Europe's largest lender, may make acquisitions in the United States and has no plans to pull out of that market despite the subprime mortgage woes, a newspaper reported on Wednesday.
"We may consider acquiring banks linked to Spanish and Asian communities," the South China Morning Post quoted the lender's chief executive, Michael Geoghegan, as saying.
"This will not be a large regional bank."
Geoghegan said the lender would continue to pursue the consumer finance business in the U.S. and expand its portfolio, and would also increase investment in fast-growing, emerging markets in Asia and Latin America.
The bank had taken measures to address the subprime problem by way of business restructuring, tightening mortgage underwriting criteria, and reducing assets through sales and write downs, he added.
Read Complete Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment