* Taipei prosecutors looking into Chi Mei, Innolux deal Nov 17, 2009
The Miaoli-based company expects to sign a five-year loan from 19 banks, led by Mega International Commercial Bank Co (), spokesman Jimmy Chiu () said by telephone. After Innolux and Chi Mei announced their merger, Chiu said on Saturday that the syndicated loan might be delayed if terms needed to be changed to reflect the new entity. (Taipei Times, Taiwan -- World)
Southwest Ranches site faces foreclosure Nov 17, 2009
Jacksonville attorney James R. McCachren III, who represents Rockbridge Commercial Bank in the lawsuit, did not immediately return a call seeking comment. Most Read Stories. (South Florida Business Journal, FL)
Feds Shut 3 Banks in Florida, Calif. Nov 15, 2009
Last week brought the closure of the fourth-biggest bank to fail this year: San Francisco's United Commercial Bank, with $11. 2 billion in assets. (CBS News)
Asia Currencies Advance, Led by Peso, Rupiah on Economic Recovery Optimism Nov 15, 2009
50 by year-end, said , vice president at Chinatrust (Philippines) Commercial Bank in Manila. Money sent home by Filipinos living overseas is equivalent to about 10 percent of the $167 billion economy. (Bloomberg -- Australia & New Zealand)
Synovus: Capital position strong Nov 14, 2009
-based financial services holding company that owns Birmingham's First Commercial Bank said its capital position remains strong and it is well-capitlizaed by regulatory standards. As of Sept. 30, Synovus Tier 1 Capital Ratio was 10. (Birmingham Business Journal, AL)
Editorial: Why did funds flow to troubled bank? Nov 13, 2009
It is tempting to dismiss Friday's forced closure of United Commercial Bank of San Francisco as the isolated problem of one troubled institution. As The Bee's Andrew McIntosh reported in September, the Securities and Exchange Commission was investigating the bank after discovering it had hidden huge commercial real estate losses. (Sacramento Bee -- Opinion)
Asia Commodity Stocks Fall, Bonds Rise; China Shares Rally on Yuan Outlook Nov 13, 2009
Industrial & Commercial Bank of China Ltd., the worlds most profitable bank, rose 1. 4 percent to HK$6. (Bloomberg -- Asia)
Local banks begin to topple Nov 13, 2009
Last Friday, the FDIC closed the 63 U.S. branches of United Commercial Bank, which was taken over and reopened by East West Bancorp of Los Angeles. United Commercial was the 120th bank seized by federal regulators so far this year. (San Francisco Chronicle -- Business)
Ghana & Africa Bedevilled? Nov 12, 2009
It is next to impossible to read the numbers and letters on ATM machines at the nations premier Bank, Ghana Commercial Bank. Passing a freedom of information act in parliament has passed through many sessions and elected officials dont feel the electorate have a right to even know the office numbers of Ministers and MPs. (Ghana Web, Ghana)
ICBC to open subsidiary bank in Moscow Nov 12, 2009
BEIJING, May 28 (Xinhua) -- Industrial and Commercial Bank of China (ICBC) is expected to open a subsidiary bank in Moscow in early 2007, according to an economic and trade cooperation forum held Saturday in southwestern Sichuan Province. ICBC, China's largest state-owned commercial bank, began to apply for establishing the Moscow operation this year. (Xinhuanet, China -- Business)
United California Bank seizure after bailout poses questions Nov 12, 2009
United Commercial Bank of San Francisco was closed by the state Department of Financial Institutions late Friday ... United Commercial Bank's $298. (Fresno Bee -- Local)
United Commercial Bank had $14.5 million in Sacramento defaults since '08 Nov 12, 2009
United Commercial Bank had $14 ... United Commercial Bank, which was seized by state and federal regulators late Friday, was brought down by bad lending practices and $14. (Fresno Bee -- Local)
East West foresees expansion, not closings Nov 11, 2009
None of the United Commercial Bank s branches acquired in the deal will close, Ng said, emphasizing that it was important to refrain from a slash and burn strategy ... Frankly, a lot of current East West staff and management came from United Commercial Bank and they had a lot of staff and management from East West ... United Commercial Bank was established a year later in San Francisco s Chinatown. (Sacramento Business Journal, CA)
Ken Lewis: Merrill deal to pay off in time; savings ahead of schedule Nov 11, 2009
Lewis said the financial advisers, most of them from legacy Merrill, have made 1,400 referrals to the commercial bank. He also said there are 770 "wealth-management banking specialists" deployed to help the Merrill advisers cultivate relationships with consumer banking customers. (Fresno Bee -- Lifestyle)
* Corporate lending on the up: Chinatrust Nov 10, 2009
Chinatrust Commercial Bank (H) yesterday announced year-on-year growth in corporate loans of NT$510 million (US$15 ... Liang, former president of Taipei Fubon Commercial Bank Cos (x_I) retail banking division in Taipei, led the bank through problems with consumer loan defaults on credit cards and cash cards. (Taipei Times, Taiwan -- World)
Rwanda: Trial of Genocide 'Bankroller' Begins in Belgium Nov 10, 2009
Nkezabera, a former Director of the Commercial Bank of Rwanda (BCR), is facing charges related to financing the 1994 Genocide against the Tutsi and his trial began in Assize Court of Brussels after a long delay. He is reported to be suffering from liver cancer which is in its advanced stages. (allAfrica.com)
Angle Announces 2009 Third Quarter Results Nov 10, 2009
In order to maintain or adjust the capital structure, the Company will consider its forecasted net debt to forecasted funds from operations ratio while attempting to finance an acceptable capital expenditures program, including incremental capital spending and acquisition opportunities, the current level of bank credit available from the commercial bank, the level of bank credit that may be attainable from its commercial bank as a result of oil and gas reserves growth, the availability of other... (CCNMatthews Press Releases)
'Africa needs China' Nov 10, 2009
Much of this will be Chinese commercial bank financing and China's commercial banks have both the liquidity and the appetite to step up their support for China's trade and investment with Africa. "With almost 150 years of experience on the African continent and through its strategic partnership with ICBC, Standard Bank is well- positioned to facilitate these commercial financing transactions for trade, infrastructure and investment projects, thereby expanding the financing opportunities... (iAfrica.com)
Standard & Poor's Makes Changes to Small-Cap Index Nov 10, 2009
UCBH's main subsidiary, United Commercial Bank, based in San Francisco, was closed Friday by California regulators and placed under receivership of the Federal Deposit Insurance Corporation. The deposits were assumed by East West Bank of Pasadena, Calif. (ABC News -- Wire)
United Commercial Bank goes to East West Nov 9, 2009
FDIC sells United Commercial Bank to East West - Silicon Valley / San Jose Business Journal ... FDIC sells United Commercial Bank to East West ... 1 percent for the deposits at United Commercial Bank s 63-branch network stretching from San Francisco and Los Angeles to Seattle, Atlanta and New York. (San Jose Business Journal, CA)
Chinese president to visit Malaysia Tuesday Nov 9, 2009
Recent reports had also speculated that the Malaysian government was to announce the issuance of an operating permit for the Industrial and Commercial Bank of China Ltd (ICBC) to coincide with the visit, making it the second Chinese bank after Bank of China. The visit, also comes at a time when the two countries are celebrating the 35th anniversary of the establishment of diplomatic ties between the countries. (The Star Online, Malaysia)
* Business Quick Take Nov 8, 2009
United Commercial Bank in San Francisco with assets of US$11. 2 billion was the largest of the failures reported on Friday by the Federal Deposit Insurance Corp. The other banks were located in the states of Missouri, Minnesota, Michigan and Georgia and were substantially smaller. (Taipei Times, Taiwan -- Sports)
Banks in Ga., Mich., Minn., Mo., Calif. closed Nov 8, 2009
The Federal Deposit Insurance Corp. took over United Commercial Bank in San Francisco, with $11 ... The failure of United Commercial Bank is expected to cost the federal deposit insurance fund an estimated $1. (WCAX.com, VT)
