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On 9 August 2011, Capital One Financial Corp. agreed to acquire HSBC's U.S. credit card business for $2.6 billion, [75] netting HSBC Holdings an estimated after-tax profit of $2.4 billion. [76] In September it was announced that HSBC sought to sell its general insurance business for around $1 billion. [77]
On August 10, 2011, Capital One Financial Corp announced that it will buy the U.S. credit card arm of Britain's HSBC for a premium of about US$2.6 billion as a way to expand its domestic credit card business. [12] [13] The acquisition includes the HSBC unit's approximately US$30 billion credit card portfolio.
It was known for a wide range of services from savings to insurance and, through its wholly owned subsidiary Equitable Card Network, was the largest Philippine credit card issuer. The bank merged with Banco de Oro Universal Bank in early 2007, and is now branded as BDO as its new identity as part of the new Banco de Oro Unibank, Inc.
HSBC is pulling back from its credit card business in China eight years after its launch, as the lender struggled to expand and make the enterprise profitable in the world's second-largest economy ...
Unlike most countries, theater chains in the Philippines in general are managed solely by mall owners in their respective leisure divisions rather than being outsourced by other companies. The only exception is the Ortigas Cinemas in Estancia, where SM Prime co-manages the cinema component as the former owns a stake in developer Ortigas & Company.
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This page was last edited on 21 December 2024, at 18:09 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
BancNet was founded on July 17, 1990, as the Philippines' second ATM consortium when the ATMs of eight banks, PCI Bank (later Equitable PCI Bank, now Banco de Oro), Security Bank, Chinabank, RCBC, Allied Bank (now part of PNB), Metrobank, International Exchange Bank (now part of UnionBank) and CityTrust Banking Corp. (now part of BPI) formed BancNet.