In today’s top news in digital-first banking, Mexico’s Prosa is looking for a buyer that will pony up more than $1 billion, while United Bankshares has struck a merger agreement with Community Bankers Trust. Plus, The European Central Bank (ECB) says that the advent of a digital version of the euro could strengthen the currency’s standing.
United Bankshares Buys Community Bankers Trust
United Bankshares, United Bank’s parent company, has struck a merger deal with Community Bankers Trust, Essex Bank’s parent company. The combined organization will be worth approximately $29 billion under the deal. “This transaction enhances our existing presence in the DC Metro MSA and takes us into new markets including Baltimore, Annapolis, Lynchburg, Richmond and the Northern Neck of Virginia,” United Bank Chairman and CEO Richard M. Adams said, as previously reported.
Mexico Payments Firm Prosa Shops For Buyer, Seeks $1 Billion
Mexico’s Prosa is seeking a buyer that will pony up over $1 billion, according to a published report. Prosa is owned by many banks, such as Grupo Financiero Banorte in addition to the local arms of HSBC and Banco Santander. Sources said that the sales process is garnering interest from many large payments and financial technology firms. An investment bank is in charge of shopping Prosa around, according to a published report. The news comes as dLocal, which is based in Uruguay, announced it had priced its initial public offering at $21 per share.
Euro’s Standing Could Improve With Digital Version, ECB Says
The European Central Bank says in a new report that the advent of an electronic version of the euro could bolster the currency’s global standing by making it simpler for individuals to save or pay, particularly in “third countries” with volatile currencies. The ECB hasn’t decided as of now whether to debut a digital euro, according to a published report. But ECB President Christine Legrand told one outlet in March that introducing a digital euro would take a minimum of four years, assuming it does happen.