Commercial banks
The Royal Bank of Scotland is expected to release Birmingham Midshires Building Society from an exclusivity agreement, allowing Halifax to make a formal offer. This development follows weeks of deadlock and paves the way for the building society's members to receive a potential additional £150 each if the
Commercial banks
As part of the forthcoming merger between BankAmerica Corporation and NationsBank Corporation, BA Merchant Services, Inc. (BAMS) will become the primary merchant servicer for the combined organization. Patrick Phillips, head of Card Services for the combined entity, will oversee the relationship with BAMS. The merger is contingent upon regulatory and
Commercial banks
Gene Taylor, who has been president of NationsBank-Florida for three months, will be leaving his position on October 1 to head the West Coast banking operations of the merged NationsBank-BankAmerica Corp. He will be succeeded by Alex Sink, who is currently the head of NationsBank's private banking group
Commercial banks
Healthcare conglomerate Columbia/HCA is selling 22 hospitals in four states to a nonprofit consortium for $1.2 billion, marking the largest purchase of hospitals by not-for-profit health care organizations. Meanwhile, Pan Am Corp. and its lender, NationsBank, reached a repayment agreement, and President Clinton has tentatively chosen Dr. Jane
Commercial banks
Crestar Bank, with its focus on enhancing small businesses' awareness of its lending options, has partnered with Intuit Inc. and nine other banks to launch an internet-based loan program. This initiative promises to make credit information more accessible to customers at their convenience and in their preferred location. The
Commercial banks
Small business owners in 13-state KeyBank branch network can now access loans and lines up to $35,000 and leases up to $150,000 through Quicken Business CashFinder, a new online lending marketplace. The platform profiles clients through credit and business questions and matches them to member institutions that meet
Commercial banks
Crestar Bank and Intuit Inc. have announced a groundbreaking partnership to provide small business owners with a free, first-of-its-kind web service called Quicken Business CashFinder. This innovative platform allows entrepreneurs to quickly and easily evaluate financing alternatives and apply for selected credit products directly from their personal computers. According to
Commercial banks
The Royal Bank of Scotland's profits exceeded expectations, with a record-breaking £400 million in 26 weeks, prompting a nearly 6% surge in its shares. The bank's diversified operations, including its well-run core UK banking and Citizens Financial in the US, have generated significant profits, enabling it
Commercial banks
The Royal Bank of Scotland has announced record pre-tax profits of $448m for the six months to the end of March, with its core UK and American banking arms performing strongly. Despite having to increase provisions for losses in South East Asia, the bank's chairman, Viscount Younger of
Commercial banks
The Birmingham Midshires Building Society, in response to the Halifax Building Society's £780 million takeover offer, has indicated that it may reject the proposal as inadequate. Chief Executive Mike Jackson stated at the society's annual meeting that flotation on the London Stock Exchange remains an option
Commercial banks
As the week began, UK shares recovered some of the ground lost in Monday's panic, with the Footsie index staging a 84.2-point rally to 5,806.6. Despite easing fears of higher US interest rates, the market remains fragile, with many analysts predicting a subdued summer for
Commercial banks
As the banking industry braces for a wave of mergers and acquisitions, Wachovia Corp.'s top executive, Chairman L.M. Baker Jr., has expressed confidence in the company's ability to remain a key player in the South. Despite the recent announcement of a massive merger between NationsBank
