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Sacombank Reportedly Planning 33% Stake Sale to Raise Up to US$880 Million

Fintech News

The bank, listed in Ho Chi Minh City, intends to offer the shares at 34,500-36,000 dong (US$1.36-US$1.40) This move values the bank at approximately 53.5 The sale faces significant hurdles due to regulatory limits on foreign ownership in Vietnamese banks, capped at 30%. trillion dong (US$2.1

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Mastercard Incurs $650M Fine Over EU Antitrust Law

PYMNTS

Mastercard incurred a $650 million fourth-quarter charge related to a large fine over a 2015 EU antitrust investigation , Reuters reported on Tuesday (Dec. The company was accused of setting rules that blocked banks in one EU country from offering lower interchange fees to a retailer in another EU country.

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From Investing To Budgeting, How Millennials Are Disrupting Personal Finance

CB Insights

A 2018 survey by Bank of America shows that millennials’ top financial priorities were saving for emergency funds (64%), saving for retirement (49%), and saving to buy a house (33%) — not much different from the concerns their baby boomer parents had 30 years ago. From big banks to big tech. get the REPORT on next generation investors.

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Everything You Need To Know About What Amazon Is Doing In Financial Services

CB Insights

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

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The 33 New Faces on the FinovateSpring Demo Stage

Finovate

Here’s an overview of the new-to-Finovate demo companies currently on the roster: APIMatic APIMatic helps banks and fintechs generate ROI from their API investments via automation and AI solutions. Bloom Credit Bloom Credit helps banks and credit unions offer a deposit retention and credit building tool to their client base.

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LendingClub Settles With SEC, DOJ

PYMNTS

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. said U.S. “As Attorney Alex Tse. “We The Response.

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Fools Rush In: 37 Of The Worst Corporate M&A Flops

CB Insights

In 2015, the acquisition was written down for $7.6B. By 2015, however, Tumblr was still failing to turn a profit. Bank of America and Countrywide. For financial giant Bank of America, the $4B acquisition of mortgage lender Countrywide in 2008 probably seemed like a natural way to grow the business. Google and Nest.