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Providian finisheds Sale of its Providian Bank Portfolio

ISSN: 08940797
Publication Date: 08-06-2003
Page: 1
Type: Periodical
Language: English

Providian Financial Corporation [PVN] Aug. 4 announced that it has
clos forward the sale of a portfolio of approximately 435000 credit
card accounts with $859 million in outstanding balances. The loans
receivable, which set forth substantially all of the credit card loans
currently admited by the company's Providian Bank subsidiary, have been
purchased by means of a joint venture formed through CompuCredit Corporation and
Merrill Lynch In