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Bank Failures Continue

Mon, 31 Aug 2009 14:09:00 GMT

Three more U.S. banks failed; tally reaches 84 this year Bank failures continue unabated as U.S. regulators on Friday closed down three more banks in California, Maryland and Minnesota. This takes the total number of failed federally insured banks this year to 84, compared to 25 in 2008 and 3 in 2007. The failed banks were Ventura, California-based Affinity Bank, with about $1 billion in assets and $922 million in deposits; Baltimore-based Bradford Bank, with $452 million in assets and $383 million in deposits; and Forest Lake, Minnesota-based Mainstreet Bank, with $459 million in assets and $434 million in deposits.[More...]

Non-U.S. Banks - May 13 2009 9:38AM

Wed, 13 May 2009 13:40:00 GMT

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing. Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook. That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more attractive investments, similar to what we[More...]

Non-US Banks - Mar 6 2009 6:46PM

Fri, 06 Mar 2009 22:40:00 GMT

As in the US, non-US bank stocks continue on a downward trend this year due to the financial problems that began in the US subprime mortgage market and spread globally to engulf many major financial institutions in most countries. The median year-to-date stock price decline for non-US banks in the Zacks universe is 27.1%, compared to a loss of 21.1% for the S&P 500. This includes median price declines for non-US banks in the Zacks universe of 47.6% in Europe, 29.7% in Asia, and 14.6% in Latin America. In response to the global financial crisis, governments have taken dramatic action to forestall the possibility of global meltdown. These rescue efforts include: Australia - guarantee of all bank deposits for three years and will guarantee all wholesale funding to Australian banks for five years Brazil - reduction in reserve[More...]

Spain's Recession to Hit BBV

Mon, 09 Feb 2009 15:19:00 GMT

We are continuing our Sell rating on Banco Bilbao Vizcaya Argentaria, S.A., or BBVA (BBV), and cutting our target price to $9. Our Sell recommendation largely reflects the grim economic outlook in Spain. The recent collapse in housing and construction, which propelled economic growth for the last decade, is expected to stall for the next few years. Moreover, the IMF recently forecast that Spain will enter a recession in 2009 (its first since 1993) and believes that Spain will be harder hit than other European countries. In its 4th quarter report, BBVA posted net earnings before nonrecurring items of ?1.1 billion, down 24% from the ?1.4 billion earned in the comparable 2007 period, and below our estimate due to lower trading revenues[More...]

Non-US Banks - Jan 14 2009 6:27PM

Wed, 14 Jan 2009 22:21:00 GMT

As in the US, non-US bank stocks continue on a downward trend this year due to the financial problems that began in the US subprime mortgage market and spread globally to engulf many major financial institutions in most countries. The median year-to-date stock price decline for non-US bank in the Zacks universe is 2.4%, compared to a loss of 3.5% for the S&P 500. This includes median price declines for non-US banks in the Zacks universe of 6.1% in Europe, 3.9% in Asia, and 0.4% in Latin America. In response to the global financial crisis, governments have taken dramatic action to forestall the possibility of global meltdown. These rescue efforts include: Australia - guarantee of all bank deposits for three years and will guarantee all wholesale funding to Australian banks for five years Brazil - reduction in reserve requirements for[More...]

Spain's Banks Facing Challenges

Mon, 12 Jan 2009 20:54:00 GMT

In this post, we cite the following companies: Banco Bilbao Vizcaya Argentaria, S.A. (BBV) and Banco Santander Central Hispano, S.A. (STD). Today, Standard & Poor's (S&P) added Spain's AAA bond rating to CreditWatch Negative due to economic weakness, confirming our view that Spain is facing significant challenges in the months ahead. Industrial output declined 15.1% year over year in November -- the biggest fall on record -- and 5.8% through the first 11 months of 2008. Spain has been particularly hard hit due to its reliance on construction -- particularly in housing -- and credit as the driving forces of the economy for last 14 years, both of which are now slumping. Spain also reported a steep rise in the unemployment rate to 12.8% in November, a 12-year high,[More...]

