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Real Estate News Releases
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(EMAILWIRE.COM, August 13, 2008 ) Las Vegas, NV - There is an estimated 1,200 billionaires worldwide. 2007- 2008 marks the explosion of bank buyouts. In 7/08 www.wsj.com reported on 2 Russian billionaires that own or are buying shares in banks. One is a 36-year old Belarus-born math whiz who founded MDM Bank, one of Russia's largest banks. The other has been buying into 3% of Deutsche Bank AG and parts of Morgan Stanley and Credit Suisse Group and Royal Bank of Scotland and Belgian-Dutch Fortis NV. There are 74 Russian billionaires and 13 of those are under the age of 40.
This year, Middle Eastern and Asian sovereign wealth funds have funded an estimated $23B in UBS and Merrill Lynch and Citigroup. In 7/08, the NY Times reported that French-based Credit Mutuel paid $7.7B for the German banking operations of Citigroup. Credit Mutuel has 340 branches and 3.3M customers in Germany. Citigroup has cut 19,000 jobs to date in 2008 and suffered from over $40B in write downs.
In late 2007, US billionaire Warren Buffett and UK billionaire Richard Branson were potential bidders for British-North Rock Bank. In 7/08, UK billionaire Sean Quinn bought 15% of Anglo Irish Bank. In 6/08, investors from Japan and Qatar invested $3.4B in Barclays Bank. Two other existing investors are from Singapore and China Development Bank.
Dutch-bank ING Group and HSBC have acquired a combined 40% stake in the Bank of Beijing; which is the host city of the 2008 Summer Olympics. Bank of America had previously bought 9% of China Construction Bank and in turn has been bought by overseas investors. In late 2007, ICBC of China bought 20% of Standard Bank, South Africa's largest lender. In 5/08, Macau billionaire Stanley Ho invested in 49% of a Mozambican bank.
In 7/08 a Polish billionaire has announced plans to launch a mobile bank. A current Polish-based integrated mobile banking platform provider is www.eleader.eu, which was funded in part by the European Regional Development Fund and was featured at a trade show in Las Vegas. Current mobile banking platforms include www.mfoundry.com, which has been invested in by an arm of Bank of America.
The national bank M&A activity in the summer of 2008 has been busy. In 6/08, the Philadelphia-based Republic First Bancorp had 9.9% of its stock acquired by investors formerly with Commerce Bancorp, who was sold for $8.5B. In 7/08, Pasadena-based Indymac bank valued at $32B was seized. In 8/08, Sun Trust Bank bought out 1st Priority Bank in Bradenton, Florida.
On the 21st of July, 08, the www.lvbusinesspress.com reported that First National Bank of Nevada was seeking $200M in capital infusion. On the 25th, www.cnn.com reported that the 99-year old Mutual of Omaha Bank had bought out the 25-branches of First National Bank of Nevada. This is the 5th bank failure and the largest in Nevada history. It is also the 7th FDIC-insured bank to shut down in 2008. Mutual of Omaha is primarily an insurance company that only entered the banking sector in 1/07. It also acquired First Heritage Bank in Newport Beach, California.
A Texas regional bank with an eye on the Hispanic market is on the hunt for investors. Plans are to offer SBA & ITIN mortgage loans. Another Texas bank already raised $14M in 5/07 from a private equity firm that invests in companies "serving both US-based and cross-border Hispanic markets". A new limited private investment fund is beginning to market its fund to regional banks offering commercial real estate loans.
This report was researched & edited by Las Vegas-based investor relations multi-media communications firm www.GlobalCrossroadsCapital.com. We raise capital for public or private companies, as well as municipalities. Consider us the convergence of Bloomberg TV / WSJ.com / and the LasVegasMoneyShow.com. See our mobile blog pages at www.GlobalCrossroadsCapital.wirenode.mobi from your cell phone. Feel free to add yourself to our world visitor map on the homepage. Opt-in to our mobile text/viral casting alerts; notifying you when new direct capital sources get added to our website and when FREE rebates for Palm Treo's will be soon be available.
About Global Crossroads Capital
Global Crossroads Capital ( www.globalcrossroadscapital.com ) provides services in the following areas: financier, fiduciary intermediary, investment bankers, IBC's , institutional equity, export working capital, MTN's, CD's, asset-based funding, SBLC's, stated-asset commercial mortgages, EXIM Bank, T-bills, REIT's, corporate sponsorship financing, endowment grants, angel tech investor groups, pink sheets, shells, lease revenue bonds, corporate bonds, distressed hedge funding, exchange traded funds (1031's), Wall Street, mergers & acquisition financing, ETF's, TV syndication financing, PERE, film financing, BG's, balance sheet collateralized enhancement financing and much more.
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Contact:
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Tel: 702-369-2621
investorrelations@financier.com
www.globalcrossroadscapital.com
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Global Crossroads Capital
Jeffrey Allen, CEO
702-369-2621
investorrelations@financier.com 
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