Chase details community lending program
Article Abstract:
Chase Manhattan Corp., a banking institution, has issued more than $5 billion in loans to low-income, moderate-income individual clients as well as community investments in 1997, a marked improvement from loans and investments amounting to $4.82 billion made in 1996. The bank has expressed optimism that it can post another record year in loans and community investments in 1998, if the level of interest rates remain favorable. The loan program is part of a five-year pledge made by the company as a precondition for the approval of its merger with Chemical Banking Corp.
Comment:
Has issued more than $5 billion in loans & community investments in 1997, from $4.82 billion in 1996
Publication Name: News Journal
Subject: Business, general
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
BankAmerica vows record loans
Article Abstract:
BankAmerica Corp., together with NationsBank Corp., intends to give out $350 billion in loans to low-income as well as moderate-income individual clients and business enterprises within the next ten years. The loan program, which is contingent on the approval of the two firm's merger by October 1998, will be implemented in 22 states where the two banks maintain operations. BankAmerica Corp. intends to merge with NationsBank Corp. for $57.2 billion to form a new entity carrying the BankAmerica trade name.
Comment:
To give out $350 billion in loans to low-income, moderate-income individual clients & businesses in 10 years
Publication Name: News Journal
Subject: Business, general
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Bank of New York pulls bid for Mellon
Article Abstract:
Pittsburgh, PA-based, Mellon Bank Corp.'s planned acquisition by Bank of New York Co. has been cancelled. The cancellation of the proposed purchase comes after Bank of New York set aside its unsolicited takeover offer for Mellon. The move was spurred by Mellon's refusal to meet with Bank of New York officials to discuss the possible acquisition. Bank of New York has offered to pay 1.4 shares of its own stock for each share of Mellon Bank stock, which was valued at $90 per share on April 22, 1998.
Comment:
Cancels its puchase offer for Mellon Bank Corp due to its refusal to discuss proposed deal
Publication Name: News Journal
Subject: Business, general
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Qantas takes a knife to retail commissions. New world of goodies for the long haul. Turbulence theory in flight accidents
- Abstracts: Critics contend U.S. policy on the Internet has 2 big flaws. Control of domain names draws alternative proposal; planning the Internet's final privatization
- Abstracts: The story of a failed merger proves to be a page turner. Motorola is said to seek lead in cable convergence. Lucent expected to acquire Ascend for about $19.3 billion
- Abstracts: Mazda narrows loss and projects profit in spite of weak auto markets in Asia. Toyota to export its hybrid autos beginning in 2000
- Abstracts: Radio concern Chancellor Media agrees to buy Martin Media for $610 million. Hearst-Argyle to buy broadcast unit from Pulitzer for $1.15 billion in stock