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"The Wal-Mart of banking."

Authors :
Weiner, Steve
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.

Details

Language :
English
ISSN :
00156914
Volume :
147
Issue :
5
Database :
Complementary Index
Journal :
Forbes
Publication Type :
Periodical
Accession number :
9103043709