HONG KONG (Dow Jones)–Bank of America Corp. (BAC), which has just completed a US$10 billion stock offering to shore up its finances, said late Wednesday it is committed to keeping a “major” part of its 10.8% stake in China Construction Bank Corp. (0939.HK).
The comment suggests the biggest U.S. bank by market value and deposits [...]
NEW YORK (Dow Jones)–With its U.S. branch network and retail banking business
greatly expanded, JPMorgan Chase & Co.’s (JPM) future focus might turn abroad.
JPMorgan Chairman and Chief Executive James Dimon stopped well short of declaring
the company’s retail banking expansion in the U.S. complete after the acquisition
of the banking operations of Washington Mutual Inc. (WM) late Thursday.
But [...]
Reports Q2 (Jun) loss of $0.49 per share from continuing operations, $0.17 better than the First Call consensus of ($0.66); revenues fell 29.2% year/year to $18.65 bln vs the $17.55 bln consensus. Co said that results in the core franchise were offset by write-downs and credit costs. Results include $7.2 billion in pre-tax write-downs in [...]
UPDATE:Citigroup Considers Sale Of German Citibank Retail Bkg
Last Update: 5/16/2008 11:23:14 AM
(Adds analyst comment.)
FRANKFURT (Dow Jones)–Citigroup Inc. (C) is evaluating the sale of its German
retail bank Citibank Privatkunden AG & Co. KgaA, a spokesman with the German
Citibank unit said Friday.
“Citi CEO Vikram Pandit recently conducted intensive business reviews of all of
our global businesses to optimize [...]
NEW YORK, Apr 21, 2008 (BUSINESS WIRE) — The Board of Directors of Citigroup (C)
today declared a quarterly dividend on the company’s common stock of 32 cents per
share, payable on May 23, 2008, to stockholders of record on May 5, 2008.
The Board also declared dividends on preferred stock as follows:
- 6.5% Non-Cumulative Convertible Preferred Stock, [...]
WSJ.COM/Earnings Preview: Bank Of America Reports Monday
Last Update: 4/15/2008 11:00:00 AM
Bank of America Corp. (BAC) - reports April 21
The largest U.S. retail bank is coming off a dismal fourth quarter and the lowest
annual profit of the seven-year tenure of Chief Executive Kenneth Lewis - and he
has warned that the slog continues. [...]
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