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AUSTRALIA: BOS DROPS STAKE SALE MOVE

Article Abstract:

Bank of Scotland's (BoS) planned sale of its 55% stake in Bank of Western Australia has been shelved after the failure of efforts by the UK bank to obtain a buyer. BoS would have gleaned more than GB[pound] 600mn from the sale, with the proceeds being devoted to Internet-related ventures. BoS's move follows the withdrawal of BNP Paribas of France and Australian insurance group, Colonial, from the bidding.

Publisher: Financial Times Ltd.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
Australia, Strategy & planning, Planning, Bank of Scotland, Bank of Western Australia Ltd.

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US: INFOBANK EXPANDS IN US

Article Abstract:

Infobank, the -based business-to-business software group, has been active in the US market, resulting in two new deals. Infobank has reached an agreement with Vitals986, which will see Vitals986 using Infobank's InTrade e-hub software to support an online medical grouping offering medical practices a paperless office. A separate deal has been struck with Latinobank.com, an online banking venture, to establish an electronic trading hub for 1.3mn Latino-owned businesses in the US.

Publisher: Financial Times Ltd.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
United States, General services, On-Line Information Services, Videotex & Teletext, Telegraph & other communications, Online services, Internet services, Online information services, Infobank, Vitals986

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UK: ONE IN THREE UNHAPPY WITH THEIR BANK

Article Abstract:

A survey high-street bank customers found that two-thirds were unhappy at the service provided. The report by the consumers association found most members of Barclays, HSBC, Lloyds TSB and NatWest would not choose the same bank again but thought it too difficult to switch to a new provider. High street bank customers were unhappy at overdraft charges, the level of interest paid on savings, general service and administrative mistakes. By contrast customers of the newest telephone and Internet banks were mostly satisfied. Some 70% of customers of First Direct People were happy. The banking industry should therefore make it easier for people to change their banking providers to improve competition.

Publisher: Financial Times Ltd.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
United Kingdom, Marketing procedures, Reports, Brief Article

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Subjects list: Banking industry, Commercial banks, Retail banking, Bank clearinghouses
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