National City Said To Eye Keycorp

Tunick, Britt Erica
January 2005
Investment Dealers' Digest;1/31/2005, Vol. 71 Issue 4, p6
Trade Publication
The article focuses on the speculated acquisition of KeyCorp. by National City Corp. after having acquired three smaller banks in 2004. The parent companny of the National City Bank, the ninth-largest bank in the U.S. ranked by assets, is on the prowl for acquisition targets and has brought on Lehman Brothers to help with its hunt. The bank is actively looking to bulk up its business, particularly as the pace of consolidation among Midwest banks is on the rise. As interest rates rise and the mortgage business begins to slow, unless National City can grow through on acquisition, it is poised to experience negative earnings growth at the end of 2005.


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