UBS Group AG is a Swiss multinational financial service company and multinational investment bank company founded and based in Switzerland. The company maintains a presence in all major financial centers as the largest swiss banking institution in the world. UBS client services are known for their strict bank–client confidentiality and culture of banking privacy. The bank’s location and position in the Americas, EMEA, and Asia Pacific markets make it a systemically important financial institution within the broader economy of Europe.
Apart from private banking, wealth management, asset management, and investment banking services are provided by UBS. These services are provided for private, corporate, and institutional clients with international service.
Axis Bank is one of the largest private-sector Indian bank which offers a range of financial products. The head office of the bank is located in Mumbai, Maharashtra. Almost 30 percent of shares are owned by the promoters and promoter group. The remaining shares are owned by mutual funds, FIIs, banks, insurance companies, corporate bodies, and individual investors among others.
On 7th August 2020, USB Principal Capital Asia Ltd divested shares worth Rs 150 crore in Axis Bankthrough open market transactions. A total of 35 lakh scrips of the private sector lender were sold at an average price of Rs 428.7 apiece, valuing the deal at Rs 150 crore, according to block deal data on the BSE.
The shares of Axis Bank were picked up by BofA Securities Europe SA at the same price through separate transactions, On the BSE, shares of Axis Bank on Friday ended at Rs 433.2 apiece, up 0.05 percent over the previous close.
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Further, through another transaction, Bandhan Bank sold shares worth over 82 crore to BNP Paribas Arbitrage. The Company focuses on retail and corporate institutional banking services and it operates in France. Bandhan Bank has provided a high quantity of provisions toward COVID19, which affected earnings, even as NII/PPoP growth held strong. Motilal Oswal has given a buy rating to Bandhan Bank with a target price of Rs 425. BNP Paribas Arbitrage purchased a little over 27.41 lakh scrips of the lender at Rs 300 per scrip.
The block deal showed that the legal tender was sold by Goldman Sachs (Singapore) Pte Ltd-ODI at the same price through a separate transaction. Shares of Bandhan Bank on the BSE on Friday closed at Rs 307.45 apiece, higher 2.48 percent over the previous close.