Five more U.S. banks fail; total now 120 Nov 8, 2009
5 billion, the vast majority of which is for United Commercial Bank. Here is a roundup of reports from the DBJ's sister American City Business Journal news websites. (Denver Business Journal, CO)
United Commercial Bank 120th bank to fail in U.S. Nov 8, 2009
United Commercial Bank 120th bank to fail this year in U.S._English_Xinhua. United Commercial Bank 120th bank to fail this year in U.S. ... LOS ANGELES, Nov. 7 (Xinhua) -- The San Francisco-based United Commercial Bank reopen Saturday as branches of East West Bank after it was shut down by regulators Friday night and immediately sold to the Pasadena-based East-West Bancorp. (Xinhuanet, China)
- Thanks You: United to honor survivors 0 Nov 7, 2009
The Campout could not have taken place without the sponsorship of the following: Pioneers Memorial Healthcare District, IID, Vantage Oncology, Imperial High School, Brawley Pharmacy, Time Warner Cable, Community Valley Bank, Desert Commercial Bank, Sun Community Federal Credit Union, The Family Treehouse, Brawley Trailer Supply, Wal-Mart El Centro Supercenter, Smith Kandal Insurance, Hart Insurance Center, Inc., Brawley Express, LLC, Domino s Pizza El Centro, Johnny s Burritos, Teamsters Local... (El Centro Imperial Valley Press, CA)
Business briefs Nov 7, 2009
Five US banks failed last night and were taken over by the FDIC. The banks were: United Commercial Bank of San Francisco, Gateway Bank of St. Louis, Prosperan Bank of Minnesota, Home Federal Savings Bank in Detroit and United Security Bank in Georgia ... Five US banks failed last night and were taken over by the FDIC. The banks were: United Commercial Bank of San Francisco, Gateway Bank of St. Louis, Prosperan Bank of Minnesota, Home Federal Savings Bank in Detroit and United Security Bank in... (New York Post -- Business)
Governments Woeful Handling of the Petroleum Sector Nov 7, 2009
In other words, government inertia alone has ballooned TORs liability to Ghana Commercial Bank (GCB) by an additional 2 trillion. By even the worlds lowest standards, this cannot be said to be a better management of the TOR debt. (Ghana Web, Ghana)
Fed official: 'Too big to fail' too big to ignore Nov 7, 2009
"At present, these apply only to firms that own a commercial bank -- a regulatory gap that became painfully evident last year as systemic problems arose from the activities of other firms." ... There already is a procedure in place for banks, but not for holding companies, Tarullo said, or for companies that don't own commercial banks. (Daytona Beach News Journal -- Local)
UCBH Holdings' Bank Is Seized, Becomes 120th U.S. Lender Closed This Year Nov 7, 2009
Nov. 7 (Bloomberg) -- United Commercial Bank, a San Francisco-based lender with $11. 2 billion in assets, was seized by regulators, becoming the 120th this year. (Bloomberg -- US)
BofA talking turkey on hunt for CEO Nov 6, 2009
It's crucial to identify a replacement for outgoing boss Ken Lewis who can pass muster with both shareholders and regulators of the nation's largest commercial bank ... It's crucial to identify a replacement for outgoing boss Ken Lewis who can pass muster with both shareholders and regulators of the nation's largest commercial bank. (New York Post -- Business)
BB&T files trio of foreclosures Nov 6, 2009
3 million mortgage from Commercial Bank of Florida in 2006, Biscayne Center 129 completed the 27-unit office condo, at 12955 Biscayne Blvd. in North Miami, in 2007. It sold six units. (South Florida Business Journal, FL)
1 in 5 Georgia banks troubled Nov 6, 2009
Topping the list of 57 Georgia banks in the third quarter: RockBridge Commercial Bank, a small Atlanta lender, with an eye-popping Texas ratio of 1,144 percent a nearly 10-fold increase from the second quarter ... RockBridge Commercial Bank Atlanta 1144 ... McIntosh Commercial Bank Carrollton 592. (Atlanta Journal-Constitution -- Business)
750,000 dollar package for Satellites Nov 6, 2009
