Regions Financial sees $300 mln cost savings for 2007

lunedì 10 dicembre 2007 21:38

Dec 10 (Reuters) - Regions Financial Corp (RF.N: Quotazione) said it expects at least $300 million in cost savings for 2007, twice the original target, as it completed the merger integration of AmSouth Bancorp ahead of schedule.

The company said it expects reaching a run rate of at least $500 million in cost savings by the second quarter of 2008, up from the original target of $400 million. (Reporting by Avishek Mishra in Bangalore; Editing by Gopakumar Warrier)