Game Changers : Black Owned Bank receives 8,000 new bank accounts and $1 million in 5 days

There are 21 African American owned banks with assets totaling approximately $4.7 billion or approximately 0.43 percent of African America’s $1.3 trillion in buying power. In 1994, there were 54 African American owned banks according to the FDIC. Now, there are 21.

In other words 99% of Black Americans put their money in Non Black Banks

Goal push that to at least 15% of Black spending Power

or $150 billion dollars

http://www.usatoday.com/story/money/2016/07/15/black-owned-banks-credit-unions/87118624/

10 Largest Black owned Banks

  1. ONE UNITED BANK

https://www.oneunited.com/

In the past two years, we have financed over $100 million in loans – most in low to moderate income communities such as South Central, Compton, Liberty City and Roxbury. However, we never participated in subprime lending. We have always experienced low loan losses.

Our growth has been through acquiring community banks across the country that are equally dedicated to our mission including – Founders National Bank of Los Angeles, Family Savings Bank in Los Angeles, California, Boston Bank of Commerce in Boston,Massachusetts and People’s National Bank of Commerce in Miami, Florida.

Locations – Los Angeles, Miami, Boston

Founded: August 02, 1982

FDIC Region: New York

Assets: $590 624 000

2. SEAWAY BANK & TRUST COMPANY

http://www.seawaybank.us/

Location: Chicago, Illinois

Founded: January 02, 1965

FDIC Region: Chicago

Assets: $573,168, 000

 

 

3. LIBERTY BANK & TRUST COMPANY

http://www.libertybank.net/

Liberty, one of the nation’s largest African-American-owned banks, has 20 branches in four states, including locations in Kansas, Mississippi, Louisiana and Texas. The Douglass National deal raises Liberty’s asset base to $545 million. 

 

Locations: New Orleans, Louisiana | Baton Rouge-Louisiana | Kansas City, Missouri | Dallas, Texas

Founded: November 16, 1972

FDIC Region: Dallas

Assets: $545,019,000

 

5. CITIZENS TRUST BANK

http://www.carverstatebank.com/

Location: Atlanta, Georgia

Founded: June 18, 1921

FDIC Region: Atlanta

Assets: $392 286 000

6. BROADWAY FEDERAL BANK FSB

http://www.broadwayfederalbank.com/

Location: Los Angeles, California | Inglewood, CA

Founded: February 26, 1947

FDIC Region: San Francisco

Assets: $385 055 000

7. CITY NB OF NEW JERSEY

https://www.citynatbank.com/

 

Location: Newark, New Jersey

Founded: June 11, 1973

FDIC Region: New York

Assets: $340 301 000

8. INDUSTRIAL BANK

http://www.industrial-bank.com/

 

Location: Washington, DC

Founded: August 18, 1934

FDIC Region: New York

Assets: $342 524 000

9. MECHANICS & FARMERS BANK

https://www.mfbonline.com/main/index2.html

 

 

Location: Durham, North Carolina

Founded: March 01, 1908

FDIC Region: Atlanta

Assets: $304,809,000

 

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The World’s Most Profitable Stock Markets Are in Africa

The Egyptian stock market has emerged the most appreciating stock market in the world for the just concluded year, as investors were rewarded with a 49.56 percent yield-to-date return on investment from the Egyptian Exchange (EGX).

Meristem Research, a financial market consultancy firm, reports that the Kenyan stock market came second with a 39.32 percent YTD return on investment.

The Nigerian and Ghanaian bourses followed with a 35.45 percent appreciation, while the South African market returned a 23.81 percent profit to investors.

The rise of the Egyptian stock market which plummeted in capitalization by almost 50 percent in 2011 as a result of protracted economic and civil unrest, has been largely tied to prospective political progress in the country.

Local and foreign investors have plunged belief and funds in the market following a seemingly continuing calm at the end of the revolution that saw its former president Hosni Mubarak ousted.

However, the economic outlook of the country is uncertain. Massive unemployment persists, with fresh crisis erupting fueled by religious disagreement over the new constitutional make up.

The government has sought foreign aid from the World Bank and several countries, with confidence that the funds will boost investor confidence in the economy and help drive growth.

According to BusinessDay, the US Dow Jones Average closed the year with YTD of 6.40 percent, NASDAQ Composite Index 13.95 percent, UK FTSE All Share Index 8.61 percent, France FAC 40 Index 14.80 percent and German Dax Index, 29 percent.

YTD from China’s Hang Seng was 23.90 percent, India BSE 30 index 25.82 percent and Japan Nikkei 225, 22.94 percent…

Read More: ventures-africa.com