Chase Manhattan
Article Abstract:
Chase Manhattan Bank is the biggest US bank and has assets of more than $300 billion. There are likely to be major cost savings from a merger with Chemical Bank, though there will also be one-off charges amounting to $1.7 billion. The bank controlled expenses well in 1st qtr 1996, while net earnings were up by almost a half. US banks face sluggish demand for loans as companies have developed cash reserves and consumers are less keen on taking on debt. Chase Manhattan is in a strong position in this difficult market.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Bull points for Lloyds
Article Abstract:
Lloyds TSB is a large UK bank which has been affected by weakness in the US bond market, but the group has a good growth record and has controlled costs well. UBS sees further group from the merger between Lloyds and TSB, while Merrill Lynch also sees a growth in business lending. Credit Lyonnais sees benefits from the merger. ABN AMRO notes that Cheltenham and Gloucester has low costs and is increasing its market share. SBC Warburg forecasts a pre-tax profit of 2,464 million pounds sterling for 1996.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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