National Bank posts record profit
Article Abstract:
National Bank of Canada has posted a a record profit of C$104 million or 57 cents a share in the 3rd qtr of FY ended July 31, 1999, up by 6% from C$98 million in the year-ago period. The growth has been attributed to its lower quarterly tax payments. On the other hand, Laurentian Bank of Canada saw its profits declining by 28% to C$12 million on revenues of C$107.3 million during the period because of thin profit margins and higher expenditures.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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CIBC to inject $300-million in U.S. bank
Article Abstract:
Canadian Imperial Bank of Commerce (CIBC) intends to invest $300 mil in startup capital for its planned electronic bank, tentatively named Columbus First National Bank to be headquartered in Orlando, FL. CIBC's filings with the Washington-based Office of the Comptroller of the Currency stated that the proposed bank intends to issue 50 mil 'no par' shares and an additional 30 mil shares at $10 per share.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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