Entries tagged "Chevy Chase Bank"
So Capital One Financial Corp. acquired Chevy Chase Bank FSB for nearly $520 million Thursday. Citigroup Inc. reportedly was one of several potential acquirers for the Maryland-based lender, but in the end was left out in the cold. The news that Citigroup was pushed aside isn't shocking considering its recent bailout, which has renewed pressures on Citigroup CEO Vikram Pandit (pictured) to slim down the firm rather than to expand it. ...
Earlier in the week, Dealscape speculated that should troubled U.K. bank the Royal Bank of Scotland Group plc sell its U.S. retail banking business, Citizens Financial Group, Capital One Financial Corp. would be a natural fit. McLean, Va.-based Capital One was flush with $3.5 billion from a U.S. Treasury capital injection via the Troubled Asset Relief Plan, and additional deposits could help the firm ride out the recession, which will undoubtedly batter its credit card business. A Citizens purchase also made sense geographically. The logic was half right. Capital One was on the prowl, and it just opted for...
Citigroup Inc. is reportedly in the hunt for Chevy Chase Bank, but is it possible that the recent meltdown in its stock price could keep it out of the running? With Citigroup under siege, other bidders for Chevy Chase are apparently lining up. ...
That's right. Citigroup Inc. is in talks to buy Chevy Chase Bank FSB, but it is not alone in its interest for the troubled Bethesda, Md.-based regional bank, according to The Wall Street Journal. But, does it matter? And will it help the troubled giant?...
