| //10-09-2009 |
Wells Fargo & Company (NYSE:WFC) said today that through August 2009 it has completed 33,172 trial and final modifications under the Home Affordable Modification Program (HAMP), a 64 percent increase over the past 30 days. The company also modified 251,244 additional home loans using its own programs focused on reaching affordable and sustainable mortgage payments for customers in need, bringing the total number of modifications or trial modifications started or completed so far this year to 284,416.
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| //08-09-2009 |
HSBC Bank Polska SA has agreed to sell its HSBC Credit branded consumer finance portfolio, and its credit card portfolio, to Alior Bank SA. The total consideration, to be paid in cash on completion of the deal, will be at a premium to the net book value of the receivables at the date of completion.
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| //08-09-2009 |
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| //08-09-2009 |
Principal Figures of Financial Institutions
(Preliminary Figures for August 2009)
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| //07-09-2009 |
Credit Suisse was recognized in a number of categories in Euromoney’s 2009 Awards for Excellence:
* Best Investment Bank
* Best Wealth Management House
* Best Emerging Markets M&A House
* Best Bank in Switzerland
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| //07-09-2009 |
Wells Fargo Securities announced today that Sumner E. Anderson will be joining the Healthcare Investment Banking Group as Managing Director. He will be responsible for generating corporate finance and strategic advisory solutions focusing on clients in the specialty pharmaceutical and biotechnology sectors.
“Sumner’s diverse experience across healthcare investment banking and investing makes him uniquely positioned to lead our Biopharma effort,” said John Hudson, Managing Director and head of Consumer, Healthcare and Gaming Investment Banking. “Sumner will be a strong addition to our team, helping to drive financing and strategic solutions tailored to our clients’ needs.”
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| //07-09-2009 |
The Bank of America Charitable Foundation today announced it will contribute $50,000 to aid communities impacted by the Southern California wildfires. The funds will help agencies and nonprofits, such as the American Red Cross, the Los Angeles County 2-1-1 Disaster Hotline, and the LA County Firemen's Relief Association. Bank of America associates and family members are also volunteering to be trained to provide 2-1-1 emergency call support.
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| //06-09-2009 |
Dr. Josef Ackermann, Chairman of the Management Board and the Group Executive Committee Deutsche Bank AG, speaks about the "Basic Features of a New World Financial Order" at the 2nd ZEIT Financial Centre Conference "New Architecture for the Financial Industry" in Frankfurt am Ma
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| //06-09-2009 |
HSBC Bank Polska SA has agreed to sell its HSBC Credit branded consumer finance portfolio, and its credit card portfolio, to Alior Bank SA. The total consideration, to be paid in cash on completion of the deal, will be at a premium to the net book value of the receivables at the date of completion. The gross asset value of the two portfolios was PLN1 billion (US$350 million) at 31 July 2009.
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| //06-09-2009 |
Industrial and Commercial Bank of China Limited ("ICBC" or the "Bank", SSE: 601398; SEHK: 1398) today announces its interim results for the six months ended 30 June 2009. Based on International Financial Reporting Standards, ICBC's profit after tax for the first half of 2009 was RMB 66.7 billion, up 2.8% from the same period last year. Earnings per share was RMB 0.20. The steady growth in earnings resulted in further enhancement in investment return for shareholders. The Bank's annualized return on average total assets and return on weighted average equity reached 1.26% and 20.86%, up 0.05 and 1.43 percentage points from the end of last year respectively.
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| //05-09-2009 |
At 7 p.m. this evening, 4,000 classical music fans from around the world will see the Berliner Philharmoniker perform their first concert of the season. The performance will be broadcast free of charge in excellent audiovisual quality on Deutsche Bank's homepage.
Starting on August 7, 2009, Deutsche Bank invited music lovers to sign up for this unique concert experience on its Internet site www.db.com. The initial online registration for 2,000 listeners was taken up almost immediately, so the bank raised the figure by another 2,000, which met with the same overwhelming response. Yesterday, the bank was therefore forced to close the online registration ahead of time.
