All Entries Tagged With: "bank"

Swedbank Declared Above Expected Profits

The Swedish banking group Swedbank publicized an above as expected second-quarter company operation operating profitability on Thursday as loan losses came in well below expectations, according to Reuters. The bank, which is expected to post a full-year profit after spending 2009 in the red, said it believed results would continue to increase, and assumed that [...]

Debt-Relief Scams On The Rise

The Federal Reserve proclaimed that American owes at least 2.5 trillion dollars in consumer debt. Because of this huge figure, thousands of debt-settlement companies have sprung up promising to cut down the amounts people owe in exchange for a fee. However, Authorities warn that most of those companies are scams, taking advantage to rip off [...]

Germany’s Siemens is Establishing its Own Bank

Siemens AG (Siemens), Germany-based multinational company with a business portfolio of activities in the areas of electronics, communication, and electrical engineering, is planning to set up a bank under its own name to reduce dependence on bank financing considering difficulties faced during the financial mayhem. Siemens already submitted a request to obtain a banking license [...]

Ag Bank of China IPO Set To Shatter Record

Upcoming initial public offering of Agricultural Bank of China (ABC) is expected to be the world’s largest. The bank is one of the four big state-owned lenders in China and the last one to list its shares in stock exchanges.

Umpqua Buys Yet Another Failed Bank

In a recent development, Umpqua Holdings Corp., owner of Umpqua Bank in Oregon, acquired control over Nevada Security Bank. Apparently this is the third failed bank this year bought by the company. Set up in Oregon, Portland, Umpqua plans to expand into Nevada with the purchase, with a whooping 181 number of branches as credentials.

With the closure of Nevada Security Bank, the number of bank failures in U.S. this year rose to 83. More failures are being awaited in the third quarter of the year. Hundreds of banks are still finding it hard to deal with failing portfolios of money-making real estate loans, according to a report.