WILMINGTON, Del. - Beneficial Corp. said it has decided to retain BFK Bank AG, its German consumer banking subsidiary that was on the selling block.
"While our first choice certainly was to sell the bank, we are not willing to sell it at any price, and no offer we considered acceptable was received," said Finn M.W. Caspersen, Beneficial's chairman and chief executive officer. "Accordingly, with significantly strengthened management now in place, we look forward to improved operating results from our German operation in 1996 and future years."