Reposition
Manufacturers Bank is now a wholly-owned subsidiary of SMBCAH and is referred to as “A Member of SMBC Group.” The Bank reported net income for the six months ended June 30, 2019 of $16.3 million, an increase of $4.3 million, or 35.8%, compared to $12.0 million for the same period in 2018. Manufacturers Bank focuses on relationships and offers: Deposit Services, Business Lending, Cash Management, Fiduciary Banking, International Trade Finance, Foreign Exchange, Franchise Lending, Quick Service Restaurant Lending, Truste & Estate, Non Profit, Treasury and Mobile Banking.
The People’s Bank of China held the 1-year loan prime rate at 3.1%, and the 5-year LPR at 3.6%, according to the PBOC statement. The PBOC has ramped up measures lately to avoid a sharp fall in the cur...
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