Wee Cho Yaw, the billionaire who shaped Singapore's financial landscape by amalgamating several old family-controlled banks, has died. He was 95. The former chairman of United Overseas Bank Ltd. died on Saturday, according to a spokesperson for the lender. His funeral will be held on Feb. 7. Wee was one of the last of a generation of bankers born before World War II
Among midcaps, Trent (Rs 3,342 crore) was the top stock bet of five prominent insurance companies. Indian Hotels, Federal Bank, Ashok Leyland and Bharat Forge (Rs 1,550-1,900 crore) were their other midcap bets.
Investec has retained its 'Buy' ratings on Union Bank and Indian Bank, as it feels lower credit cost may lead to 1 per cent RoA: It has a 'Sell' rating on Canara Bank, as it believes Q1 was a steady quarter for the bank