“U.S. Bank Chooses DebtX's Syndication Platform - PR Newswire” plus 4 more |
- U.S. Bank Chooses DebtX's Syndication Platform - PR Newswire
- UPDATE 1-Bank of Cyprus H1 net profit falls 39 percent - Reuters
- Gateway Bank Announces Nicholson Promoted to Raleigh City Executive - MSN Money
- Bank servicer's upgrade rewards - Australian IT
- Ally Bank Expands Ten-Day Best Rate Guarantee to Renewing CDs - PR Newswire
| U.S. Bank Chooses DebtX's Syndication Platform - PR Newswire Posted: 31 Aug 2009 07:04 AM PDT
BOSTON, Aug. 31 /PRNewswire/ -- DebtX announced today that U.S. Bank, the sixth largest commercial bank in the United States, is now using DXSyndicate for its loan syndication and agency functions. "DXSyndicate provides U.S. Bank with a comprehensive solution that enabled the bank to consolidate two different systems," said Jeanne Rudelius, Head of U.S. Bank's Loan Capital Markets. "We invested significant resources searching for the right platform and believe DXSyndicate provides a solution the marketplace has sorely needed, but has lacked until now." DXSyndicate integrates investor contact management, deal tracking, management reporting and secure document distribution in a single, Web-based platform. "DXSyndicate is rapidly becoming an industry standard in the syndicated loan space," said DebtX CEO Kingsley Greenland. "We are pleased U.S. Bank chose to work with DebtX after extensive due diligence and review of alternative solutions in the marketplace." In addition to U.S. Bank, Wells Fargo and Union Bank are using DXSyndicate to improve collaboration between the syndication and agency functions. For more information about DXSyndicate, contact Bill Huschle, 617-531-3408, whuschle@debtx.com. About DebtX DebtX is one of the world's leading full-service loan sale advisors for commercial, consumer and specialty finance debt. DebtX operates the world's largest and most liquid online marketplace for loans, with more than 6,000 registered and approved investors and more than 300 selling institutions, including commercial banks, insurance companies, investment banks and government-sponsored enterprises. DebtX also offers DXMark(R), the first objective valuation of commercial real estate portfolios based on actual secondary market loan sales. DXOpen(R) is a family of deal management products used by syndication and agency services professionals. DebtX is based in Boston, with U.S. offices in Atlanta, New York, and San Francisco, and European offices in London, Madrid and Frankfurt. For information, call 617-531-3400 or visit www.debtx.com. SOURCE The Debt Exchange, Inc. Website: http://www.debtx.com  This posting includes an audio/video/photo media file: Download Now |
| UPDATE 1-Bank of Cyprus H1 net profit falls 39 percent - Reuters Posted: 31 Aug 2009 08:02 AM PDT (Adds detail) NICOSIA, Aug 31 (Reuters) - Bank of Cyprus BOC.CY (BOCr.AT), Cyprus's largest lender, posted a 39 percent fall in first-half net profit, weighed by higher costs and slower loan growth, and said it was sticking to full-year guidance. The bank said on Monday it stuck to guidance of 300-400 million euros ($429-$573 million) net profit for 2009. Bank of Cyprus reported net first-half profit of 148 million euros. Net interest income grew 1.0 percent to 388 million euros, while pretax profit fell 44 percent to 161 million. Quarter on quarter, the bank increased net earnings 34 percent to 85 million euros in the three months to June. On a quarterly basis, second-quarter net interest income rose 14 percent to 207 million euros, a sign of more normal conditions in deposit markets, the bank said. The bank said it was taking measures to offset the negative impact of the financial crisis. "Such measures include repricing of selected loan and deposit products and services, management of non performing loans, increase in non-interest income, cost containment and prudent expansion of the group in the new markets which offer higher margins," it said. The bank said there was a small increase in loans and deposits, reflecting weak demand for lending. There was a 1.0 percent increase in loans and a 2.0 percent increase in deposits in the year to June. Bank of Cyprus operates in Cyprus, Greece, Russia, Ukraine, Australia, Romania and Britain. (Reporting by Michele Kambas; Editing by Dan Lalor) ($1 = 0.6998 euro)  This posting includes an audio/video/photo media file: Download Now |
| Gateway Bank Announces Nicholson Promoted to Raleigh City Executive - MSN Money Posted: 31 Aug 2009 08:30 AM PDT NORFOLK, Va., Aug. 31, 2009 (GLOBE NEWSWIRE) -- Hampton Roads Bankshares, Inc. (Nasdaq:HMPR) is pleased to announce that Jeff Nicholson has been promoted to Gateway Bank's Raleigh City Executive. Nicholson joined Gateway Bank in 2008 as Chief Risk Manager. During his extensive banking career, he has served in various roles including commercial lender, city executive, and area executive. His experience includes regional strategic planning, oversight of regional budgets, and sales and commercial campaign management. Eddie Campbell, Triangle Regional President of Gateway Bank stated, "We are very pleased that Jeff Nicholson is now our Raleigh City Executive. Jeff has a strong background in banking, and the skill set to lead the Raleigh team to the next level-he will do a great job." About Hampton Roads Bankshares Hampton Roads Bankshares, Inc. is a financial holding company that was formed in 2001 and is headquartered in Norfolk, Virginia. The Company's primary subsidiaries are Bank of Hampton Roads, which opened for business in 1987, and Shore Bank, which opened in 1961. The Banks engage in general community and commercial banking business, targeting the needs of individuals and small to medium-sized businesses. Currently, Bank of Hampton Roads operates thirty banking offices in the Hampton Roads region of southeastern Virginia and twenty-four offices in Virginia and North Carolina doing business as Gateway Bank & Trust Co. Shore Bank serves the Eastern Shore of Maryland and Virginia through eight banking offices and fifteen ATMs. Through various affiliates, the Banks also offer mortgage banking services, insurance, title insurance and investment products. Shares of the Company's