banking industry

Bosses of BofA are going to buy Florida banking assets?

December 22, 2009 - 6:44am | Banks and internet banks | News

According to the recent report of Bloomberg Hugh McColl Jr. and Marc Oken ex-CEO and CFO of Bank of America Corp accordingly are among investors backing a group raising as much as $600 million to buy Florida banking assets.

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416 problem US banks with $3.7 billion losses, a decline or a growth?

August 28, 2009 - 5:07am | Analytics | News

According to Thursday report released by the Federal Deposit Insurance Corp problem banks in the United States increased more than 1/3 to 416 in the second quarter of 2009. Meantime, the regulators claim that there are signs of stabilization in the industry.

The report showed that the industry dropped back to a $3.7 billion loss in the second quarter, after reporting a $7.6 billion profit in the first quarter, primarily due to costs associated with rising levels of bad loans and falling asset values.

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S&P says American banking industry might not come out of crisis before 2013

May 14, 2009 - 8:00am | Analytics | News

Just one day after it was said that the U.S. banks will need only fourth of the capital demanded by the government Standard & Poor's reported that American banking crisis "merely entered a new phase" and will likely to show signs of coming to its end not earlier than 2013.

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Citigroup and General Electric earn more and lose less

April 17, 2009 - 4:12pm | Banks and internet banks | News

The smallest loss since 2007 was reported by Citigroup Inc. The bank posted a first-quarter loss to common shareholders of $966 but before it earned $1.6 billion. A loss per share made up 18 cents instead of 34 cents which were predicted by analysts. A year ago, the company suffered a loss of more than $5 billion, or $1.03 a share. Shares rose 12 percent in pre-market trading.

banking industry | Citigroup | first-quarter earnings | General Electric | pre-market trading

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BofA plans to get rid of First Republic

February 26, 2009 - 9:25am | Banks and internet banks | News

According to the unnamed sources familiar with the situation Bank of America is seeking to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co. The unit was purchased by Merrill Lynch in September 2007 as a move to increase the company's wealth-management and banking operations. Merrill ran First Republic as a stand-alone unit with its own brand name and management.

Bank of America | banking industry | First Republic Bank | Merrill Lynch | noncore assets

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Speculations on the governments 40% stake in Citi may come true

February 26, 2009 - 3:02am | Banks and internet banks | News

The Wall Street Journal citing the people familiar with the situation around Citigroup Inc reported on its website that the company is closing in on the deal with the U.S. government to increase it ownership in the bank to as much as 40%, confirming thus speculations that were spread before. The deal could be announced today, on Thursday.

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Obama’s assumption, the stock market falls while dollar increases

January 21, 2009 - 3:50am | News | Other themes

The stock market continued to decline irrespective of the inauguration ceremony that marked the change of the state power. While the stock indexes show large drops in the stocks of banking institutions other sources inform that the inauguration impacted the dollar rate. On Tuesday financial stocks led a huge fall on Wall Street.

banking industry | Barrack Obama | dollar rate | inauguration | Stock market

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Uncompetitive financial market spurred by the Citi-Morgan deal

January 12, 2009 - 3:25am | Banks and internet banks | News

Analysts expect the prospective combination of brokerage units at Citigroup and Morgan Stanley to incite other consolidations in the banking industry. The deal between Citi and Morgan Stanley is considered by the experts as an indicator of still weak condition of the industry. Analysts say that 2009 can be another year of multibillion-dollar losses for banks. Thus with the rising losses banks will likely consider the possibility of selling some assets to raise funds.

banking industry | brokerage | Citigroup | Morgan Stanley

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Rural banks contributed 67% of jobs in Philippines banking industry

December 23, 2008 - 9:25am | Banks and internet banks | News

67 percent of net new employment generated by Philippine's rural banking system. This system also helped to open 70 percent of the new branches opened from 2003 to 2007. Rural bankers Association of the Philippines (RBAP) has been observed rural banks improvements during the past four years. And in spite of financial crisis the present conditions still offer tremendous opportunities/ According to RBAP's president Tomas Gomez the next few years will be rather hopeful.

ATM | banking industry | Philippines | Rural banks

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