UnionBanCal Corp., which is part of Japan’s Mitsubishi UFJ Financial Group Inc., is buying bank holding company Pacific Capital Bancorp for $1.51 billion in order to expand its presence in California. Under the deal announced Monday, Pacific Capital stockholders will receive $46 per share, which is a 60 percent premium […]

Inter-bank lending rates fell further last week to an average of 14.25 per cent compared to the previous week’s 14.41 per cent after additional cash inflows from the excess crude account disbursal hit the market.  Currency traders said rates would have been lower but for the outflows into treasury bills […]

The Central Bank of Nigeria sold N150.09bn ($953.56m) worth of treasury bills last week at a regular debt auction with yields on the 91-day and 182-day bills falling, while the 364-day yield inched higher. The CBN sold N42.97bn of the 91-day treasury bill at a 14.18 per cent marginal rate, […]