Mr Djanie said the Committee had opened a special account for the donations for the Satellites with the name Satellites Special Account at the Ghana Commercial Bank, the Agricultural Development Bank and the Merchant Bank. He said the account in addition to a special hotline with the various mobile phone companies has been evolved for donations, under which 70 per cent of the amount will go to the Satellites and 30 to the companies. (Ghana Web, Ghana)
CEO of Samba Foods calls for proactive SMEs Nov 6, 2009
Mrs Aku MacBruce, Area Manager of the Ghana Commercial Bank in charge of the Tema Zone who chaired the function, urged SMEs not to downplay research, but to value the findings and apply them seriously in their day-to-day activities. Source:GNA. (Ghana Web, Ghana)
Texas Capital CEO joins Dallas Fed board Nov 6, 2009
Jones is joining the Dallas Fed s nine-member board as one of its three commercial bank representatives. Three other members represent the public and three are appointed by the Federal Reserve Board of Governors in Washington, D.C.. (Dallas Business Journal, TX)
John Reed Says `I'm Sorry' for Glass-Steagall Repeal, Building Citigroup Nov 6, 2009
Citigroup was formed in 1998 when Citicorp, a commercial bank, combined with Travelers Group Inc., which owned the investment firm Salomon Smith Barney Holdings Inc. The New York-based company lost $27. 7 billion in 2008 and took $118 billion in writedowns. (Bloomberg -- US)
BoE set to pump billions into UK economy - again Nov 6, 2009
"The BoE's Monetary Policy Committee today voted to maintain the official bank rate paid on commercial bank reserves at 0.50 pe 00004000 r cent," the central bank said in a statement. "The committee also voted to continue with its program of asset purchases financed by the issuance of central bank reserves and to increase its size by STG25 billion to STG200 billion ($A363.44 billion," it added. (Sydney Morning Herald -- Business)
Chinas ICBC may get nod for Msian ops soon Nov 5, 2009
PETALING JAYA: The worlds most profitable bank, Industrial and Commercial Bank of China Ltd (ICBC), is expected to be issued a banking permit to operate in Malaysia soon. The approval could be given as early as next Wednesday, coinciding with Chinese President Hu Jintaos two-day visit to Kuala Lumpur, Singapores The Straits Times said yesterday. (The Star Online, Malaysia -- Business)
Ramos joins Barclays Nov 5, 2009
A second new business grouping, to be called Corporate and Investment Banking (CIB) and Wealth Management, comprising Barclays Capital, Barclays Commercial Bank and Barclays Wealth, will be led by Group President Robert E Diamond Jr.. Ramos commented that the new Barclays structure, and in particular the alignment of the corporate and investment banking operations, supports Absa's own strategic goal of creating one seamless Absa, which will function in an integrated manner to improve operational... (iAfrica.com)
Struckhoff Marks 40 Years With U.S. Bank Nov 5, 2009
U.S. Bancorp, with $265 billion in assets, is the parent company of U.S. Bank, the sixth largest commercial bank in the United States. The company operates 2,851 banking offices and 5,175 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. (Missourian Publishing, MO)
Trico Reports Third Quarter Results -- Strength Continues in Subsea Services Businesses as Company Dramatically Improves Balance Sheet Nov 5, 2009
Mr. Compofelice continued, "We made excellent progress regarding our liquidity challenges with the successful closing of our $400 million high yield notes offering. With those proceeds, we eliminated substantially all of the Company's commercial bank debt worldwide, and have deferred amortization of principal for five years. This improved our balance sheet with the current portion of our long-term debt being reduced from $188 million at June 30, 2009 to $22 million at September 30, 2009. We also... (Primezone Releases)
Botswana, Nigeria And Cape Verde Secure U.S. $ 441 Million for Energy And Poverty Reduction Projects Nov 5, 2009
The project, to be co-financed by the World Bank, the Industrial and Commercial Bank of China and Standard Bank Consortium (ICBC-SB), is designed to achieve energy generation self-sufficiency in the wake of rapidly declining electricity imports to support economic growth and reduce poverty. Botswana relies on imported electricity to meet the bulk of its needs. (allAfrica.com)
As others lie low, Quadrant on roll Nov 4, 2009
