Barclays and CIBC combine Caribbean efforts
Together create FirstCaribbean bank
- By: IE Staff
- October 31, 2001 October 31, 2001
- 09:35
Together create FirstCaribbean bank
“Fidelity Investments, cutting back in the stock-market swoon, said it would lay off 760 people, or about 2% of its work force,” writes John Hechinger…
Boosts offer to US$9.50 per share
Increases fourth quarter credit loss provisions
2002 will be a very profitable year
FATF meeting in Washington to address terrorist financing
Normand named president & CEO
Firm cites weak equity markets, September 11 events
Deterioration of loan quality presents concerns
Withdrew US$29.5 Billion
Firm offers cheap mortgage rates as incentive
Tech glitches halt ATMs, on-line and telephone banking
Recent offerings manage gains
Will boost credit loss provisions by $430 million
New account combines banking with investment services
Economy mired in a global, synchronized recession
Bank prepares switch to Schedule III status
Re-affirms profit forecast for 2001
No threat to credit ratings says S&P
Declining equity markets hurt entire industry says S&P
September survey shows investors shifting to bonds
Strategy used to boost earnings
Decline in revenues offset by cost controls
Foreigners purchase $7.8 billion worth of bonds in August
Outlook for "separate accounts" market is excellent