National Bank posts record profit

Article Abstract:

National Bank of Canada has posted a a record profit of C$104 million or 57 cents a share in the 3rd qtr of FY ended July 31, 1999, up by 6% from C$98 million in the year-ago period. The growth has been attributed to its lower quarterly tax payments. On the other hand, Laurentian Bank of Canada saw its profits declining by 28% to C$12 million on revenues of C$107.3 million during the period because of thin profit margins and higher expenditures.

United States, Sales, profits & dividends, National Bank of Canada

---

CIBC to inject $300-million in U.S. bank

Article Abstract:

Canadian Imperial Bank of Commerce (CIBC) intends to invest $300 mil in startup capital for its planned electronic bank, tentatively named Columbus First National Bank to be headquartered in Orlando, FL. CIBC's filings with the Washington-based Office of the Comptroller of the Currency stated that the proposed bank intends to issue 50 mil 'no par' shares and an additional 30 mil shares at $10 per share.

Foreign operations, Organizational history, Florida, Columbus First National Bank

---

Similar abstracts:

• Abstracts: Impatient P&G ousts Jager. GE posts record profit; Welch sets retirement date. From emperor to outcast
• Abstracts: Suncor posts record profit. Oil firms post record profit. Soaring Imperial profit fails to impress
• Abstracts: Nortel reshapes joint venture for high-speed Net services. Nortel, JDS vow to fight patent case
• Abstracts: Canada 3000 snaps up CanJet in all-stock deal. Bombardier endures jet controversy. CHC Helicopters catches a lift on higher oil price
• Abstracts: WTO backs Canada in jet market dogfight with Brazil. Ottawa plots slow, painless death for auto pact. WTO sets auto pact deadline

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.