Banks are key institutions in every thriving economy. They provide numerous services to its clientele that are unique enough to attract many prospective customers. Amongst them are the safe keeping of its clients’ money and other valuable commodities. The modern days have seen the rise of many commercial banks each providing similar services, but with value-additional details to catch the eye of the ever-growing human population.
Nex Bank is an American bank founded in 1922 by James Dondero. It is located in Dallas, Texas and offers services about commercial banking, institutional services, and mortgage banking to individual clients, corporations, real estate investors, middle-market firms and also other financial institutions. It is amongst the ‘big banks’ with an asset net worth of 4.6 billion dollars, loans portfolio of 2.2 billion dollars, deposits levels of 2.1 billion dollars, and an employee base of between 50-200 workers. Its services thrive under the remarkable combination of technical expertise, and its principal purpose is to serve its clientele. More so, it gives special focus on servicing the financial needs of all its customers.
Nexank’s dominance in the industry is felt through its overall profitability, its range of capital, high liquidity levels, and high asset quality. For the past year, the bank enjoyed a rather high return on capital, with its profitability exceeding the budgeted levels. To increase its growth and development, NEX Bank conducted a capital raise amounting 24 million dollars aimed at sources other new investment opportunities. Amidst these positive milestones, the firm has received recognition and commendation through upgrade ratings that have proved stable since the previous year.
The bank needs to expand has seen it make significant acquisitions like the purchase of College Savings Bank of Princeton. This buy-in majored in the college-savings program that Nexbank intends to uphold even under its new management with the aim of assisting the youth in their future education plans. More so, it purposes to reach more families through this move.