Purpose of foreign branch bank
Discuss the purpose of the foreign branch bank.
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Foreign branch bank operates like local bank, though legally it is part of the parent bank. As such, branch bank is subjected to the banking regulations of its home country and also country in which it operates. Primary reason for parent bank forms a foreign branch is that it may offer full range of services for its MNC customers through branch office in comparison to those it provides through a representative office.
You expect the price of the stock 3 years from now to be $119.04 (i.e., you expect P ˆ 3 ?? = $119.04). Discounted at a 10% rate, what is the present value of this expected future stock price? In other words, calculate the PV of $119.04.&nb
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