Rome / AFP The world’s oldest bank, Italy’s Monte dei Paschi di Siena (BMPS), asked the European Central Bank for more time to raise the cash it needs to avoid being wound down. BMPS said it was asking for the extension from the end of December to mid January because the political instability created by Prime Minister Matteo Renzi’s …

  Bloomberg PrivateBancorp Inc. postponed a shareholder vote on a takeover by Canadian Imperial Bank of Commerce (CIBC) after proxy-advisory firms and some investors called the $3.96 billion cash-and-stock offer insufficient following a post-election rally of U.S. regional lenders. “In view of the significant changes to trading market conditions over the past few weeks, we believe it is in the best …

  MANAMA / Reuters Al Baraka Banking Group is targeting the sale of capital-boosting sukuk worth $300 million in the first quarter of 2017, the chief executive of the Bahrain-based Islamic lender, with operations in over a dozen countries, said on Tuesday. “You’ll see issuance of sukuk in the first quarter of 2017 around $300 million, and we are talking …