Word: chases
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...vigorous enough job on bank regulation." In the House, New York Democrat Benjamin S. Rosenthal, chairman of a Government operations subcommittee, will hold hearings this week on the adequacy of federal examinations of banks. He plans to call representatives of the comptroller's office, Citibank and Chase. At week's end the banks pro tested that federal regulations precluded their officers from testifying...
...loan-loss figures for 1975 will not be complete for a few weeks, those now available are striking. Citibank in December disclosed that it would write off a record $310 million in bad debts for 1975, considerably more than double the $116.9 million in gross loan losses in 1974. Chase in the first nine months of last year wrote off $209.7 million, v. $64.5 million in the same period a year earlier. San Francisco-based Bank of America, the biggest of all U.S. banks, wrote off only a relatively small $78 million in bad loans for the first nine months...
...backlog of dubious loans still carried on their books. The biggest losses are coming on loans to real estate investment trusts-companies that sprang up in the 1960s to get in on the building boom by financing builders of shopping centers, apartments and other commercial projects. Many banks, including Chase, organized their own REITS-a move that now seems to have been most unwise. As demand for commercial construction collapsed, many builders and property owners were forced into bankruptcy, and the REITS and the banks that they borrowed from were left holding the bag. Collectively the RElTs owe banks about...
...still increasing their earnings; Bank of America raised its profits in 1975 by 17%. Citibank's earnings for all 1975 will be up about 10%, but the bank recently disclosed that for the fourth quarter it will report its first decline from a year earlier since 1969. Chase in the third quarter reported earnings a stunning 56% below those for the 1974 period, and New York's Marine Midland, after clearing its books of $25 million in bad debts, expects to report an actual overall loss for the fourth quarter. Marine Midland will also reduce its dividend from...
...which is involved in mortgage banking, leasing and financial consulting, and runs 148 consumer-loan offices in 19 states through its Nationwide Financial Services Corp.) During the 1970s, Citibank has moved from third to second largest bank in the U.S. in terms of assets, elbowing past its traditional rival Chase. There are persistent rumors that some Chase directors are unhappy and would not be sorry to see Chairman Rockefeller leave-though there is no indication that he will. Wriston's reputation, in contrast, continues to grow even among bankers who are made nervous by his expansion-mindedness...