Consortium banks

Consortium banks

A merchant banking subsidiary set up by several banks that may or may not be of the same nationality. Consortium banks are common in the Euromarket and are active in loan syndication.

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.
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The investigation showed that Sandip Jhunjhunwala was engaged in arranging false purchase/sales of invoices of rice and paddy through brokers/dealers of Delhi for availing maximum working capital limits from the consortium banks and diverted working limits for capital expenditure.
Chinese and Pakistani consortium banks led by China Development Bank and Habib Bank joined the deal after inking a series of financing agreements.
BANKING AND CREDIT NEWS-October 4, 2018--We.trade partners with three former Batavia consortium banks
M2 EQUITYBITES-October 4, 2018--We.trade partners with three former Batavia consortium banks
Global Banking News-October 4, 2018--We.trade partners with three former Batavia consortium banks
"The entire sale proceeds were not allegedly routed through the dealing branches of consortium banks," added the complaint.
Tenders are invited for 1) all plant and machinery, other moveables etc., hypothecated/pledged to consortium banks lying in the premises of house no.1-8-663, on plot no.21/2, situated at azamabad industrial area, azamabad, hyderabad 2.commercial unit door no.
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.
In coordination with the consortium banks of the syndicated loan, up to 80 million EUR may be distributed as a dividend for the rump fiscal year 2010.
Nippon Export and Investment Insurance (NEXI), an Export Credit Agency owned by the Japanese government, will provide Overseas United Loan Insurance (Investment and Loan Insurance for Natural Resources and Energy) which covers the loan granted by the consortium banks. Based on the additional financing agreement and associated documents, the consortium banks will provide additional loan of US$1.4 billion.
The RBS consortium banks say fewer jobs will be lost with their offer than the one from Barclays.

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