Non-U.S. Banks Hammered This Year

Thu, 04 Dec 2008 13:34:00 GMT

We expect stock prices to remain volatile and susceptible to headline risk. Moreover, depreciation of many foreign currencies relative to the US$ is depressing US$ stock prices. Combined with the grim economic outlook for many economies ranging from outright recession in developed economies to slowing growth in emerging market economies, we expect share price performance to continue to weaken. As in the US, non-US bank stocks have been hammered this year due to the financial problems that began in the US subprime mortgage market and spread globally to engulf many major financial institutions in most countries. The median stock price decline for non-US bank in the Zacks' universe is 57.5% compared to a loss of 42.1% for the S&P 500. This includes median price declines for non-US banks in the Zacks' universe of 76.5% in Europe, 59.3% in Asia, and 47.0% in Latin America. In response to the global financial crisis, governments have taken dramatic action to[More...]

Non-U.S. Banks - Dec 3 2008 1:18PM

Wed, 03 Dec 2008 17:13:00 GMT

How to Profit From the Emerging Markets Investment Banking Boom

Wed, 20 Aug 2008 22:44:00 GMT

By Martin Hutchinson Contributing Editor Emerging markets are the place for investment bankers to wheel and deal during the next couple of years, as bankers in Asia, the Middle East and Latin...[More...]

Daily Report for Thu, Jul 10, 2008

Thu, 10 Jul 2008 15:37:00 GMT

Short selling returned to the market yesterday, particularly in the Financials (XLF -5.7%), Tech (XLK -3.0%) and Industrials (XLI -2.8%). Utilities (XLU +1.2%) was the one winning sector of note. Earnings Season is shaping up to be a downer.[More...]

Kraft rounds up banks to help Cadbury bid

Tue, 24 Nov 2009 22:46:00 GMT

Nov. 24--(Dow Jones)--As rivals weigh whether to top Kraft Food Inc.'s GBP9.9 billion ($16.5 billion) offer for Cadbury PLC, they are confronting an unusual situation: Kraft has extracted exclusivity agreements from the banks it is using to finance its bid, leaving contenders with few other banks to choose from.
Northfield-based Kraft, which made a hostile offer for Cadbury on Nov. 9, is being advised by Lazard and has secured a GBP5.5 billion bridge loan from a group of nine banks lead by Citigroup Inc., Deutsche Bank AG and HSBC Holdings PLC and including BNP Paribas SA, Barclays Capital, Royal Bank of Scotland Group PLC as well as Credit Suisse, Societe Generale SA and Banco Bilbao Vizcaya Argentaria SA.
The lead banks have cast the net even further and the number of banks financing Kraft's bid could grow to 18, a person familiar with the matter said earlier this month.

: iStockAnalyst.com Symbols Feed

Bank Failures Continue

Non-U.S. Banks - May 13 2009 9:38AM

Non-US Banks - Mar 6 2009 6:46PM

Spain's Recession to Hit BBV

Non-US Banks - Jan 14 2009 6:27PM

Spain's Banks Facing Challenges

Non-U.S. Banks Hammered This Year

Non-U.S. Banks - Dec 3 2008 1:18PM

How to Profit From the Emerging Markets Investment Banking Boom

Daily Report for Thu, Jul 10, 2008

Kraft rounds up banks to help Cadbury bid

Regulators close banks in Colorado, Mich., Minn.

Regulators close banks in Colorado, Mich., Minn.

Regulators close banks in Colorado, Mich., Minn.

Regulators close banks in Michigan, Minnesota

Regulators Seize Two More Banks

Regulators shut down banks in Mo, Ill, Iowa

Regulators shut down bank in Missouri

Regulators shut banks in Calif, Md, Minn

Regulators shut banks in Calif, Md, Minn

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