technology platform for payment processing, offering its clients the full stack of payment services as a payment gateway, payment provider, and an ISO 8583 payment switch. Read More>>
Cadman Capital Group strengthens its beverage portfolio with the acquisition of Alder Ridge Vineyard
The purchase increases the group’s land under vine ownership to over 130 acres, firmly positioning it as one of the leading landowners in the sector. The deal also secures distribution of Cadman’s existing beverage brands across the Cobbs Farm Shops estate, the former owner of Alder Ridge. Read More>>
Partnerships
IDFC FIRST Bank integrates payment on WhatsApp to enable FASTag recharge
The Bank announced the launch of its integration with payments on WhatsApp to enable secure FASTag recharge for the Banks customers. This partnership allows customers to recharge within IDFC FIRST’s WhatsApp chatbot and complete the transaction from within the chat thread. Read More>>
Mahindra partners with UCO Bank for SUV financing
The tie-up will allow Mahindra to leverage UCO Bank’s vast network of over 3,000 branches, thereby extending the reach of its financing options to prospective passenger vehicle customers across the country. Read More>>
Executive Movement
OnPoint Community Credit Union appoints Wendy Beth Oliver as Chief Legal Officer
As Chief Legal Officer, Oliver leads OnPoint’s legal strategy and team, aligns its legal and business goals, and advises the credit union on corporate governance, contracts, compliance, and regulatory issues. Read More>>
Fannie Mae names Anthony Moon Executive Vice President and Chief Risk Officer
In this role, Moon will be responsible for Fannie Mae’s Enterprise Risk Management, which oversees the company’s governance and strategy for global risk management. Moon will be a member of Fannie Mae’s Management Committee and report to David C. Benson, Fannie Mae’s President, and Interim CEO. Read More>>
Ecobank Group appoints Jeremy Ayeyemi as new CEO
Jeremy Awori is joining Ecobank Group following a 25-year-long career in the banking industry, with almost a decade leading Absa Bank Kenya Plc as the CEO & Managing Director. Read More>>
Layoff
Westpac closures take branch losses to 225 since last January
The Finance Sector Union, engaged in wage negotiations with Westpac, slammed the move after Westpac closed a call center in Perth and 24 branches in August. It also cut 24 branches in July, taking the total number of branch closures since January last year to 225. Read More>>
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Latest Industry Insights from Draup Braindesk
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Digital Platform Solution
- Bank of the West has partnered with Mastercard to launch a digital platform known as Digital Doors that provides necessary tools and resources for the entrepreneurs of small firms to run the business efficiently with the guidance needed from the platform.
Treasury Management Platform
- Bank Of The West has launched TreasuryNow, a centralized treasury management platform with an Intuitive design, a Robust payment module, Industry-leading reporting, Strong security and authentication, Enhanced omnichannel connectivity, and Interactive customer support.
Mobility Financing Solution
- To expand its reach in the mobility financing market, BNP Paribas has partnered with Jaguar Land Rover to offer automotive financial solutions such as stock financing, classic loans, lease-to-purchase, long-term lease, and insurance products.
Wine Estates
- Bank Of The West has invested in the acquisition of Chateau Ste. Michelle Wine Estates by Sycamore Partners, a private equity firm, for USD 1.2 Bn to develop its expertise in the wine marketplace, go-to-market approach, inventory management, and flexible financial solutions.
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Funding Alert
SoftBank to invest USD 35 Mn in GoMechanic
In what will be its smallest bets in India by its Vision Fund, SoftBank Group is in talks to invest USD 35 Mn in the car service and repair firm GoMechanic. According to sources, SoftBank was initially uncomfortable with the Indian firm’s valuation request of USD 1 Bn. Read more>>
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Startup Spotlight
Company – Jai Kisan
Total Funding – USD 95.6 Mn
About: Jai Kisan is a fintech platform providing sustainable financing for emerging rural markets. They help farmers understand their financial status through a next-generation/hyper-localized agriculture credit score digitizing their finances and farm capabilities for financial institutions. Read more>>
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Latest Reports Published in Draup
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Here’s what’s new on our Sales Intelligence Platform
Introducing KPIs specific to each use case in Industry Curator
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- Get to see your subscription-related information, including start and end date, under Administration
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- Introducing KPIs specific to each use case in Industry Curator
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Sales
