Press officials for Goldman, Wells Fargo, PNC and U.S. Bancorp had no immediate comment. Marcus plans to launch its new accounts later this year. improve your experience and our services. That hurts regional banks most: they rely more on interest income from loans than their Wall Street rivals, which also earn fees on trading and investment-banking activities.…, . A chunk of the bounty may go towards acquisitions closer to home, fuelling a long-awaited wave of consolidation in Europe’s overbanked markets. The combined entity will be a coast-to-coast franchise operating in 29 of the country’s 30 largest markets: half of BBVA’s branches are in Texas, and the rest span southern states, where PNC’s presence is limited. IN MAY PNC, America’s seventh-largest retail bank by assets, sold a stake in BlackRock, an asset manager, for $17bn. Your email address will not be published. PNC's 35 million shares of BlackRock are valued at $17.3 billion based on the New York asset manager's Monday closing price of $493.11. Featuring, MX, Blend, Creditas, and Enfusion. Mergers of equals may become a more significant trend in banking, and U.S. Bancorp and PNC could overcome their M&A reluctance to create a powerful national franchise. Marcus cuts easy-access saver rate again to 1.05%, The Cambridge Building Society migrates to Azure cloud with DPR, Digital lender Blend raises $300m in Series G funding round, Dubai-based Bankiom promises “new way” to manage money, Irish banks plan payments rival to take on fintech entrants. Such “badwill”, in turn, can be used to offset restructuring charges. Last week, PNC Financial Services Group (NYSE: PNC), the holding company of PNC Bank, said it would sell its entire stake in BlackRock, prompting rumors that it … PNC said it would buy the American arm of BBVA, Spain’s second-largest bank, for $11.6bn. | S.2 Episode 1 | Innovation in commercial lending.…, Saudi start-up Hakbah [@HakbahApp] raises $1.2m in seed funding @getpaystone raises CAD 69 million in private equity round from CBGF Click here for more information on our. Your browser does not support the