Faced with low interest rates and intense competition for consumer deposits and loans from financial giants, regional banks may rush to merge this year to keep pace with larger rivals
New York .
So says Dick Bove, chief financial strategist at Odeon Capital and a veteran bank industry analyst, who tells CNN Business that this year could be the biggest for bank mergers since 1998.Already big banks may need to get even largerIn that year alone, Wells Fargo bought Norwest, NationsBank acquired Bank of America ; and Citibank and Travelers merged to form Citigroup .
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JP Morgan Chase is set to report fourth-quarter earnings – here's what the Street expectsJ.P. Morgan, the biggest U.S. bank by assets, is the first major lender to report earnings.
Read more »
JP Morgan beats analysts' estimate for fourth-quarter profit on record Wall Street revenueJ.P. Morgan, the biggest U.S. bank by assets, is the first major lender to report earnings.
Read more »
JP Morgan beats analysts' estimates as bond trading revenue surges by nearly 90%J.P. Morgan Chase beat analysts’ expectations for Q4 earnings, with profit rising to $2.57 a share vs. the estimated $2.35. Managed revenue climbed 9% to $29.2 billion, compared with the $27.94 billion estimate.
Read more »
Where the Music Business Is Going in 2020New year, new controversies. We preview the headlines of the biggest stories in the music industry in 2020
Read more »
CNN Will Cough Up a Record $76M to Settle Labor DisputeThis sum is the biggest in the federal National Labor Relations Board’s 85-year history, adding up to more than what the agency collects in a typical year.
Read more »
NFL Playoffs: 49ers Victory Over Vikings Was Most-Watched Late Saturday Game In Four YearsNBC’s broadcast of the San Francisco 49ers’ 27-10 victory over the Minnesota Vikings Saturday in the NFC Divisional Playoff averaged 29.3 million TV-only viewers – ranking as the most-watched late …
Read more »