Archive for July 6th, 2010

HSBC Buys Central America’s Largest Bank

The British financial giant HSBC today agreed to buy Central America’s largest bank Banistmo for $1.7bn (£1bn) as it branches out into a new market.

Banistmo owns 99.39% of Panama’s largest bank, Primer Banco del Istmo, and has outlets in Costa Rica, Honduras, Colombia and Nicaragua.

HSBC will pay for cash for Banistmo, with Banistmo investors receiving $52.6 a share – a 25% premium on its closing price yesterday.

HSBC, the world’s third largest bank, said the acquisition will allow it to expand into a region of 83 million people, including Colombia, where large sections of the population do not have bank accounts.

“Banistmo will bring us significant market share and growth opportunities in all markets,” said Stephen Green, the group chairman of HSBC Holdings. “We have little overlap except in Panama, and we expect to benefit from the scale and knowledge that Banistmo brings from operating in the region.”

HSBC sees Latin and Central America as promising areas for expansion to offset slower growth in more markets in Europe, the US and Hong Kong.

The company, which already has a substantial presence in Mexico and Brazil, recently made acquisitions in Paraguay and Argentina, and is seeking permission to operate in Peru.

Banistmo last year had total assets of $6.9bn and shareholders’ funds of $695m. It made a profit after tax of $115m.

In March, HSBC reported the biggest profit ever by a British bank, making a pre-tax profit of £11.5bn in 2005, buoyed by new markets. HSBC, which describes itself “the world’s local bank”, has 129 million customers in 76 countries.

Tags: America's, Bank, Buys, Central, HSBC, Largest

Tuesday, July 6th, 2010 Grants No Comments

Scholarships and Grants for Moms Determined to Get Back into School

If you are a mom and you desire to further your education, you are to be congratulated! There are so many great opportunities available to you today! It’s great to know that under the new Obama administration, this will not have to be a stressful or frustrating time in your life.

If you decide to try for a scholarship or two, make sure you pick ones that are specifically for mothers. You will find that they will be easier to get and also will enable you to take opportunity of the new options for moms.

You now have many things to consider, especially what your career goals are. Should you go after your life-long dream? Or have things changed and now you have different goals and objectives? Look over some of the courses you will need to take for various degrees and that may help you decide.

Another thing to consider is what you are already able to do. Are you good in math? Writing? Do you have good social skills? So many questions to think about! However, these skills may help you get into the classes and programs you want.

One thing that should also be considered is the balance between what you desire to do and how much money you want to make. For example, some careers are appealing and yet they are not paying much these days. This is why you must research and make some sound decisions.

The idea behind these new scholarships and grants is that moms will not have to worry about money while answering these questions. You will be able to spend time taking care of your family, enjoying your new classes, and increasing your self-confidence!

Get the money you need for college today: Scholarships for Moms.

Tags: Back, Determined, Grants, Into, Moms, Scholarships, School

Tuesday, July 6th, 2010 Grants No Comments