Financial Business Recap: Credit Suisse Expects PROFITS, Citi SELLS EMI
Credit Suisse (NYSE:CS) expects that it will “…be profitable at the Group level and in all its divisions” in the second quarter, confirming a Swiss report that reported similar predictions. However, the Swiss National Bank said in June that CS needs to boost capital “substantially” in 2012, which is putting the firm’s shares under pressure.
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New York Community Bancorp (NYSE:NYB) finalizes its assumption of $2.2 billion in deposits from Aurora Bank, for which it was payed $24 million by the latter for taking on the deposits. Total assets of NYB stand currently at $43 billion.
Citigroup (NYSE:C) closes on its divestiture of EMI Music Publishing, to a group comprised of Sony and Blackstone, among others. The price tag of the sale was $2.2 billion, for which permission was granted earlier by the Federal Trade Commission. The transaction will create the world’s largest catalog of music publishing rights.
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