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Microcap & Penny Stocks : Madera International - Symbol WOOD
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To: tonto who wrote (1590)3/30/1999 1:32:00 PM
From: Henry Volquardsen  Read Replies (1) of 1979
 
In fact a large part of BankBoston's reputation in corporate America is based on their expertise throughout South America. Citibank is also pretty big, especially in Brazil. When I was with Citi we were earning as much as 1/6 of total bank earnings in Brazil. As management put, Citi was a bigger part of the Brazilian economy than the US economy.

Yes, typically foreign banks have a corresponding with a number of banks. Also corresponding relationships are not exclusively for foreign banks. Corresponding banking used to be a very big deal in the US. When I got into banking US banks would have corresponding relationships with banks in other states.
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