March 11, 2013 at 09:00 AM EDT
Foreign Banks Benefit from Streamlining Efforts, Improving Economy - Research Report on Barclays, Itau Unibanco Holding, Credit Suisse Group, HSBC Holdings and Banco Santander

NEW YORK, March 11, 2013 /PRNewswire/ --

Today, Investors Alliance announced new research reports highlighting Barclays PLC (NYSE:BCS), Itau Unibanco Holding SA (NYSE:ITUB), Credit Suisse Group AG (NYSE:CS), HSBC Holdings Plc (NYSE:HBC) and Banco Santander, S.A. (NYSE:SAN). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Barclays PLC Research Report

Barclays has completed the purchase of ING Direct UK from ING Group this week, as part of the latter's streamlining efforts and increased focus on core businesses, with $17.48 billion of ING Direct UK's savings and deposits and $8.29 billion of mortgages to be paid to Barclays. The deal, which was announced on October 9, 2012, influenced both companies' third and the fourth quarter results of 2012. In other news, Barclays management is now focusing in high-economic growth markets including Africa, citing a favorable macroeconomic environment and increasing social and political stability in the continent. This is part of the company's strategic overhaul to boost its return on equity above its cost of capital by 2015, which also included the reduction of at least 3,700 jobs this year. The Full Research Report on Barclays PLC - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/9175_BCS]

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Itau Unibanco Holding SA Research Report

Brazilian bank Itau Unibanco has announced that chief executive Roberto Egydio Setubal will be stepping down next year as he reaches the retirement age of 60, as part of a company-wide management shuffle. Setubal will then assume presidency of one of the bank's holding companies to ensure a smooth transition as the bank reshuffles its management. Itau Unibanco's board meanwhile will ask shareholders to approve lifting the retirement age for future CEOs to 62 at an assembly on April 19. The bank had previously cut 10,000 jobs last year as margins declined and loan disbursements faced weak growth. Marcos Lisboa, the senior vice president in charge of insurance and internal controls, will be stepping down as well with other executives assuming his responsibilities, reducing its senior vice presidents to 9 from 10. The Full Research Report on Itau Unibanco Holding SA - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/4c6a_ITUB]

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Credit Suisse Group AG Research Report

Credit Suisse has resolved a lawsuit filed in 2010 by Ambac Financial Group, where the latter alleged Credit Suisse US subsidiary DLJ Mortgage Capital and Credit Suisse Securities misrepresented the mortgage-backed securities which were insured by Ambac in 2007. The two companies issued misleading statements and omissions related to MBS, while concealing the risks, including the ability of the borrowers to repay. This portfolio was worth roughly $170 million and included around 2,000 home equity lines of credit. Fortunately, this issue as well as other legal run-ins has not had much of an impact on Credit Suisse's financials, reporting net income of $894.8 million or 18 cents per share compared to a loss of $693.1 million or 66 cents per share. The Full Research Report on Credit Suisse Group AG - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/7ec7_CS]

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HSBC Holdings Plc Research Report

HSBC announced the sale of its two portfolios containing U.S. consumer and homeowner loans for $3.2 billion in cash to SpringCastle Acquisition LLC, in an effort to reduce its footprint in the country. The bank has been selling assets as part of its plan to improve profitability and shore up capital, including the recent sale of its U.S. card business to Capital One for $2.6 billion. SpringCastle, owned by consumer finance company Springleaf Finance Inc. and real estate investment trust Newcastle Investment Corp, received more than 400,000 personal homeowner loans and personal unsecured loans originated mainly through HSBC Finance as part of the deal. Springleaf meanwhile will be buying HSBC's loan servicing facility in Kentucky, with most of the building's workers to transfer and become Springleaf employees. The sale is targeted to close in the fourth quarter after a period allowing for the conversion of loans being sold to SpringCastle. The Full Research HSBC Holdings Plc - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/9344_HBC]

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Banco Santander, S.A. Research Report

Spanish bank Santander announced that its US subsidiary Santander Holdings USA has announced a fixed price cash tender offer for any and all Sovereign Capital Trust IV 4.375 percent Trust PIERS, with an aggregate liquidation amount outstanding of $476.6 million, which will end on March 29, 2013. Meanwhile, the bank did not pursue its bid on bailed-out bank Catalunya Banc despite earlier reports of Santander one of a few banks that filed non-binding bids last year. Catalunya Banc, one of the top lenders in the northern region of Catalonia in Spain, had to be bailed out with European funds at $11.7 billion last year to rebuild its capital after it was hit by Spain's property crash five years ago. The Full Research Report on Banco Santander, S.A. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investors-alliance.com/r/full_research_report/a02d_SAN]

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SOURCE Investors-Alliance

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