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"The Wal-Mart of banking."
- Source :
- Forbes; 3/4/1991, Vol. 147 Issue 5, p62-65, 2p, 1 Color Photograph, 1 Black and White Photograph
- Publication Year :
- 1991
-
Abstract
- The article presents information on the bank Norwest Corp. Norwest's assets rose nearly $7 billion during 1990, and will climb at least another $6 billion in 1991 with completion of the $500 million acquisition of United Banks of Colorado. Norwest has not made a non-guaranteed Third World loan since 1984, and it was the second big bank to take a major charge to cover LDC debt--a $204 million provision in 1987. Norwest hedges risk at every turn. When a technology client sought $11 million in trade finance for a deal in China, Norwest organized a consortium of banks but lent not a penny of its own money.
- Subjects :
- BANKING industry
ASSETS (Accounting)
CORPORATE finance
MERGERS & acquisitions
LOANS
Subjects
Details
- Language :
- English
- ISSN :
- 00156914
- Volume :
- 147
- Issue :
- 5
- Database :
- Complementary Index
- Journal :
- Forbes
- Publication Type :
- Periodical
- Accession number :
- 9103043709