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Abigail Hofman:

Abigail Hofman:

I wonder if ______ is an extremely optimistic person or in a cocoon of senior management denial

The US treasury market reaches breaking point

The US treasury market reaches breaking point

The structural issue that could cause the world's market of last resort to grind to a halt

Wednesday, July 2, 2008

Belgian KBC completes acquisition of Istrobanka.





Belgian KBC completes acquisition of Istrobanka. Belgian KBC finalized the acquisition of Slovak Istrobanka after the transaction was approved by Slovak anti-monopoly authorities and the National Bank of Slovakia (NBS), CSOB spokeswoman Zuzana Francuzova informed. CSOB is also controlled by KBC and the two banks were set to start a merger process in the beginning of next year. KBC group head, Andre Bergen, underlined that the merged bank would hold a 10% share of the market and would thus be the fourth largest bank in the country. As of end-2007, CSOB is also the fourth largest bank in terms of total asset volume while Istrobanka is tenth. KBC announced it would acquire an 100% stake in Istrobanka in March this year, paying EUR 350mn for the stake.







The Fitch approach is good. They are now a serious player, and best for covered bonds

So says a German Pfandbrief specialist. Well, as Fitch is maintaining triple-A ratings, while Moody’s makes severe downgrades, he would say that wouldn’t he?

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