Banks (Finance)
Harleysville National Bank & Trust Co. has been a reliable lender to homebuilders in suburban Philadelphia, but the current struggles of those builders are starting to affect the bank. Chief executive Paul Geraghty acknowledged the strain, citing the bank's substantial exposure to the residential real estate market. With
Banks (Finance)
China's four major state-owned banks have collectively extended more than 6 trillion yuan in credit to small and medium-sized enterprises (SMEs) by the end of May, as the country continues its efforts to stimulate economic growth and alleviate the impact of the global financial crisis. The Industrial and
Banks (Finance)
Moody's Analytics, a leading provider of research, data, and analytic tools, has entered into an agreement with Dubai Islamic Bank to provide its credit risk assessment tool, RiskAnalystao. This partnership underscores Moody's Analytics' leadership in the Middle East as a pre-eminent provider of credit risk
Banks (Finance)
Businesses that rely heavily on credit for operations and growth are struggling to obtain new loans or refinance existing ones due to credit market impairments. Contrary to reports of contraction in commercial and industrial (C&I) loans, data from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve, and Call
Banks (Finance)
Tata Steel has granted an additional week to a banking syndicate led by Citigroup, StanChart, and the Royal Bank of Scotland to finalise repayment terms for the USD 12-billion loan arranged for the acquisition of the Anglo-Dutch steel maker Corus. The initial deadline was set for May 22, but the
Banks (Finance)
Finance Minister Brian Lenihan announced that the Dail will be recalled over the summer if necessary to pass the law establishing the National Asset Management Agency (NAMA). The agency is designed to manage bad bank loans, with legislation slated for publication by the end of July. Lenihan emphasized the need
Banks (Finance)
Moody's, a leading credit rating agency, announced yesterday that it will review Ireland's triple-A debt rating, sparking concerns about the country's financial stability. The review comes as the Irish government prepares to launch its bad bank plan, which will see banks' troubled property
Banks (Finance)
The Oman Housing Bank has been playing a crucial role in providing affordable housing to low-income individuals and citizens who do not meet the requirements for subsidized loans. In 2008, the bank provided 1,186 loans worth RO. 29.6 million (US$76.9 million) to low-income individuals, with the
Banks (Finance)
Despite a decreasing trend in non-performing loans, China's commercial banks have tightened restrictions on loans granted to real estate developers in 2008. According to the financial results of five listed Mainland China commercial lenders, including ICBC, SDB, BoCom, BoC, and CCB, the proportion of loans granted for real
Banks (Finance)
As one of the eight Georgia banks to fail in the past year, Atlanta-based Omni National Bank's community redevelopment strategy was touted as a refreshing alternative to traditional real estate lending. By targeting low-income urban neighborhoods with community redevelopment loans, the bank sought to revitalize these areas through
Banks (Finance)
Chinalco, China's leading aluminum producer, has signed a $21 billion syndicated loan agreement with four Chinese banks to fund its acquisition of Rio Tinto and other related expenditures. The loan, led by China Development Bank Corp., will help Chinalco smoothly proceed with its investment in the British-Australian mining
Banks (Finance)
The US government's plan to cleanse banks' balance sheets of toxic assets is expected to force large writedowns on loans, requiring banks to raise more capital from taxpayers or investors. Senior bankers warn that the capital shortfall created by the writedowns could make it more difficult for
