Barclays to Acquire Tesco's Retail Banking Business and Form Tesco-Branded Partnership

Barclays Bank UK PLC Acquires Kensington Mortgages from Blackstone and Sixth Street

June 24, 2022

Financial Services

Barclays Bank UK PLC agreed to acquire Kensington Mortgages (KMC and KMS) from funds affiliated with Blackstone Tactical Opportunities and Sixth Street; the deal was announced June 24, 2022 and completed March 1, 2023. The acquisition adds a specialist UK residential mortgage lender — with strong data and technology-driven underwriting and ~600 employees — to Barclays' UK mortgage capabilities.

Cathay General Bancorp Acquires HSBC's West Coast Retail Banking Business

February 7, 2022

Financial Services

Cathay General Bancorp (through Cathay Bank) completed the purchase of HSBC Bank USA, N.A.'s West Coast mass retail consumer banking and retail business banking business, adding 10 retail branches in California and associated loans and deposits. The deal expands Cathay's branch network and consumer/business banking footprint on the U.S. West Coast.

Fidelity Bank Plc to Acquire Union Bank UK

August 30, 2022

Financial Services

Fidelity Bank Plc has entered into a binding agreement to acquire 100% of Union Bank United Kingdom Limited (Union Bank UK), subject to approval from the UK Prudential Regulation Authority. The Central Bank of Nigeria has issued a letter of no objection; the deal represents Fidelity's first international expansion to broaden its trade and diaspora banking services.

Tandem Bank Acquires Consumer Lender Oplo

January 12, 2022

Financial Services

Tandem Bank is acquiring fast-growing UK consumer lender Oplo to create a larger, purpose-led digital bank focused on fairer and greener financial products. The combination — spearheaded by Pollen Street Capital — will produce a profitable digital bank with roughly £1.2 billion of assets, about £1 billion of funding, over 171,000 customers and regulatory approval to complete by end of January 2022.

TDR Capital and Issa Brothers Complete Acquisition of Asda from Walmart

February 16, 2021

Retail

Funds managed by TDR Capital, alongside EG Group co-shareholders Mohsin and Zuber Issa, have acquired Asda from Walmart, with Walmart retaining a minority stake. Asda — a Leeds-headquartered, omni-channel supermarket operator with an estate of over 600 stores and a large online grocery platform — will be repositioned to drive growth, particularly through a partnership with EG Group to develop convenience retail and food-to-go capabilities.

Reading Cooperative Bank and Wakefield Cooperative Bank Announce Partnership

January 2, 2025

Financial Services

Reading Cooperative Bank and Wakefield Cooperative Bank announced plans to enter into a partnership that will create a stronger, more resilient mutual cooperative bank. The combined institution will retain the name Reading Cooperative Bank and is expected to be finalized in late Q2 2025, pending approvals from boards, depositors, the Massachusetts Division of Banks, and the Federal Reserve.