Cerberus

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HSBC  is also seeking to sell its French retail banking operations, and has entered final negotiations to sell that business to private equity firm Cerberus. Photograph: Getty Images

HSBC said on Friday the US remains key to its growth plans, a day after announcing the sale of its mass market retail US banking business in a country(...)

HSBC cautioned that uncertainty about a global recovery meant it was unlikely to sustain that level of reduction in the $3 billion bad debt provision it had set aside a year ago. Photograph: iStock

HSBC Holdings reported better-than-expected quarterly profit on Tuesday and released $400 million it had set aside to cover pandemic-induced bad loans(...)

The deal is believed to mark Balbec’s initial foray into  Irish non-performing loans. Photograph: iStock

Balbec Capital, an Arizona-based distressed debt investment firm, has emerged as the winning bidder for a portfolio of deep-in-arrears Irish mortgages(...)

Permanent TSB and AIB, in both of which the Government has majority stakes, are on track to say on Friday that they are in talks to buy parts of Ulster Bank’s €20.5 billion loan book in the Republic. Photograph Nick Bradshaw

Permanent TSB and AIB, in both of which the Government has majority stakes, are on track to say on Friday that they are in talks to buy parts of Ulste(...)

An announcement is scheduled to be made on Friday morning as the UK group  reports annual results.  File photograph:  Nick Bradshaw

The board of NatWest is set to decide on Thursday evening on a proposal to wind down Ulster Bank in the Republic after more than 160 years in the mar(...)

Dublin-based Depfa Bank is set to be bought by Austrian lender Bawag from a German State bad bank. Photograph: Kate Geraghty

Dublin-based Depfa Bank is set to be bought by Austrian lender Bawag from a German State bad bank for an undisclosed sum and will continue the orderly(...)

Bawag is Austria’s third-largest listed lender by market value. Photograph: iStock

Austrian lender Bawag Group is emerging as the frontrunner to acquire Depfa Bank, the public sector financier being sold by Germany, people with knowl(...)

PTSB had been widely speculated as a potential merger partner for Ulster Bank in the Republic over the past decade. Photograph: Alan Betson

Permanent TSB (PTSB) has retained investment bank Morgan Stanley to advise on a potential bid for Ulster Bank’s small- to medium-sized business (SME) (...)

The five-star Park Hotel in Kenmare, Co Kerry opened for just three and a half months last year and had an ‘extremely good season’ serving mostly staycationers

John Brennan, one of the country’s best-known hoteliers, does not expect to reopen the five-star Park Hotel in Kenmare, Co Kerry until May or June due(...)

NatWest is using the coronavirus crisis as “a cover” to carry out a review into its Ulster Bank business in the Republic, which is known to be actively looking at winding down the unit, the Financial Services Union has claimed.

NatWest is using the coronavirus crisis as “a cover” to carry out a review into its Ulster Bank business in the Republic, which is known to be activel(...)

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