Banks

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Bank Of Queensland Ltd settles all remaining storm financial proceedings

Sunday, 21 Sep 2014 07:23pm EDT

Bank Of Queensland Ltd:Reaches agreement to settle proceedings brought against it by Australian Securities & Investment Commission (ASIC) and class action on behalf of borrowers advised by Storm Financial.Subject to Federal Court approval, settlement concludes both of outstanding Storm Financial proceedings against BOQ.These are ASIC's unregistered managed investment scheme proceedings, which commenced in the Federal Court of Australia in Dec. 2010 and class action which commenced in Dec. 2012.Gross payment by BOQ to settle ASIC’s proceedings and class action is $19.7 mln, with $17 million of this to be paid to BOQ customers.Net impact after tax to BOQ will be $22.1 mln, which includes all legal costs and an additional provision for remediation costs.

Faisal Islamic Bank of Egypt SAE approves establishment of a new company

Saturday, 20 Sep 2014 08:00pm EDT

Faisal Islamic Bank of Egypt SAE:Says that its board of directors has approved the establishment of a new company under the name of "Faisal Securities" with a paid up capital of 10 million Egyptian pounds.Says the company's share in the new company is 80 percent.

Gunma Bank Ltd raises consolidated mid-year and full-year outlook for FY 2015

Friday, 19 Sep 2014 02:30am EDT

Gunma Bank Ltd:Says the company increased the consolidated mid-year outlook for ordinary profit to 20,000 million yen from 16,000 million yen for the FY ending March 2015.Net profit forecast increased to 13,700 million yen from 10,500 million yen.Earnings per share increased to 29.47 yen from 22.60 yen.Says the company increased the consolidated full-year outlook for ordinary profit to 34,000 million yen from 31,000 million yen for the FY ending March 2015.Net profit forecast increased to 22,000 million yen from 20,000 million yen.Earnings per share increased to 47.33 yen from 43.05 yen.FY 2015 revenues of 127.10 billion yen, reported net profit of 20.30 billion yen – Thomson Reuters I/B/E/S.Comments the reduced credit costs is the main reason for the forecast.

AFFIN Holdings Bhd proposes acquisition of entire equity interest in AIIM

Thursday, 18 Sep 2014 08:00pm EDT

AFFIN Holdings Bhd:Says Affin Hwang Asset Management Berhad (Affin Hwang AM) has, on Sept. 19 entered into the shares sale and purchase agreement for the acquisition of 51 pct interest in Asian Islamic Investment Management Sdn Bhd (AIIM) from Nikko Asset Management Asia Limited.Says total cash consideration is 11,730,000 ringgit to be satisfied in cash.Also enters into shares sale and purchase agreement for acquisition of 49 pct interest in AIIM from Affin Hwang Investment Bank Berhad for 11,270,000 ringgit to be satisfied in cash.Affin Hwang AM is a 70 pct subsidiary of Affin Hwang IB, which is in turn a wholly-owned subsidiary of AFFIN.AIIM is a 49 pct associate company of Affin Hwang IB.

WSFS Financial Corp increases dividend by 25 pct and authorizes 5 pct stock repurchase plan

Thursday, 18 Sep 2014 04:26pm EDT

WSFS Financial Corp:Approves quarterly cash dividend of $0.15 per common share payable on Nov. 21, 2014 to shareholders of record as of Nov. 7, 2014.Represents an increase of $0.03 per common share from the second quarter 2014 dividend of $0.12 per share, or a 25 pct increase.Authorizes stock repurchase program of up to 5 pct of total outstanding shares of common stock, or about 470,000 shares.

Washington Trust Bancorp Inc increases dividend

Thursday, 18 Sep 2014 12:29pm EDT

Washington Trust Bancorp Inc:Declares quarterly dividend of 32 cents per share for the quarter ending Sept. 30.This represents three-cent increase over the dividend paid in the previous quarter.Payable Oct. 15 to shareholders of record on Oct. 01.

Hudson City Bancorp Inc appoints Anthony J. Fabiano as president

Thursday, 18 Sep 2014 08:00am EDT

Hudson City Bancorp Inc:Says Anthony J. Fabiano has been appointed president and chief operating officer of the company and its wholly-owned subsidiary, Hudson City Savings Bank.Fabiano succeeds Denis J. Salamone.Fabiano was also elected a director of both the company and the bank board of directors, effective immediately.

Hudson City Bancorp appoints Denis J. Salamone as Chairman

Thursday, 18 Sep 2014 07:00am EDT

Hudson City Bancorp Inc:Appoints Denis J. Salamone to serve as the Chairman effective immediately.Salamone succeeds Ronald E. Hermance, Jr. who passed away on Sept. 11.

Share of Pohjola Bank Plc to be delisted from Nasdaq OMX Helsinki

Thursday, 18 Sep 2014 06:21am EDT

Pohjola Bank plc:Says on the basis of the Finnish Companies Act, the right and duty of a majority shareholder to redeem the shares held by other shareholders in Pohjola Bank exists.Says the company's A share will be delisted from NASDAQ OMX Helsinki when the ownership of all A shares of Pohjola Bank plc has been transferred to the redeemer in the redemption process.

Development Bank of Japan Inc issues government guaranteed bond

Thursday, 18 Sep 2014 05:56am EDT

Development Bank of Japan Inc:Says issuance of 6-year bond for the amount of 40 billion yen.Says payment date Sept. 29, 2014.Says coupon rate 0.176 pct.Says underwriters are Mitsubishi UFJ Morgan Stanley Securities Co., Ltd, Mizuho Securities Co., Ltd. SMBC Nikko Securities Inc, Tokai Tokyo Securities Co., Ltd, Daiwa Securities Co. Ltd. Nomura Securities Co., Ltd.

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