Banking industry
Debit card issuers have traditionally shied away from offering rewards programs due to operational costs, but a recent innovation by MasterCard International and Charter One Financial Inc. may change this dynamic. The platform developed by MasterCard allows issuers to create rewards programs that incentivize cardholders to use their debit cards
Banking industry
The Cambodian National Bank has recently shut down 11 out of 31 commercial banks, citing the new minimum capital requirement of $13 million as the reason. While the bank has promised to ensure a smooth liquidation process, depositors of the closed banks are still awaiting news on when they will
Banking industry
Centrica, the parent company of British Gas and AA road services, has announced plans to launch a new internet and telephone bank in a joint venture with Lloyds TSB. The new bank, operating under the Goldfish name, will offer a full range of banking services, including current and savings accounts,
Banking industry
Lloyds TSB is expected to issue a robust response today to Abbey National's rejection of a second informal bid valued at £18.5 billion. The rejection comes after a proposed merger between Abbey and Bank of Scotland (BoS) was reportedly progressing well. Lloyds' initial offer, made last
Banking industry
The former building society made its stock market debut on Monday, offering nearly 2.7 million of its members a chance to sell their shares by auction. Despite expectations of a stronger performance, the shares traded at the low end of the range, giving many members a windfall of just
Banking industry
The recent acquisition of Quaker Oats by Pepsi for $8 billion marks a significant shift in the food and drinks industry towards consolidation. The deal has been a long time coming, with rivals also seeking to acquire the Quaker Oats brand Gatorade, which holds 80% of the American sports drink
Banking industry
Britain's former building societies are facing intense competition from new players in the financial sector, leading to a painful squeeze on margins for established players. Despite attempts to differentiate themselves, building societies such as Bradford & Bingley (B&B) are struggling to attract investors and maintain market
Banking industry
Bradford & Bingley, the former building society set to go public with a £1.2bn-£1.5bn valuation, is preparing to unveil its plans for a web-based funds supermarket. The move is part of the company's efforts to diversify its revenue streams and move away from its traditional
Banking industry
ABN AMRO Bank N.V. is set to become Michigan's second largest national bank after acquiring Michigan National Corporation for US$2.75 billion in cash. The acquisition, which is expected to close by the end of the first half of 2001, pending regulatory approvals, will have a
Banking industry
Caltex Australia will issue $A150 million in three-year floating rate notes on the Australian capital market this week, with the lead manager, National Australia Bank, expecting the notes to price at least 70 basis points above the Bank Bill Swap Rate. The notes have been rated BBB-plus by Standard &
Banking industry
Bradford & Bingley members are facing a critical deadline to decide whether to keep their shares or cash out as the building society prepares to float on the stock market. Meanwhile, Woolwich shareholders are pondering their next move after receiving a mixture of cash and Barclays shares following the takeover.
Banking industry
Compass Bank, a subsidiary of Compass Bancshares, Inc., has embarked on a comprehensive implementation of Software Dynamics, Incorporated's (SDI) ZEUS Platform system across its 317 branches in six Southern states. The ZEUS application, dubbed CompassNavigator, aims to improve customer service by enabling financial service representatives (FSRs) to complete
