Banks

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United Overseas Bank Ltd announces amalgamation of subsidiaries

Friday, 22 Aug 2014 05:08am EDT

United Overseas Bank Ltd:Says its wholly-owned subsidiaries, UOB Bullion and Futures Limited (UOBBF) and UOBBF Global Connect Private Limited (formerly known as UOBF Schneider Trading Private Limited) (UGC), have amalgamated with UOBBF continuing as surviving amalgamated company.The Amalgamation is effective from Aug. 18.Amalgamation will result in operational efficiency and facilitate business growth.Pursuant to Amalgamation, property, rights and privileges of UGC have been transferred to and vested in UOBBF and liabilities and obligations of UGC have been transferred to and become liabilities and obligations of UOBBF.

Unione di Banche Italiane ScpA announces project for integration between IW Bank and UBI Private Investment

Friday, 8 Aug 2014 05:28am EDT

Unione di Banche Italiane ScpA:Says, as part of activities to streamline and enhance Group companies, it approved the launch of a project to integrate IW Bank, the Group’s on-line bank, and UBI Private Investment.The integration plan is being finalized and applications for authorization will then be submitted to the competent authorities.

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