In 2011, Comerica acquired Houston, Texas-based Sterling Bancshares, Inc., strengthening its franchise in the Lone Star State. The acquisition virtually tripled Comerica's market share in Houston, provided it entry into the attractive San Antonio and Kerrville regions, and complemented its banking center network in Dallas/Fort Worth, while adding about $5 billion in assets, $2 billion in loans and $4 billion in deposits on the closing date of July 28, 2011. Later in 2011, Comerica successfully completed systems conversions so that former Sterling customers can bank at any Comerica banking center and have full access to Comerica's full line of products and services.
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Financial News
Rating agency Moody's downgrades 16 Spanish banks - 18.05.2012 Rating agency Moody's downgraded 16 Spanish banks on Thursday, the latest sign of distress in Europe. Among those downgraded were giants Banco Santander and BBVA, the country's two largest banks. Source: CNNMoney
Middle East's Leading Banking Technology & Innovation Summit to be held in Dubai - 07.05.2012 Following on from the success of the 2011 Middle East Banking Technology & Innovation Summit, Expotrade announces that this year’s event will once again take place in Dubai on the 1-2 October 2012. This year’s conference will focus on strengthening the Middle Eastern banking and financial industry’s position within the global market. Source: Expotrade
More than 2.5 billion people around the world don’t have a bank account - 23.04.2012 Three quarters of the world’s poor don’t have a bank account, not only because of poverty, but the cost, travel distance and amount of paper work involved in opening an account, according to new data released by the World Bank. Source: World Bank
No breakthrough in Swiss-US tax dispute despite talks - 22.04.2012 Talks between senior U.S. and Swiss officials about a dispute over unpaid taxes on accounts held in Swiss banks led to no breakthroughs, Swiss President Eveline Widmer-Schlumpf said on Saturday. Source: Reuters
Western Union to launch innovative payments platform WU Pay - 22.03.2012 The Western Union Company, a leader in global payment services, today announced that it will launch WU Pay, a new and innovative electronic payments platform that will significantly improve the customer experience and safety for millions of people seeking to make online payments or transfer money. Source: Western Union
U.S. Banks Complete Stress Tests - 14.03.2012 The majority of the largest banks will continue to have enough capital to satisfy regulators, even if they suffer a financial shock that includes unemployment hitting 13 percent and a 21 percent drop in housing prices, the Federal Reserve said on Tuesday. Source: Reuters
In 2011, Comerica acquired Houston, Texas-based Sterling Bancshares, Inc., strengthening its franchise in the Lone Star State. The acquisition virtually tripled Comerica's market share in Houston, provided it entry into the attractive San Antonio and Kerrville regions, and complemented its banking center network in Dallas/Fort Worth, while adding about $5 billion in assets, $2 billion in loans and $4 billion in deposits on the closing date of July 28, 2011. Later in 2011, Comerica successfully completed systems conversions so that former Sterling customers can bank at any Comerica banking center and have full access to Comerica's full line of products and services.
