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Thema: Business- und Bankenglisch

In diesem Thema sind folgende Beiträge:

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16. Okt 2008   

Net Loss From Continuing Operations of $3.4 Billion, Loss per Share of $0.71,
Primarily Due to Fixed Income Write-Downs and Higher Consumer Credit Costs

Progress on Lowering Expenses, Headcount and Legacy Assets

Citigroup Inc. today reported a net loss for the 2008 third quarter of $2.8 billion, or $0.60 per share, based on 5,342 million shares outstanding. Results included $4.4 billion in net pre-tax write-downs in Securities and Banking, $4.9 billion in net credit losses, and a $3.9 billion net charge to increase loan loss reserves.

Highlights

* Net interest revenue up 13% and net interest margin up 79 basis points versus the third quarter 2007.
* Lower write-downs in Securities and Banking for the third consecutive quarter.
* Total expenses declined for the third consecutive quarter, down $1.2 billion since the second quarter 2008.
* Headcount reduced by approximately 11,000 since the second quarter 2008 and approximately 23,000 in the first nine months of 2008.
* Retail and corporate deposits in the U.S. increased 6% versus second quarter 2008 and 11% versus third quarter 2007.
* Total assets declined by $50 billion since second quarter 2008 and by $308 billion since third quarter 2007.
* Legacy assets declined by approximately $48 billion since second quarter 2008.
* Capital strength maintained with Tier 1 Capital ratio at 8.2%.
* Closed sale of CitiStreet; announced sale of Citi Global Services Limited; sale of the German retail banking operations on track for the fourth quarter.

Verfasst von  A.Schuetz

    weiterlesen... 'Citi Reports Third Quarter Net Loss of $2.8 Billion, Loss per Share of $0.60'

05. Okt 2008   

Fortis announces that the Belgian government has acquired the remaining share (50% + one share) of Fortis Bank SA/NV. The Belgian government has reached an agreement with BNP Paribas on the subsequent transfer of a majority interest in Fortis Bank SA/NV. Furthermore, Fortis announces that BNP Paribas will acquire 100% of Fortis Insurance Belgium. Last night, the Fortis Board of Directors has approved these transactions.

'As a result of this transaction, the Fortis Group is exiting the banking business and the Belgian insurance business,' comments Fortis CEO Filip Dierckx. 'Given the extremely difficult market environment, the integration of Fortis Bank and Fortis Insurance Belgium into a truly leading European financial company is in the best interest of all stakeholders.'

Details of the transaction

# Today, the Belgian state has bought the remaining 50% + one share of Fortis Bank from Fortis SA/NV for a total consideration of EUR 4.7 billion in cash;
# A portfolio of structured products with fair value of EUR 10.4 billion is transferred by Fortis Bank to a separately managed entity jointly owned by the Fortis Group (66%), the Belgian State (24%) and BNP Paribas (10%).
# The Belgian government has reached an agreement with BNP Paribas on the subsequent transfer of 75% of Fortis Bank SA/NV; the Belgian State will continue to own the remaining 25% of the company.
# BNP Paribas will acquire 100% of Fortis Insurance Belgium for a total consideration of EUR 5.73 billion in cash, subject to final closing adjustment.


Impact on Fortis Group of the transactions of 3 and 5 October

Verfasst von  A.Schuetz

    weiterlesen... 'Fortis confirms sale of Banking and Belgian Insurance activities'

02. Okt 2008   

Dutch Government acquires Fortis Bank Nederland (Holding) N.V., including Fortis' interest ABN AMRO Holding N.V., and the Dutch Insurance activities

# Government of the Netherlands acquired Fortis Bank Nederland (Holding) N.V. including the participation in RFS Holdings B.V. that represents the acquired activities of ABN AMRO, Fortis Verzekeringen Nederland N.V., and Fortis Corporate Insurance N.V.
# Total consideration of EUR 16.8 billion
# The Dutch Central Bank has approved the transaction
# After this transaction, Fortis Group entails Fortis Insurance Belgium, Fortis Insurance International and the banking activities excluding Fortis Bank Nederland (Holding) N.V.

The Government of the Netherlands has acquired Fortis Bank Nederland (Holding) N.V., including the participation in RFS Holdings, that represents the acquired ABN AMRO activities, Fortis Verzekeringen Nederland N.V., and Fortis Corporate Insurance N.V. for a total consideration of EUR 16.8 billion.

The transaction replaces the previously announced investment of EUR 4 billion in Fortis Bank Nederland Holding N.V..

We also refer to the press release issued by the Government of the Netherlands.

Further details about the transaction will be provided in due course.

Verfasst von  A.Schuetz

    

16. Sep 2008   

ING announced today that, in light of the exceptional turbulence in global financial markets, it wants to inform its stakeholders that the total direct impact of Lehman Brothers' Chapter 11 filing on ING's profit and loss account is estimated to be around EUR 100 million on a pre-tax basis:

# The gross lending and bond exposure is approximately EUR 200 million. Taking into account hedges and collateral, the expected impact of these positions on the pre-tax P&L is around EUR 40 million.

# ING is currently executing an orderly settlement of transactions and is in the process of replacing derivative positions. ING estimates the impact of these actions at around EUR 60 million on the pre-tax P&L, based on current market prices.

Verfasst von  A.Schuetz

    

10. Jun 2008   

A targeted acquisition which allows one of Europe's leading Corporate and
Investment banks to reinforce its global leadership in Equity Derivatives.

Paris, New York. BNP Paribas is pleased to announce it has signed a
definitive agreement to acquire the equity prime brokerage business of Bank
of America. The transaction is subject to regulatory approval with
completion expected in the second half of 2008. The transaction will
involve the transfer of client relationships, employees and technology
systems.

Bank of America's equity prime brokerage business provides a wide range of
services to hedge funds including secured financing, securities settlement,
custody, capital introduction, securities lending, leading-edge technology
and custom IT solutions. It is a low risk, low capital consumption, service
oriented business. With 13 years of successful

Verfasst von  A.Schuetz

    weiterlesen... 'BNP Paribas acquires Bank Of America's equity Prime Brokerage Business and becomes a leading Prime Broker in the USA'

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