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Nov 16, 2005

FinanceNews - Germany - DaimlerChrysler seeks licence to open U.S. bank

BERLIN,Germany -Reuters -Nov 16, 2005: -- DaimlerChrysler intends to launch its own bank in the United States as a way to reduce borrowing costs, the head of the German-American carmaker's financial services division said... The bank could operate across the United States by gaining a license in the state of Utah as long as it is organizationally separate from the group's car business, Walker explained... DaimlerChrysler already operates a bank in Germany and recently won approval to offer financial services such as leasing and car loans in China...

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