That enabled the company to do bank SBA loans while giving it the backing of a commercial bank. The business has taken off. (Cincinnati Business Courier, OH)
Diamond Moves Beyond Barclays Investment Bank to Control Commercial Loans Nov 4, 2009
Nov. 4 (Bloomberg) -- , Britains second- largest lender, handed control of its commercial bank to President as stepped down. Diamond, 58, will oversee commercial banking and will keep control of investment banking and wealth management, London- based Barclays said in a statement yesterday. (Bloomberg -- UK)
Raj Rajaratnam Said to Keep Personal Investments in Sri Lanka Amid Probe Nov 4, 2009
4 percent of Commercial Bank of Ceylon Plc as of Sept. 30; and 13. 5 percent in as of March 31, according to data from CT Smith. (Bloomberg -- Asia)
* Chinatrust Financial changes president Nov 4, 2009
In a statement issued by the company yesterday, Chinatrust Financial said Wu would also continue to serve as company spokesman and chief investment officer at Chinatrust Commercial Bank (HU). His new appointment will be subject to the financial regulators approval, the statement said. (Taipei Times, Taiwan -- World Business)
Africa gives China more than business Nov 3, 2009
Chinas largest bank, Industrial and Commercial Bank of China, owns 20 percent of Standard Bank. Huawei Technologies, Chinas biggest telecoms equipment maker, is pushing south from its established stamping ground in north Africa. (Business Report, South Africa)
Mizuho Is Said to Start Investment Banking Business in Saudi Arabia Today Nov 2, 2009
Goldman in 2007 signed a preliminary strategic cooperation agreement with the investment banking unit of Jeddah-based National Commercial Bank. Mizuho Securities also aims to open branches in Seoul, Ho Chi Minh City, Taipei and Malaysia to offer broking services for Japanese and Asian companies and to advise on mergers and acquisitions, President Keisuke Yokoo said at a May 7 briefing. (Bloomberg -- Japan)
In search of a time gone by Oct 31, 2009
The Ghana Commercial Bank now occupies the old cinema house where, for a shilling, we used to follow the exploits of John Wayne or Garry Cooper in the B-movies that made it to our screen in those days. On market days, especially during the cocoa season, the daily film shows were suspended for the itinerant concert parties to entertain the townsfolk with educative plays having titles like Ne ya enti a okoto enni tire, or Ebusua do fun. (Ghana Web, Ghana)
Albina Community Bancorp Reports First Quarter Loss; Pre-Tax, Pre-Provision Earnings Increase 72% Oct 31, 2009
Albina Community Bank is a locally owned, full-service, independent commercial bank committed to investing in individuals, families, businesses and local neighborhoods ... Albina is one of approximately 50 commercial banks across the United States certified by the U.S. Treasury Department's Community Development Financial Institutions Fund as a community development financial institution ... Albina is the only CDFI-certified commercial bank headquartered in Oregon. (Primezone Releases)
* Local banks bad loan ratio fell to 1.38% last month Oct 31, 2009
Chinfon Commercial Bank (y) continued to top the list with an NPL ratio of 14. 95 percent last month. (Taipei Times, Taiwan -- World)
Puget Sound Bank Posts Record Profits; Earnings More Than Triple in 3Q09 Oct 31, 2009
Puget Sound Bank is a locally-owned and operated commercial bank proudly serving the greater Puget Sound region. Based out of Bellevue, Washington, the bank was founded to meet the specialized needs of small and medium-sized businesses, commercial real estate projects, professionals and individuals seeking a higher level of service in the Puget Sound region. (Primezone Releases)
KeySource Commercial Bank posts profits Oct 30, 2009
for free extra services. Subscribe to Triangle Business Journal. (Triangle Business Journal)
Asian shares rebound on US growth Oct 30, 2009
The Hang Seng jumped 3 per cent, with Industrial and Commercial Bank of China (ICBC) the biggest contributor as it gained 4. 4 per cent after a 19 per cent rise in quarterly profit. (Sydney Morning Herald -- Business)
Asian Stocks Rise as Earnings, Japan Jobless Data, Stoke Growth Optimism Oct 30, 2009
