Thursday, November 20, 2008

Citigroup JP Morgan and Capital One Bid for Chevy Chase

Citigroup Inc, JPMorgan Chase & Co and Capital One Financial Corp are among the final bidders for Chevy Chase Bank.

Chevy Chase has $11.4 billion of deposits and 292 branches, according to the Federal Deposit Insurance Corp website. Though the asset side of the bank is not very attractive, the deposit side is incredibly valuable because it is in Washington, D.C.

No comments: