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Euronews English @euronews.com Β· Lyon πŸ‡«πŸ‡· Β· 1h

Commerzbank has announced plans to cut 3,000 jobs and set higher profit targets in response to UniCredit's takeover bid, while emphasizing the importance of maintaining its business model in light of the Italian bank's aggressive ambitions. #Banking #JobCuts #Takeover #DE #IT

www.euronews.com
Commerzbank axes 3,000 jobs as it battles UniCredit takeover bid
Commerzbank has unveiled plans to cut a further 3,000 jobs while sharply raising its profit targets in a direct response to UniCredit's takeover ambitions.
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Reuters @reuters.com Β· London πŸ‡¬πŸ‡§ Β· 2d

As UniCredit seeks to acquire Commerzbank, German officials are contemplating increasing their stake in the bank, currently at 12%, through state-owned bank KfW to block the takeover, while concerns grow about the implications for Germany's financial stability and the economy. #Banking #Economy #CorporateTakeover #DE #IT #US #CN

www.reuters.com
Germany ponders last-ditch plan to thwart Italian bid for Commerzbank
FRANKFURT, May 6 (Reuters) - As UniCredit prepares to take over Commerzbank, some members of Germany's government are examining a drastic step to fend off the unwanted Italian bidder by taking a bigger stake in a lender Berlin considers strategic, people involved in the matter said.
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Reuters @reuters.com Β· London πŸ‡¬πŸ‡§ Β· 2d

Law firms reviewing the governance at HDFC Bank found no major lapses, paving the way for the reappointment of CEO Sashidhar Jagdishan, following the resignation of chairman Atanu Chakraborty amid concerns about discrepancies between personal values and bank practices. #Banking #Governance #Leadership #IN

www.reuters.com
Exclusive: Review of India's HDFC Bank finds no major governance concerns after chairman exit, sources say
MUMBAI, May 6 (Reuters) - Law firms reviewing governance at HDFC Bank (HDBK. NS), opens new tab are set to report this month that they have not found any major lapses, two people with direct knowledge of the findings said, clearing the way for the reappointment of its CEO.
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Reuters @reuters.com Β· London πŸ‡¬πŸ‡§ Β· 2d

Germany's government is considering increasing its stake in Commerzbank through the state bank KfW to block UniCredit's unwanted takeover bid, as officials express concerns over the bank's strategic importance to the country's economy amidst ongoing financial pressures. #Banking #Finance #Germany #DE #IT #US #CN

www.reuters.com
Germany ponders last-ditch plan to thwart Italian bid for Commerzbank
FRANKFURT, May 6 (Reuters) - As UniCredit prepares to take over Commerzbank, some members of Germany's government are examining a drastic step to fend off the unwanted Italian bidder by taking a bigger stake in a lender Berlin considers strategic, people involved in the matter said.
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Reuters @reuters.com Β· London πŸ‡¬πŸ‡§ Β· 2d

As UniCredit seeks to acquire Commerzbank, German government officials are contemplating increasing their stake in the bank, currently at 12%, using state bank KfW to potentially block the takeover due to Commerzbank's strategic importance to Germany's economy, though financial and political challenges remain. #Banking #Finance #Takeover #DE #IT #US #CN

www.reuters.com
Germany ponders last-ditch plan to thwart Italian bid for Commerzbank
FRANKFURT, May 6 (Reuters) - As UniCredit prepares to take over Commerzbank, some members of Germany's government are examining a drastic step to fend off the unwanted Italian bidder by taking a bigger stake in a lender Berlin considers strategic, people involved in the matter said.
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Reuters @reuters.com Β· London πŸ‡¬πŸ‡§ Β· 3d

India's Punjab National Bank is significantly increasing its cybersecurity investments, allocating about 20% of its technology budget, or approximately $73.5 million to $84 million, to combat rising digital threats, particularly from advanced AI, amid heightened regulatory scrutiny and a focus on enhancing its security measures. #Cybersecurity #DigitalTransformation #BankingInnovation #IN

www.reuters.com
India's PNB hikes cybersecurity spend as AI models including Anthropic's Mythos raise risks
BENGALURU/MUMBAI, May 5 (Reuters) - India's Punjab National Bank is stepping up investments in cybersecurity and accelerating procurement of technology to guard against rising digital threats including those from advanced AI models, a senior executive said on Tuesday.
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Reuters @reuters.com Β· London πŸ‡¬πŸ‡§ Β· 3d

Citigroup plans to reveal medium-term profitability targets at its upcoming investor day, emphasizing improvements from its recent reorganization and the role of artificial intelligence in driving growth in its wealth management division, while analysts predict a potential increase in return on tangible common equity targets. #Banking #ArtificialIntelligence #InvestmentStrategy #US

www.reuters.com
Citigroup to announce new profit targets at investor day, CEO says
NEW YORK, May 5 (Reuters) - Citigroup will unveil medium-term profitability targets at its investor day on Thursday, highlighting improvements in expenses and revenue from its multi-year overhaul, while betting on artificial intelligence to drive growth in its wealth business, CEO Jane Fraser said in an interview.