Sovereign Bancorp, the Philadelphia-based bank in which Grupo Santander of Spain has a 25 per cent stake, said it expected to take a $1.6bn writedown in the fourth quarter based on higher customer loan defaults and the decline in value of its investment in a New York savings and loan institution.
46831
Sovereign Bancorp to take $1.6bn writedown
137854
Sberbank may issue up to $1.5 billion Eurobond
62750
Banca Nationala a Romaniei holds interest rate at 6.25%
73863
S&p lowered its long and short-term sovereign credit ratings on Slovenia
153789
Euro zone to leverage bailout fund 'several fold'
54296
Bank of England ready to print money
140262
UK can have soft landing from credit crunch
142633
Scb to raise $1.6 billion
88440
FirstBank contributes more than $4.2 million
167292
Bank shares take hit on Irish Stock Exchange
79952
Spain plans partial takeover of banks
153928
Capital One to sell $1.25 billion in stock
83704
Strategists warn of sovereign debt bubble
140682
Four banks join 18.5 bln euro Gas nat syndicate
70000
US Treasury to borrow $350 billion
167405
Bank shares plunge as funding issues persist
39504
M&T Bank and Santander could be close to merger