Julius Baer to acquire ING's Swiss private bank
Submitted by Satish Kumar on Wed, 10/07/2009 - 08:24.
Geneva - Swiss banking firm Julius Baer Group announced Wednesday it will acquire the Swiss operation of Dutch bank ING for 520 million Swiss francs (505 million dollars).
The deal includes the acquisition of ING private banks in Monaco and Jersey, the group said in a statement.
Integration is expected to be completed in mid-2010, with regulatory approval forecast for the first quarter of next year. Total estimated integration costs were about 65 million francs.
Acquiring the bank would raise Julius Baer's private client assets under management by about 10 per cent. (dpa)
Technical View on Stocks
Recent Images
Technology Sector
Buzzing Stocks
Energy Sector
- India and UK reach an understanding on civil nuclear agreement
- Deregulation of Petrol and Diesel Prices Yet to Receive Government’s Approval
- Britain and India Reach Outline Agreement on Civil Nuclear Cooperation
- Kirit Parikh committee report suggests price rise
- Toshiba JSW plans Rs 800 crore Chennai plant
