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Providian Financial Corporation was one of the leading credit card issuers in the United States when it was sold to Washington Mutual for approximately US$6.5 billion in October 2005. Providian was headquartered in San Francisco, California, and had more than 10 million card holders at the time of its sale.
Providian Financial Corporation is one of the leading issuers of credit cards in the United States. As of late 2002, the company had more than 13 million customer accounts and $20 billion in managed receivables.
(SAN FRANCISCO) – Attorney General Bill Lockyer and San Francisco District Attorney Terence Hallinan today announced that Providian Financial Corp., the nation's sixth largest credit card company, will refund more than $300 million to consumers under a major settlement filed with the San Francisco Superior Court.
Providian Financial Corporation is a diversified consumer lender. The Company offers a variety of loan products, including credit cards, revolving lines of credit, secured credit cards, and...
General Information. Description. Provider of credit card services intended to offer easy and flexible payment options. The company offers a family of credit products designed to fulfill the financial needs of individuals and businesses while offering rewards in the form of coupons and discounts to mainstream American customers.
With the acquisition of Providian Financial Corporation in October 2005, WaMu became the nation's 9th-largest credit-card company. Many of WaMu's acquisitions became reviled as the rapid post-merger integrations resulted in numerous errors.
In its biggest deal in seven years, Washington Mutual said today it is buying credit-card giant Providian Financial for $6.45 billion.
Website:https://www.providian.com; Ticker:PVN; Company type:Revenues ($M):$1,217; Profits ($M):$192; Market value ($M):Number of employees:3,884
On October 3, 2005, Washington Mutual acquired Providian Financial Corporation, the ninth-largest credit card issuer in the U.S., for $6.5 billion. At the time, Providian had approximately 10 million customer relationships and a balance of $18.6 billion.
Washington Mutual, said on Monday it had agreed to buy Providian Financial, a credit card issuer, for $6.45bn in stock and cash, a move analysts said could help the largest US savings and...