Credit-card firm eludes Bank Leumi

Article Abstract:

This article discusses the failure of Bank Leumi to take over Israel Credit Card Ltd. The Israeli bank had owned the credit card company jointly with Israel Discount Bank. Bank Leumi has thus lost 900,000 credit card customers and is now planing to set up a new credit card company.

Israel, Bank Leumi le-Israel B.M., Israel Discount Bank Ltd., Israel Credit Cards Ltd.

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Standard Chartered to buy a chase business

Article Abstract:

Standard Chartered PLC has reached an agreement to acquire Chase Manhattan Corp.'s Hong Kong credit card and retail banking units for US$1.32 billion (1.47 billion euros). Standard beat out several other Asian banks for the units.

United Kingdom, Foreign operations, Hong Kong, Chase Manhattan Corp., CMB, Standard Chartered PLC

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First Capital, First USA in credit-card deal

Article Abstract:

First USA, the credit card unit of Bank One Corp., will acquire almost half of the $4.5 billion Visa and MasterCard portfolio of General Electric Co.'s Capital Services subsidiary. The deal includes a $2.6 billion joint venture between GE Capital and First USA. Industry analysts have said that the merger is part of a recent wave of consolidation, which has transformed the credit card markets by creating a handful of dominant businesses. GE Capital, which has been withdrawing from bank-backed credit cards, will receive more than $220 million from First USA.

ELECTRONIC & OTHER ELECTRIC EQUIPMENT, Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Electrical equipment and supplies industry, Electric equipment industry, Banks (Finance), MasterCard International Inc., Bank One Corp., General Electric Co., GE, ONE, First USA Bank, Visa Inc., General Electric Capital Services Inc.

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