Commercial banks
BankAmerica has been appointed as the sole and exclusive administrative agent for a new $150 million acquisition credit facility for InterVoice Inc. This facility is specifically designed to support InterVoice's $164 million acquisition of Brite Voice Systems Inc. According to a Securities & Exchange Commission filing, BankAmerica has
Commercial banks
SIR GEORGE MATHEWSON, chief executive of the Royal Bank of Scotland, has reiterated his call for merger talks with Barclays Bank, citing the recent wave of consolidation on the Continent and the need for UK banks to remain competitive. Despite a 19% rise in first-half profits to £531m, Sir George
Commercial banks
Royal Bank of Scotland's impressive growth rate has made it one of the most attractive stocks in the sector, with analysts expecting a 15% increase in profits to around $510 million. The bank's success can be attributed to solid lending growth, firm margins, and a buoyant
Commercial banks
The Asian Development Bank (ADB) released its Annual Report 1998, detailing its efforts to mitigate the effects of Asia's unprecedented economic crisis in 1998. The report highlights the bank's commitment to promoting economic growth, reducing poverty, and supporting human development in the region. The ADB'
Commercial banks
The International Monetary Fund (IMF) has approved a new program to prevent future global financial crises, with Managing Director Michel Camdessus and Italian Finance Minister Carlo Ciampi announcing that the agency's executive board has given final approval to the creation of new "contingent credit lines" to
Commercial banks
South Asia's economic growth is likely to exceed the rest of the region, despite the Asian financial crisis, according to the Asian Development Bank's "Asian Development Outlook 1999". The region has managed to avoid the impact of the crisis, with countries such as India
Commercial banks
Royal Bank of Scotland is seen as the most likely candidate to acquire Barclays after its new chief executive quit on health grounds in his first day in the office. The resignation comes just five months after the departure of Martin Taylor, leaving speculation whether Mike O'Neill'
Commercial banks
The sudden resignation of Martin O'Neill, the newly-appointed chief executive of Barclays Bank, has sparked speculation about a potential takeover of the company. Analysts have long been watching the bank's share prices, which plummeted significantly after it lost $250 million in Russian bonds. Despite denials from
Commercial banks
The merger of Rental Service Corp. and NationsRent, a $1.5 billion credit facility has been launched in the market, supporting the combined entity, RSC NationsRent. The facility features a five-year $1.1 billion revolving credit and a seven-year $400 million B-term loan, underwritten by BT, BankAmerica, Merrill, and BankBoston.
Commercial banks
BankAmerica Corp. is reportedly planning to make a move on Harris Bankcorp Inc., Chicago's fourth-largest bank, in a surprise bid to expand its presence in the region. The $618-billion-assets BankAmerica has initiated merger talks with Bank of Montreal, Harris' parent company, sources close to the North Carolina-based
Commercial banks
Banc Corp, a bank holding company, has sought approval to acquire Emerald Coast Bancshares Inc., a Florida-based savings association. The proposal involves the conversion of Emerald Coast Bank, a state-chartered savings bank, into a federally chartered savings association before its acquisition by Banc Corp. The approval request was made under
Commercial banks
First Liberty Financial Corp. has finalized the acquisition and merger of Vidalia Bankshares, Inc., the holding company for First Community Bank of Vidalia. The acquisition is expected to be completed by late summer, expanding First Liberty's presence in Vidalia, Georgia. The merger combines the operations of First Community
