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Recent News and Events: Federal Loan Refinancing Student
BankPlus will launch a new program in October intended to be an alternative to payday loans and other short-term, high-interest loans.
CIBC announced net income of $71 million for the third quarter ended July 31, 2008, compared with net income of $835 million for the same period last year. Diluted earnings per share were $0.11, compared with diluted EPS of $2.31 a year ago.
For the third quarter ended July 31, 2008, BMO Financial Group reported net income of $521 million or $0.98 per share. We continue to maintain a strong Tier 1 Capital Ratio and the third quarter return on equity at 13.5% shows the underlying benefits of our diversified businesses.
With lenders leaving the college loan market, some students face higher interest rates and a scramble to find new banks.