Consortium Bank

Consortium Bank

A subsidiary bank owned by several different banks. Each owner bank has an equal share so that no bank is the majority shareholder. The owner banks are often in different countries. A consortium bank is created to finance a specific project; once the project is complete, the consortium bank dissolves itself. While they are not as common as they once were, they are useful when a project involves multiple currencies.
Mentioned in ?
References in periodicals archive ?
Notes to EditorsArab Banking Corporation ("ABC") is a consortium bank owned by Kuwait, Abu Dhabi and Libyan government agencies.
Reynolds career also includes serving as Vice President and international representative for Banque de la Societe Financiere Europeenne, a large European consortium bank based in Paris, France; Manager in charge of Corporate Research for the London branch of Morgan Guaranty Trust Co.
As the first EuroFX consortium bank to offer a fully-automated electronic channel for EuroFX deals, LBBW expects its unique service to be attractive to customers in the region and in German-speaking countries abroad.
ACON Aktienbank AG is the consortium bank and designated sponsor.
Proving the existence of collateral for credit or financial guarantee or the deposit of a sum of money NGO Estonian Library Network consortium bank account number 10022055199002, SEB Bank, IBAN EE691010022055199002.
The consortium banks are Bankhaus Lampe and Citigroup.
AbdulRazak Ali Issa, Chief Executive of Bank Muscat, thanked the consortium banks for the successful financial closure of $725 million syndicated facility for Shadeed Iron & Steel LLC.
The consortium banks are Bank of Tokyo Mitsubishi UFJ, Mizuho Bank, Sumitomo Mitsui Banking Corp Europe, Sumitomo Mitsui Trust Bank, Mitsubishi UFJ Trust and Banking Corp, Shinsei Bank, Development Bank of Japan and Standard Chartered Bank.
Based on the additional financing agreement and associated documents, the consortium banks will provide additional loan of US$1.
The RBS consortium banks say fewer jobs will be lost with their offer than the one from Barclays.
In general, he finds that strategic alliances allow the ability to balance markets and intra-firm transaction extremes; "Clubs and Consortium Banks and Bankassurance lifecycles" allow an early entry into a business area with later commitment; strategic alliances add value of different degrees and of different duration in a range of geographical, industry, and firm contexts; and strategic alliances allow reduction in the cost of capital, the sharing of risks, access to knowledge capital and resources, and help in accessing product or geographical markets and distribution channels.
This facility will be secured by unconditional and irrevocable financial guarantee of GoP and a LoU in favour of consortium banks would be issued by Ministry of Finance.

Full browser ?