Printer Friendly

BANKING LEADERS OFFER OUTLOOK FOR 1992

 BANKING LEADERS OFFER OUTLOOK FOR 1992
 The Consumer Bankers Association (CBA) asked its board members


to predict banking trends in 1992, particularly industry consolidation and borrowing and saving, with advice for consumers with debt problems.
 For copies of the comments, call the contacts below.
 The respondents include:
 -- Jeffrey P. Neubert, CBA Chairman
 Senior Vice President
 Banc One Corporation
 Columbus, Ohio
 "Two broad and very different factors are driving today's consolidation activity. The first in a last-ditch effort to slash operating costs as a matter of survival. The second is the continuing run of acquisitions by well-capitalized banking companies expanding their franchises by acquiring other good banks. Consumers, contrary to the critics, will be well served by the resulting institutions."
 -- Douglas K. Freeman, CBA Chairman-Elect
 Chief Corporate Banking Officer
 Barnett Banks, Inc.
 Jacksonville, Fla.
 "Where leverage was the key word of the 1980s, de-leveraging has become the way of the 1990s. With interest rates on certificates of deposit at the lowest level in many years, many customers are choosing to pay off debt rather than add to savings."
 -- Richard A. Gaugh
 Vice Chairman
 Mellon Bank
 Pittsburgh
 "The recently passed banking bill clearly demonstrates the lack of sentiment for expanded powers and thus enhanced revenue opportunities. Given this environment, bankers increasingly will need to focus on those things they can directly influence, and cost structure is clearly one of them."
 -- Richard Hartnack
 Vice Chairman
 Union Bank
 Los Angeles
 "Frankly, I don't believe the average consumer will be affected much by consolidation. Occasionally, their local office closes; that is about as bad as it gets for the consumer. They have to drive all the way across the parking lot to the waiting arms of a surviving institution."
 -- H. Jay Sarles
 Executive Vice President
 Fleet/Norstar Financial Group
 Boston
 "The aggressive borrowing that consumers went through in the 1980s largely used up their appetite, and they are now in a digestion mode. It may take up to five years before we start to see consumers come back to the marketplace."
 -- Thomas E. Peterson
 Vice Chairman
 Bank Of America
 San Francisco
 -- David T. Fronek
 Executive Vice President
 INB National bank
 Indianapolis
 -- Edward Travaglianti
 President and Chief Operating Officer
 European American Bank
 Uniondale, N.Y.
 -- Kenneth M. Racette
 Director of Consumer Finance
 First National Bank of Boston
 Boston
 -- Edward Flick
 Senior Vice President
 Fulton Bank
 Lancaster, Pa.
 -- A. Jeanne Zak
 Senior Vice President
 U.S. Bank
 Portland, Ore.
 CONTACT: Fritz Elmendorf or Karin Chura of the Consumer Bankers Association, 703-276-1750.
 -0- 12/19/91


CO: Consumer Bankers Association ST: Virginia IN: FIN SU: FC -- NYBFNS7 -- 3680 12/19/91 07:17 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 19, 1991
Words:436
Previous Article:ECONOMIC REALITIES OF 1991 HELP RESHAPE TELECOMMUNICATIONS FIELD, SAYS INDUSTRY LEADER; SMALL, MID-SIZED BUSINESS SEGMENT SHOWS GROWTH
Next Article:BROOKTROUT ANNOUNCES RECORD SALES AND PROFITS FOR 1991
Topics:


Related Articles
FED PRESIDENT EXPECTS MODERATE GROWTH, LOWER INFLATION IN 1992
BARNETT ECONOMISTS PREDICT RECOVERY WILL CONTINUE, BUT SLOWLY, IN 1992
CHIEF ECONOMIST TO PRESENT ECONOMIC FORECAST AND INVESTMENT OUTLOOK FOR 1992; NEWS MEDIA INVITED
HUNTINGTON BUSINESS FORUM SERIES "ECONOMIC OUTLOOK FOR 93"
TRIANGLE BANCORP, INC. REPORTS RECORD EARNINGS
NBSC ANNOUNCES PLANS TO OPEN TWO OFFICES IN SPARTANBURG
Postipankki's Ratings Affirmed By S&P; Outlook Revised To Positive
S&P Affirms MPS's Ratings; Outlook to Positive
Bank of New Zealand NZ$100 Million Fixed-Rate Deposits Rated AA
Financial services firms report slow down.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters