NO. 40


Financial and Banking News

Regional Banking

Action by Regulatory Authorities Marks the End for BCC Group

The coordinated move by regulatory authorities to freeze the assets of theBank of Credit and Commerce (BCC) Group marks the end of one of the mostextraordinary banking stories of recent times. In the space of 18 years BCC grewinto one of the world's biggest privately-owned banks, with operations in over70 countries and assets of over $20bn. But the 5 July freezing...