Bloomberg Germany’s public-sector savings banks have initiated the sale of their commercial real estate lender Berlin Hyp AG in what would be the biggest banking deal in Europe’s biggest economy this year. The savings banks association DSGV has mandated Pricewaterhouse Coopers to collect bids which may be valued at least $590 million. Binding offers are due in October. Landesbanks including ...

Bloomberg Canadian Imperial Bank of Commerce (CIBC) is taking over Capital One Financial Corp’s Costco Wholesale Corp credit card business in Canada, helping diversify its portfolio away from travel rewards. CIBC will buy Capital One’s existing portfolio of Costco-branded Mastercards, which has more than $2.4 billion in outstanding balances, and become the exclusive issuer. The change is expected to begin ...

Bloomberg Oversea-Chinese Banking Corp (OCBC) is boosting its wealth management and corporate banking staff for Greater China to capture regional business flow from the world’s second-largest economy. The lender plans to double the number of relationship managers for wealthy Chinese clients to 500 by 2023, Chief Executive Officer Helen Wong said in her first in-person interview. The planned hires will be ...