UK-based financial services provider Barclays may sell FirstPlus, its sub-prime consumer loan business.
The Sunday Telegraph reported that Barclays was ready to sell FirstPlus for less than GBP4.5 billion, compared to the estimated GBP4.9 billion price tag for the unit that was expected earlier in the year.
Having sold the majority of its sub-prime credit card unit Monument to credit card issuer CompuCredit, the bank is delaying a final decision on the sale of its sub-prime consumer loan business until later this month, the Sunday paper said, as cited by Reuters.
US-based General Electric and insurance group American International Group are both hoping to acquire FirstPlus. However, Barclays has declined to comment on this message.
Source: Sunday Telegraph Date: 25.09.2007 [100]
Financial News
Citi gets approval to issue credit cards in China - 06.02.2012 The China unit of Citigroup Inc said on Monday that it has received regulatory approval to issue credit cards in China, the first non-Asian bank to receive permission. Source: Reuters
Three Swiss bankers indicted by U.S. in tax crackdown - 09.01.2012 U.S. authorities are moving toward taking legal action against Wegelin & Co., which could lead to an indictment of one of Switzerland's last pure private banks, on charges that it enabled wealthy Americans to evade taxes, according to two persons with knowledge of the case. Source: Reuters
Islamic finance assets to hit US$ 1.1 trillion in 2012 - 22.11.2011 Islamic finance assets around the world are expected to climb 33% from their 2010 levels to $1.1 trillion by the end of 2012, boosted by the aftermath of the Arab Spring uprisings and dissatisfaction with conventional finance in the wake of the global debt crisis, consultants Ernst & Young said in a report on Tuesday. Source: Reuters
Spanish bank ratings downgraded by Fitch and S&P - 12.10.2011 Two leading credit rating agencies have downgraded some of Spain's largest banks, citing a deteriorating outlook for the Spanish economy. Source: BBC News
Spotlight on Islamic Retail Banking – strategies for fast growing industry - 07.10.2011 Islamic Banking is young but fast growing industry what brings challenges as need for standardization, expanding at the market, lack of public awareness about Islamic Banking (misinterpretation) and limited resources of qualified people in this particular industry. Source: Fleming Gulf
JBIC inks $43bn credit line pact with Japan banks - 05.10.2011 The Japan Bank for International Cooperation (JBIC) said Wednesday that it has signed separate pacts with three major Japanese banks to give them a combined $43 billion, or Y3.3 trillion, credit line, as part of the government's steps to encourage companies to go ahead with M&As overseas. Source: Nikkei
