Societe Generale becomes second French bank to repay emergency government funding earlyOctober 6th, 2009 SocGen to raise euro4.8 billion to pay state loansPARIS — Societe Generale SA on Tuesday became the second French bank to say it is launching a rights issue to repay emergency funding from the French government early. SocGen, France's second largest bank, said in a statement it wants to raise euro4.8 billion ($7.02 billion), of which it intends to pay back euro3.4 billion to the government.
RBC Bank, US subsidiary of Royal Bank of Canada, says CEO Scott Custer to retireOctober 1st, 2009 CEO of NC-based RBC Bank to retire next monthRALEIGH, N.C. — The chief executive of North Carolina-based RBC Bank is retiring.
Bank of America names Holliday director, passes resolution to cut board size to 15 directorsSeptember 21st, 2009 Bank of America appoints new directorCHARLOTTE, N.C. — Bank of America Corp.
Sarkozy weighs into debate over banker bonuses after BNP Paribas compensation sparks angerAugust 7th, 2009 Banker bonus sparks anger in FrancePARIS — French President Nicolas Sarkozy wants to meet with leaders at BNP Paribas SA, his office said Friday, after a report that the bank had earmarked euro1 billion ($1.44 billion) in extra compensation sparked populist anger. Sarkozy hopes to meet with the bank's leaders Aug.
Top SocGen executive resigns after financial market watchdog starts investigationAugust 6th, 2009 Top SocGen executive resignsPARIS — A top executive of Societe Generale SA whose career was damaged by a multibillion dollar trading scandal that rocked the bank has resigned after financial regulators opened an insider trading inquiry against him, the bank said Thursday. The bank said in a statement that both Jean-Pierre Mustier, who most recently headed assets management, and Robert Day, a non-executive director at the bank who is also a target of the probe, reject allegations of insider trading.
Top exec at French bank SocGen resigns after financial market watchdog starts investigationAugust 6th, 2009 Top executive at French bank SocGen resignsPARIS — Societe Generale SA says that a top executive whose career was damaged by the French bank's multibillion dollar trading scandal last year has resigned. Jean-Pierre Mustier is the former head of corporate and investment banking and one-time boss of disgraced trader Jerome Kerviel.
French bank Societe Generale 2nd quarter net profit falls by half on higher writedownsAugust 5th, 2009 Societe Generale 2Q net profit down by halfPARIS — Societe Generale SA said Wednesday its net profit fell 52 percent in the second quarter as the French bank wrote down its derivatives holdings and suffered increased losses on bad loans. France's second largest bank reported net profit of €309 million ($445 million) for the three months ended June 30, down from €644 million a year earlier.
French bank BNP Paribas 2nd quarter net profit up 6.6 percent to euro1.6BAugust 4th, 2009 BNP Paribas Q2 net profit up 6.6 percentPARIS — French bank BNP Paribas said Tuesday its net profit rose 6.6 percent in the second quarter as its retail and investment banking divisons succeeded in attracting new business amid the continued global economic downturn. The Paris-based bank reported net profit of euro1.6 billion ($2.3 billion) in the three months ended June 30, up from euro1.5 billion a year earlier.
Interest rates to increase after Diwali: State Bank chiefJuly 13th, 2009 KOLKATA - The country's largest lender, State Bank of India (SBI), says interest rates charged by banks will go up by 25 to 100 basis points after Diwali, a top company official said here Monday. "If there is huge amount of credit growth, which I believe would happen with economic growth picking up, the interest rates will go up," said SBI chairman O.P.
State Bank to raise interest rates after DiwaliJuly 13th, 2009 KOLKATA - The country's largest lender, State Bank of India (SBI), will raise interest rates by 25 to 100 basis points after Diwali, a top company official said here Monday. "If there is huge amount of credit growth, which I believe would happen with economic growth picking up, the interest rates will go up," said SBI Chairman O.P.
French bank Societe Generale expects 'slightly positive' Q2 income after Q1 lossJuly 6th, 2009 Societe Generale expects profit in 2nd quarterPARIS — Societe Generale, France's second-largest bank, said Monday that its second quarter net income will be "slightly positive" thanks to its corporate and investment banking units. The bank said its overall net income will be hit by a euro1.3 billion ($1.82 billion) writedown from credit default swaps and debt instruments.
Bank of America Directors Tommy Franks, Joseph Prueher resignJune 20th, 2009 2 more Bank of America Directors resignNEW YORK — Two more directors have resigned from Bank of America Corp.'s board, according to a securities filing Friday. The Charlotte, N.C.-based company said in a Securities and Exchange Commission filing that Joseph Prueher and Tommy Franks left on Wednesday.
2 more directors, Jackie Ward and Patricia Mitchell, resign from BofA's embattled boardJune 9th, 2009 2 more directors leave Bank of America's boardNEW YORK — Two more Bank of America Corp. directors are leaving, the company said Monday.
Societe Generale loses euro278M in first quarter after new writedowns on US real estateMay 8th, 2009 French bank Societe Generale posts 1Q lossPARIS — French bank Societe Generale said Thursday it returned to a loss in the first quarter after the further devaluation of its U.S. real estate-linked assets caused it to take nearly euro2 billion ($2.7 billion) in new writedowns and provisions.
Societe Generale chairman to quitApril 29th, 2009 PARIS - Daniel Bouton, chairman of the French bank Societe Generale, was to quit following criticism over risky investments and massive losses, the Le Figaro newspaper said Wednesday. Bouton said he handed in his resignation 'to protect the bank', the paper reported.
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