Word: citibanker
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...named the Chase-Manhattan Bank, Morgan Guaranty, Citibank, Merrill-Lynch and Bankers' Trust as members of the Atomic Industrial Forum, a nuclear power lobby. These corporations own more than 70 per cent of the stock in utilities now building nuclear reactors, he said...
...Europe and Japan. But instead of achieving steady growth, Zaïre became a textbook example of how a Third World nation can dig itself into an economic hole. Today the country is all but bankrupt; it has fallen badly behind in repaying its debts. Manhattan's Citibank and other creditor banks have agreed to arrange a new $250 million loan, but first they imposed tough conditions under which Mobutu will in effect be forced to control his country's economy strictly, under the eyes of experts at the International Monetary Fund...
...Citibank Senior Vice President Irving S. Friedman concedes that Western banks are paying more attention to the potential risks in lending to countries like Zaïre, yet he adds, "All developing countries need access to capital." Perhaps so-but from now on they may find the loans much harder...
...service loan-seeking Communists, several American banks have opened offices in Eastern Europe. Bank of America, Citibank and Chase Manhattan have all gone into Moscow. Manufacturers Hanover Trust has an office in Bucharest, and First National Bank of Chicago has one in Warsaw. The business has been lucrative. Commissions and miscellaneous fees can add up to $2 million on a $200 million loan-and that does not count later collections of interest. In addition, Communist countries have a good record of paying debts promptly. Says one American banker: "There is a lot of merit in lending to a stable, centralized...
...express discreet concern about Comecon's mounting pile of debt. The Basel-based Bank for International Settlements has noted that the ratio of debts to exports -which determines a country's ability to repay loans-has reached a high level in some Communist countries. Bank of America, Citibank, Chase Manhattan and Manufacturers Hanover all conspicuously took no part in a recent $250 million loan to the Soviet Union's Foreign Trade Bank. Some Western banks are also trying to raise interest rates charged to Communist borrowers. They had been tacking a 1.25-percentage-point premium onto whatever...