Investment banks

Societe Generale Bank Srbija recorded in Q1 profit after tax of 2.1 billion dinars (17.7 million euros), + 50% higher in annual terms. This is a continuation of positive trend from 2017, when the bank ended business year with a profit after tax of six billion dinars (49.7 million euros) at the Bank level, i.e.

EFKA, the country's main pension fund, is considering its participation in Attica Bank's 197.97-million-euro share capital increase.

The French Societe Generale Banking Group is withdrawing from all countries in Central and Eastern Europe and is also selling its business in Bulgaria - Societe Generale Expressbank, Capital reported.

French President Emmanuel Macron promised 1.5 billion euros ($1.85 billion) of public funding into artificial intelligence by 2022 in a bid to reverse a brain drain and catch up with the dominant U.S. and Chinese tech giants, reported Reuters. 

Romania's central bank said on Thursday it had rejected Hungary's OTP Bank's acquisition of Banca Romaneasca, despite the competition watchdog clearing the purchase late last year.

OTP signed a deal in July with National Bank of Greece to purchase Banca Romaneasca.

But the sale, which had been expected to close later this year, needed regulatory approval by the central bank.

Turkey has mandated the Bank of China, HSBC and the Industrial and Commercial Bank of China Limited (ICBC) to explore bond issuance opportunities in China’s Panda bond market, the Turkish Treasury stated on Feb. 21.

Banking giant HSBC more than doubled pre-tax profit to $17.2 billion in 2017, it announced on Feb. 20, after a recovery drive to streamline its business and slash costs.

Greek authorities are moving forward with plans to issue a seven-year government bond, sources said on Monday.

The state has hired five banks -- Barclays, BNP Paribas, Citi, J.P. Morgan and Nomura -- for the transaction.

Greece has hired five banks for a euro bond that could come as early as next week, according to sources.

The sovereign has mandated Barclays, BNP Paribas, Citigroup, JP Morgan and Nomura for the transaction, which is likely to have a seven-year tenor.

[IFR]

Swiss financial watchdog FINMA said on Thursday the Swiss subsidiary of U.S. bank JPMorgan had committed serious anti-money laundering breaches in relation to Malaysian sovereign wealth fund 1MDB.