| //10-08-2009 |
|
| //10-08-2009 |
Three regional banks failed Friday, bringing the 2009 tally to 72, the Federal Deposit Insurance Corporation said.
Two Florida banks -- First State Bank, of Sarasota, and Community National Bank of Sarasota County, in Venice, -- and one Oregon bank -- Community First Bank, of Prineville -- closed Friday.
St. Cloud, Minn.-based Stearns Bank, N.A., will assume control of the assets of both Florida banks, and Home Federal Bank, of Nampa, Idaho will assume the assets of the Oregon bank,the FDIC said.
|
| //07-08-2009 |
U.S. bank failures rose to 72 this year with the collapse of two lenders in Florida and one in Oregon amid the worst economic slump since the Great Depression.
Regulators shut First State Bank and Community National Bank, both based in Sarasota, Florida, and Community First Bank in Prineville, Oregon, the Federal Deposit Insurance Corp. said in statements yesterday. The FDIC was named receiver. Closing the lenders, with combined assets of $769 million and deposits of $662 million, will cost the deposit insurance fund about $185 million.
|
| //07-08-2009 |
|
| //07-08-2009 |
Delinquencies in mortgages and home equity lines of credit at Citizens Financial Group are “steadily rising,’’ the local banking company’s British parent reported yesterday.
The Royal Bank of Scotland said in an earnings statement that 3.7 percent of Citizens’ mortgages and 2.7 percent of its home equity loans had one or more payments past due. Citizens Financial Group, of Providence, operates Citizens and Charter One banks in the Northeast and Midwest United States
|
| //07-08-2009 |
Bank of America Corp., which acquired Merrill Lynch & Co. this year, reported a $3.4 billion second- quarter profit from foreign operations and said the value of loans was $64 billion less than listed on its balance sheet.
The Merrill purchase expanded the bank’s reach into about 40 countries, and gains from trading contributed to an international profit, the company said in a regulatory filing today. U.S. operations had a $205 million deficit on rising losses from credit-card and housing loans, the company said.
|
| //07-08-2009 |
Standard Chartered PLC announced another record performance for the first half of 2009 with income rising 14 per cent to US$7.96 billion and operating profit before tax of 10 per cent to $2.84 billion. The Group has seen substantial income momentum across markets with four key geographies reporting over $500 million of income each in the first half.
The performance was driven by strong momentum in Wholesale Banking with income rising 37 per cent, benefitting from market dislocation and volatility leading to market share gains. Restructuring initiatives in Consumer Banking began to show early positive results with income falling only three per cent over the second half of 2008 while operating profit increased 11 per cent over the same period
|
| //05-08-2009 |
Lloyds Banking Group Plc, the British lender that acquired HBOS Plc in January, posted a first-half loss of 3.1 billion pounds ($5.2 billion) because of writedowns on corporate and real estate loans.
The lender set aside 13.4 billion pounds for bad debts, more than the 11.3 billion-pound estimate of eight analysts surveyed by Bloomberg. The proforma loss compared with a profit of 1.95 billion pounds in the year-earlier period, the London- based bank said in a statement today.
|
| //05-08-2009 |
-Although 2009 has been a taxing year, 84 percent of independent registered investment advisors (RIAs) say they expect to grow at a moderate clip or faster over the next five years, according to the just-released 2009 Charles Schwab RIA Benchmarking Study. A cornerstone of Schwab’s Business Consulting Services platform for independent advisor clients, this year’s study reveals that while advisors are optimistic, they are finding that making time to focus on business development and growth remains a significant challenge amid the current market turmoil and demands from existing clients.
|
| //05-08-2009 |
|
| //05-08-2009 |
|
| //01-08-2009 |
UBS AG, the Swiss bank that’s set to report a third consecutive quarterly loss, may be close to resolving a U.S. tax probe that spurred defections by wealthy customers.
The U.S. and Switzerland “have reached an agreement in principle on the major issues,” U.S. Justice Department attorney Stuart Gibson said in a telephone conference call with U.S. District Judge Alan Gold yesterday. The remaining points will probably be settled in the next week, he said.
|
| //01-08-2009 |
|
| //01-08-2009 |
Bank of America Corp., the lender that took $45 billion in U.S. aid, said three directors resigned this week, pushing the total of departing board members to 10 since April. The board now has 13 members.
John T. Collins, William Barnet III and Gary Countryman resigned, according to a regulatory filing. The exits weren’t the result of a disagreement with management, the Charlotte, North Carolina-based bank said yesterday.
|
| //27-07-2009 |
Cortal Consors, a subsidiary of BNP Paribas and a leading online brokerage, has launched the new online platform cortalconsorsderivatives.com through a partnership with Saxo Bank, the online trading and investment specialist.
|
| //27-07-2009 |
#
Net income attributable to common shares was C$114 million for the quarter ended 30 June 2009, a decrease of 27.8 per cent over the same period in 2008.**
#
Net income attributable to common shares was C$199 million for the half-year ended 30 June 2009, a decrease of 41.1 per cent over the same period in 2008.**
#
Return on average common equity was 13.3 per cent for the quarter ended 30 June 2009 and 11.6 per cent for the half-year ended 30 June 2009 compared with 18.6 per cent and 20.0 per cent respectively for the same periods in 2008.**
|
| //27-07-2009 |
Standard Chartered Bank (China) Limited (“Standard Chartered China”) is pleased to announce that Katherine Tsang will be appointed Standard Chartered Bank’s Chairperson for Greater China, where she will play an important leadership role in delivering the strategy for the region.
Katherine Tsang has been with Standard Chartered Bank since 1992, and was appointed CEO of Standard Chartered Bank in China in March 2005. Under her leadership, Standard Chartered China has grown significantly and achieved unprecedented financial performance. Katherine has also successfully implemented a series of key projects in China, which have not only established the Bank’s business in the country, but also helped to support the sustainable, long-term growth of the Chinese economy.
|
| //27-07-2009 |
|
| //27-07-2009 |
According to data compiled by the Service Employees International Union (SEIU), Bank of America isn’t quite the friend of small business it claims to be. The overwhelming majority of loans made through the Small Business Administration are called SBA 7(a) loans, and they are used to finance operating expenses. During FY 2007 (October 2006-September 2007), BofA gave out 10,878 SBA 7(a) loans worth $336 million. But during the 12-month period between May 2008 and April 2009, those numbers plummeted to just 484 loans worth $20 million. During this same period, Bank of America received $52.5 billion in taxpayer bailout funds.
|
| //26-07-2009 |
|