common stock are traded on the NASDAQ Global Select Market under the symbol HMPR. Additional information about the Company and its subsidiaries can be found at www.hamptonroadsbanksharesinc.com. Certain statements in this report may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts. Although the Company believes that its expectations with respect to certain forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors. For an explanation of the risks and uncertainties associated with forward-looking statements, please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2008, and other reports filed and furnished to the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements made in this press release and this release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such solicitation would be unlawful. CONTACT: Hampton Roads Bankshares, Inc. Tiffany K. Glenn, Executive Vice President, Investor Relations Officer (757) 217-1000 GlobeNewswire, Inc.2009  This posting includes an audio/video/photo media file: Download Now |
| Bank servicer's upgrade rewards - Australian IT Posted: 31 Aug 2009 08:02 AM PDT WHEN wholesale and transactional banking services provider Cuscal started looking for an answer to its severe operational problems, it assessed more than 100 possible solutions. It investigated everything from low-end, easy-fix type tools to high-end, industrial-strength packages. "We needed a contemporary, specialised project management system that would allow us to co-ordinate all of our project management activities and record those activities in the one central database and location," Cuscal portfolio manager Charles Lassiter says. "We spent a lot of time and effort assessing the solutions and the support that would be available for them." Cuscal is based in Sydney and offers financial services -- wholesale and transactional services -- predominantly to credit unions but also building societies and smaller banks. They include CUA, IMB building society and AMP Bank. The company has offices in Melbourne and Brisbane but the majority of its almost 300 staff is in Sydney. Cuscal's project-related systems, processes and data were numerous and labour-intensive. It needed a system to remedy operational reporting inefficiencies, costs associated with the maintenance and support of 24 redundant systems, management of utilisation and productivity rates and training and contract labour costs. In April 2007, Cuscal opted for Planview portfolio software for project prioritisation and resource planning. Lassiter says Planview has the most flexible configuration. That meant Cuscal could customise the application to match its existing processes and operations without too much change. The project was rolled out in April last year. "We had a number of Microsoft Excel and Word tools that we had evolved over the years and which required constant maintenance," Lassiter says. "With Office 2007 now being the norm in business, we are finding that we have got quite a lot of complexity in upgrading our Office 2000 version of some of these documents into 2007. "What we have done is avoided a large number of those older version documents by removing them completely from our suite of administrative material and replacing it with a Planview system." Working documents were spread across multiple directories and multiple locations were not easily shareable and accessible to the project teams. This made for a lot of manual collation whenever information was required for management reporting and audits. The technology has been rolled out to the IT and project management staff, which totals about 70. Lassiter says the company invested about $250,000 on the project, including internal and external costs. The payback period was estimated at less than two years with a return-on-investment of more than 160 per cent. Cuscal has now replaced 25 standalone systems and tools such as timesheet entry, project management, resource management and portfolio management with one. It has also seen a 90 per cent cost reduction for managing and maintaining redundant IT management systems. Its contract labour costs have been reduced by an estimated 20 per cent, with a $200,000 a year drop in personnel costs. Lassiter says project manager productivity has increased by 30 per cent, while reporting costs have decreased by 90 per cent. Monthly reports are now automated and faster to produce and there is a newfound consistency in managing risks and issues with high-quality, shared information. "On the cost-saving side, we have been able to redeploy management to actually analyse the information rather than spend probably on average five to six days per month collating from various different sites and documents in order to achieve a reportable set of data," he says. |
| Ally Bank Expands Ten-Day Best Rate Guarantee to Renewing CDs - PR Newswire Posted: 31 Aug 2009 07:04 AM PDT MIDVALE, Utah, Aug. 31 /PRNewswire/ -- Customers with Ally Bank certificates of deposit (CDs) coming up for renewal can rest easy knowing that they will get the best rate Ally offers for 10 days from the maturity date, the company announced today. "We have been offering Ally's Ten-Day Best Rate Guarantee for new CD deposits, and are now expanding the policy to customers who renew their CDs," said Diane Morais, executive of Deposits and Product Innovation. "Our customers will get the best rate we offer at maturity or for nine days thereafter. This reduces the angst for people who are worried about getting a great rate the day their CD matures. It's one of the steps we are taking to do what's right for the customer." Ally Bank is a U.S. online bank offering online savings accounts, money market savings accounts, and CDs ranging from three-month to five-year terms. Ally Bank challenges traditional banks by offering:
Customers with questions about new or renewing CDs can contact an Ally Bank customer service representative around the clock at 1-877-247-ALLY or visit www.ally.com. Ally Bank is Member FDIC. Contact: Sue Mallino 313-656-6970 SOURCE Ally Bank Website: http://www.ally.com  This posting includes an audio/video/photo media file: Download Now |
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