HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around $700-$750 million in the next few days, two people familiar with the matter told Reuters on Wednesday.
ING, which already has a presence in Tur
Dutch lender ING Group is set to win the auction to buy HSBC's Turkish business, people familiar with the matter said.
Four people familiar with the situation said HSBC had narrowed the field to one suitor, with two of the sou
ING Group NV, BNP Paribas and Bahrain-based Arab Banking Corporation (ABC) have submitted bids to buy HSBC's Turkish business, a source familiar with the process said.
The source said the bids are non-binding, suggesting that
Potential bidders for HSBC's Turkish business include ING Group, Qatar National Bank (QNB) and Bahrain-based Arab Banking Corp (ABC), people familiar with process said on Friday.
Four sources said Dutch bank ING and Qatar Nati
Dubai Mercantile Exchange (DME) has approved ING Bank’s Singapore brand to issues letters of credit (LCs) for trading on DME directly from Singapore to support customers in Asia.
This latest development is part of DME’
Bahrain-based BBK has announced the successful liquidation of its open-ended equity fund which was set up in partnership with Dutch financial group ING.
The liquidation of 'BBK-ING Mena Fund' follows an earlier decision by
Fund managers will rotate dedicated money out of Dubai and into Abu Dhabi, Qatar and Egypt in search of a safe investment haven, as the Gulf emirate delayed billions of dollars of debt obligations this week.
International fund managers say
Bahrain accused foreign banks of unethically piling pressure on Gulf currency pegs and warned it would 'take action' against anyone targeting its dollar-pegged dinar, a magazine reported, citing the central bank governor.
Bahrain cut inter