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| //05-09-2009 |
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HSBC announces five new emerging market Purchasing Managers' Indices (PMIs ) - the largest number of new PMIs ever announced at one time
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Including seven existing emerging market PMIs, HSBC now provides PMI data for 64% of the emerging market economies of Asia, South America and Europe
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First ever PMI announced for South Korea and Taiwan, and new service sector PMIs introduced for Brazil, China and India
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HSBC to use PMIs for composite index and world's first emerging market index in October - the HSBC EMI
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| //05-09-2009 |
The results of selection "World Best Internet Banks 2009" organized by Global Finance, US, were announced recently and ICBC Pocketed 2009's three important awards- "Best Consumer Internet Bank of China", "The 2009 Best Integrated Consumer Bank Site of Asia" and "The 2009 Best Integrated Corporate Bank Site of Asia". According to introduction, that is the consecutive 7th time for ICBC to win the honor "Best Consumer Internet Bank of China".
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| //04-09-2009 |
Wells Fargo & Company (NYSE:WFC) said it will resume accepting registered warrants, or IOUs, on Sept. 4, 2009, for deposit that were issued by the State of California to its Wells Fargo and Wachovia retail and business customers.
Customers, who must have opened their account on or before August 31, 2009, will have next-business day funds availability for the principal amount of the IOU, subject to Wells Fargo’s funds availability policy. For all IOUs deposited on Sept. 4 through Sept. 30, 2009, if the accrued interest on the IOU exceeds $5, the full amount of the interest paid will be credited to the customer’s account within 30 days of deposit. After Sept. 30, Wells Fargo will still accept the IOUs for deposit, but the accrued interest will not be credited to the customer. Wells Fargo will not cash registered warrants.
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| //22-08-2009 |
Bank of America, which has lost 10 directors through resignations or retirement since April, elected a former Morgan Stanley executive, Robert Scully, to its board, which now has 14 members. Mr. Sully, 59, part of Morgan Stanley’s office of the chairman until he retired in January, oversaw asset management, merchant banking and the Discover credit card business, the bank said.
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| //22-08-2009 |
Aug. 22 (Bloomberg) -- China Construction Bank Corp. joined rivals including Industrial & Commercial Bank of China Ltd. this week in posting profits that beat analyst estimates, on rising fee income and lower bad-loan provisions.
Construction Bank, the nation’s No. 2 lender by market value, had second-quarter net income of 29.55 billion yuan ($4.33 billion), according to calculations by Bloomberg derived by subtracting first-quarter results from first-half numbers reported yesterday. That compares to the 27.2 billion yuan average estimate of eight analysts surveyed by Bloomberg.
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| //22-08-2009 |
Bank of China (3988.HK) (601988.SS) has sent an internal document to its branches advising them to scale back lending for the rest of the year, becoming the latest major domestic bank to put a brake on lending, two sources at the bank said on Friday.
Concern that a possible tightening of bank lending could slow the economy had pushed China stock markets down earlier this week while the yen surged to a one-month high against the dollar on Friday, with traders citing worries about the potential for further weakness in Chinese shares.
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| //21-08-2009 |
As a wave of bank failures sweeps across the U.S., a few foreign banks are stepping into the auction ring.
Regulators will likely be most comfortable with those foreign banks that already have a commercial presence and proven track record in the U.S
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| //20-08-2009 |
UBS AG announced the formal signing of a settlement agreement with the US Internal Revenue Service (IRS) regarding the John Doe summons issued on 21 July 2008. The summons has been the subject of a civil action in the United States District Court of the Southern District of Florida. The principal terms of this settlement agreement and the related agreement entered into at the same time by the governments of Switzerland and the United States are described below:
The agreement does not call for any payment by UBS. Moreover, it resolves all issues relating to the alleged breaches of UBS's Qualified Intermediary Agreement with the IRS as set forth in the Notice of Default dated 15 May 2008.
As part of the settlement, the parties will promptly file a stipulation with the court to dismiss the enforcement action relating to the John Doe summons.
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| //10-08-2009 |
MCB Bank Ltd., Pakistan’s biggest by market value, said its board has approved the proposed purchase of Royal Bank of Scotland’s local operations as the U.K. lender seeks to raise capital.
Any agreement would also be subject to the signing of a share purchase agreement and State Bank of Pakistan approval, MCB Bank said in a statement to the Karachi Stock Exchange today.
Jahangir Siddiqui & Co., a financial service provider, Egypt’s Orascom Telecom Holding SAE and Rojhan Capital are also interested in buying RBS Pakistan unit, according to statements to the stock exchange.
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