Sovereign Bancorp ( SVRN ) Message Board

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Non-Tech : Sovereign Bancorp ( SVRN )

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To: KHS who wrote (49)	4/13/1999 5:45:00 PM
From: Triffin	Read Replies (1) of 143

KHS ... SVRN I'm not saying that SVRN is not a well run bank nor that it may be an attractive investment at the current price .. but there is no way that a 19 Billion Assets multi-state ( PA/NJ/DE/NY/MD )bank with $10.7 Billion in deposits and over 500 physical branches is suddenly going to open an internet branch and compete on price ie offer higher rates on CD's, checking, and lower rates on the lending side .. without destoying it's profitability and canabalizing it's own customer base in the process .. i-net banking is about attracting assets by offering depositors better rates and services without the overhead in personnel or physical branches .. SVRN maybe a great investment but it won't become an i-net bank without enormous cost to its existing structure. Jim in CT ..

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