Industrial & Commercial Bank and Bank of Chinas third- quarter earnings were buoyed by a loan surge and lower provisions for potential losses on loans and investments. ICBC gained 4. (Bloomberg -- Asia)
Cascade Bank Named Favorite Snohomish County Company in NW Jobs 2009 Peoples Picks Campaign Oct 29, 2009
Established in 1916, Cascade Bank, the only operating subsidiary of Cascade Financial Corporation, (Nasdaq: - ), is a state chartered commercial bank headquartered in Everett, Washington. Cascade Bank has proudly served the Puget Sound Region for over 90 years and operates 22 full service branches in Everett, Lynnwood, Marysville, Mukilteo, Shoreline, Smokey Point, Issaquah, Clearview, Burlington, Woodinville, Lake Stevens, Bellevue, Snohomish, North Bend and Edmonds. (Primezone Releases)
Asian Stocks Extend Global Slump on ANZ, PetroChina Earnings; Yen Advances Oct 29, 2009
Industrial & Commercial Bank, the worlds largest bank by market value, fell 2. 7 percent to HK$6. (Bloomberg -- Asia)
TOR Struggling To Secure Credit Oct 28, 2009
For the past two days, TOR has been talking to ECOBANK Ghana Limited to help it raise the needed credit to pay the oil lifting giant, after the Ghana Commercial Bank declined to help, citing shrinking reserves. Credible sources close to the Bank and TOR management say, ECOBANK is struggling to marshal the size of credit being requested by the debt-ridden Tema-based refinery. (Ghana Web, Ghana)
* CDIC auctions off Chinfon Bank assets Oct 28, 2009
After two failed bids, the Central Deposit Insurance Corp (CDIC, sO) yesterday auctioned off debt-ridden Chinfon Commercial Banks (y) assets, liabilities and operations, including its 37 branches X the so-called good bank part of the firm X to four domestic banks for a total of NT$31 ... CDIC will pay Yuanta -Commercial Bank (j) and Far Eastern International Bank (F) NT$19. (Taipei Times, Taiwan -- World)
Five institutions support Brong Ahafo golden jubilee Oct 28, 2009
The National Investment Bank, Ghana Commercial Bank and Agricultural Development Bank presented a cheque of GHC 5,000 each. Mr. Dan Michaelsen, General Manager, Environment and Social Responsibility of NGGL, expressed the company's appreciation for the cooperation between Newmont and Brong-Ahafo regional administration and the traditional authorities in its areas of operation. (Ghana Web, Ghana)
Tema oil refinery receives Nigerian crude Oct 27, 2009
The refinery owed Ghana Commercial Bank, its main creditor, a total of $600 million in addition to some $60 million it owed to other service providers, including oil companies. To help resolve the problem, the government appointed Pan-African bank Ecobank to help arrange a syndicated $600 million facility to refinance half of the debt owed to Ghana Commercial Bank and use the other $300 to strengthen the refinery's balance sheet. (Ghana Web, Ghana)
Eximbank Shares Rise After Listing $1.4 Billion of Stock in Vietnam Record Oct 27, 2009
The rally in the VN Index this year has prompted Joint- Stock Commercial Bank for Foreign Trade of Vietnam, or , and Bank for Industry & Trade, or Vietinbank, to start trading their shares. Prior to these listings, the only bank that traded on Vietnams biggest exchange was Saigon Thuong Tin Commercial Joint-Stock Bank, known as Sacombank. (Bloomberg -- Asia)
Blueprint: Volunteer opportunities, calendar Oct 26, 2009
Crawford Commercial Bank employees sort through the donations received for their "Support Our Troops" program ... Commercial Bank collected enough items to allow them to send care packages to more than 60 soldiers. (Athens Banner-Herald)
U.S., DPRK officials meet in New York Oct 25, 2009
The latest U.S. sanctions against Pyongyang targeted the Amroggang Development Bank, which was controlled by the DPRK's Tanchon Commercial Bank, an institution blacklisted and sanctioned by Washington. PYONGYANG, Oct. 24 (Xinhua) -- The Democratic People's Republic of Korea (DPRK) said the U.S.-South Korean Security Consultative Meeting was "full of the smell of gunpowder," being "ill-intentioned behavior to obstruct the melioration of the inter-Korean relationship," the official newspaper... (Xinhuanet, China)
