CHARLOTTE, N.C., April 30 /PRNewswire-FirstCall/ -- Effective today,
Wachovia Corporation (NYSE: WB) lowered its prime interest rate to 5
percent from 5.25 percent at Wachovia Bank, National Association, and all
of its other banking subsidiaries.
The prime rate is a benchmark used to set interest rates on various
forms of corporate and consumer credit. It is one of several interest rate
bases used by Wachovia, which lends at interest rates above and below the
prime rate. The prime rate last changed on Mar. 18, 2008.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of $808.9 billion and
market capitalization of $53.8 billion at March 31, 2008. Wachovia provides
a broad range of retail banking and brokerage, asset and wealth management,
and corporate and investment banking products and services to customers
through 3,300 retail financial centers in 21 states from Connecticut to
Florida and west to Texas and California, and nationwide retail brokerage,
mortgage lending and auto finance businesses. Globally, clients are served
in selected corporate and institutional sectors and through more than 40
international offices. Our retail brokerage operations under the Wachovia
Securities brand name manage more than $1.1 trillion in client assets
through 18,600 registered representatives in 1,500 offices nationwide.
SOURCE Wachovia Corporation
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Related links:
http://www.wachovia.com
CONTACT:
Media, Christy Phillips-Brown,
+1-704-383-8178, or Carol Clarke, +1-704-383-5188, or Investors,
Alice Lehman, +1-704-374-4139, or Ellen Taylor, +1-704-383-1381,
all of Wachovia Corporation
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