Commercial banking

Citi was unable to reach a deal despite more than a year of talks with a long list of suitors for its consumer, small-business and middle-market banking divisions across Mexico.

The $15 a share price represents a 121% premium to where Greenhill's stock traded at the close of Friday, before the deal was announced.

The fact that SoftBank, one of the world's most aggressive tech investors, is looking at private credit is more evidence of the market's rapid growth.

The move threatens to upend efforts by the billionaire German Larrea's Grupo Mexico to purchase the retail operations of Banamex, one of the country's oldest banks, from Citigroup.

Lazard posted a surprise loss for the first quarter and in April announced plans to reduce its workforce by 10% this year, predicting a slowdown in M&A advisory business will last through 2023.

Community banks tapped the brakes during the first quarter, citing higher interest rates, recession threats and fallout from regional-bank failures. Fed data shows the trend has continued into May, and executives are preaching caution.

The California bank says the drop occurred last week after a news report that the lender was in talks with potential investors.

Regulators' de facto ban on bank mergers and acquisitions is not just harming individual institutions. It poses systemic risk.

The top five banks and thrifts have combined total deposits of more than $7 trillion as of December 31, 2022.

Ninety-eight percent of owners reported that they had not changed their business's primary financial institution in the last month, according to a National Federation of Independent Business survey out Wednesday.