Relevant:
- Bank Of America Scrambles To Shore Up Capital: In Negotiations To Sell $17 Billion China Construction Bank Stake
- National City drops pants for $7 billion in liquidity
- National City Pays Customers To Cancel Credit Lines
- National City Home Equity says it suspends loan approvals
- Santander Seeks to Raise Capital With Sale of Stake in Brazilian Unit
2008-09-16 — blownmortgage.com
``National City Bank got the OK to raise $7 billion in an equity sale that will increase outstanding shares more than three-fold in a move to shore up it’s balance sheet. Investors watching their shares diluted had little choice but to approve the equity sale to keep the bank solvent in the midst of the credit crunch.''
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Comments:
mortgage man2 at 21:53 2008-09-16 said:
This is old news. They raised this money months ago....they are now one of the best, if not the best, capitalized large bank in the US. Permalinkadd a comment | go to forum thread
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