| Kenya: Top Dog Bank to Be Determined By Network Size
Ongoing branch network expansion will determine the winner of the war for dominance in Kenya's banking sector, a new industry report indicates. The report published by ThinkBusiness, a financial consultancy and publishing firm, says interest rates-based competition is being steadily relegated to the back banner by the quest for a wider reach and bigger customer base. .
Banks missing opportunities to better serve small business - CFIB
Despite saying it wants to increase service to small- and mid-size business, Canada's banking sector is making little progress, the latest research from CFIB shows. Banking Matters reveals dwindling satisfaction with major financial institutions, with only two improving their rating since the previous survey in 2003. "Since the late 1980s fewer and fewer small business owners have applied for bank financing," CFIB President Catherine Swift explains. Small business loan activity has remained fairly stable since 1988 while loan activity for larger businesses has increased significantly. "This trend shows the banks may be missing opportunities for growth with the small business sector that accounts for 45 per cent of the Canadian economy," Swift says. "You have to question whether banks are meeting the borrowing needs of small businesses." CFIB asked members to rank their financial institution on nine performance indicators, including lending terms, service charges, access to full-service branch, online banking and treatment by their account manager.
Completion of Barret Banking School will earn six credit hours toward MBA at ASU
The College of Business at Arkansas State University in Jonesboro has entered into an agreement with the Paul W. Barret School of Banking in Memphis to award six credit hours toward the master of business administration degree to individuals who complete the Barret Banking School program. Harold Perrin, who serves on the McAdams Frierson Chair of Bank Management Advisory Board at ASU, was instrumental in bringing the two institutions together. Perrin is also a former member of the ASU Board of Trustees and a faculty member at the Barret School of Banking. Chris Kelley, executive director for the Barret Banking School, stated that this agreement will provide recruiting benefits for both institutions. Dr. David Kern, who serves as McAdams Frierson Chair of Bank Management at ASU, added that "this agreement provides an excellent opportunity for bankers in our region who want to pursue an MBA degree.
Roger Suihkonen retires after 34 years in the banking business
VIRGINIA � When Roger Suihkonen graduated from college he never saw himself working in a bank. Yet, 34 years in the banking business later, Suihkonen, Wells Fargo District Community Bank President, is set to retire at the end of November with no regrets. �All the decisions I�ve made, if I had to do it all over again I�d do it the same way,� Suihkonen said. �It�s been a great ride.� Suihkonen, who has been president since 1985, starting working in Virginia at what would eventually become Wells Fargo � in the same Chestnut Street Building that houses the bank today � in 1974. After graduating from college in 1971 with a degree in mathematics and physics, Suihkonen said he was considering a career in computers or the applied science arena.
Oritani Financial Corp. (MHC) to acquire Greater Community Bancorp
WASHINGTON TWP, N.J. and TOTOWA, N.J.--(BUSINESS WIRE)--Kevin J. Lynch, Chairman, President and CEO of Oritani Financial Corp. (MHC) (“Oritani") (NASDAQ: ORIT ) the holding company for Oritani Savings Bank, announced that it has entered into a Merger Agreement providing for the acquisition of Greater Community Bancorp (“Greater Community") (NASDAQ: GFLS ) by Oritani. Greater Community is the holding company for Greater Community Bank. Under the terms of the Merger Agreement, Greater Community shareholders will be entitled to receive $21.40 per share or $187 million in aggregate deal value. The consideration mix will be 60% stock and 40% cash. The exchange ratio for the stock consideration will equal $21.40 divided by the Oritani market value as defined in the Merger Agreement, provided that the exchange ratio shall not be more than 1.4588 or less than 1.1935.
Wachovia boosts small-business offerings
Wachovia Corp. is expanding its online product offerings to include electronic deposits and bad-check recovery. The Charlotte-based bank says the service will provide small businesses with cash-management services comparable to those available to most large businesses. With online deposits, small-business owners can scan paper checks from their desktops and electronically send the images to Wachovia for deposit. Wachovia says the Internet-based application eliminates the need for software installation. To qualify, customers must have been in business for at least one year and have a Wachovia deposit account. In addition, Wachovia (NYSE:WB) has hired Federal Automated Recovery Systems, a subsidiary of Infinity Business Group Inc., to manage the electronic re-presentment of checks that have been returned for insufficient funds.
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China's finance, outsourcing, trade revolution: open society, investment, stock market job
China's great opportunities and challenges: How to manage a rising Chinese finance and economy? How to do investing, banking, trade, outsourcing, education, management, marketing, consulting work inside China, Taiwan, Japan, Hong Kong, India? Get personal advice and knowledge from provocative strategist George Zhibin Gu inside China. timely and provocative book: China�s Global Reach Borderless Business, National Competition, Politics, and Globalization (book excerpts) by George Zhibin Gu Afterword China, United States and Global Development by Andre Gunder Frank Chapter 6. All International Business Players are important Today China is the biggest new frontier for international companies. In many ways, the Chinese market has more an international flavor than many other markets around the globe.
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