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Thai TMB Bank cuts 2014 loan growth target after weak Q1 BANGKOK: Thailand's TMB Bank cut its 2014 loan growth target to between 6 percent and 8 percent, saying it was becoming more cautious as political tensions raise concerns about the economy. TMB Bank, the country's seven-largest lender, had previously forecast loan growth of 8 percent for the year. Its first-quarter loan portfolio, however, grew only 0.3 percent from the previous quarter, leading to the revision of the outlook, Chief Executive Boontuck Wungcharoen said in a statement. Earlier, the bank reported a 12 percent drop in its first quarter net profit. Profit fell to 1.6 billion baht ($49.6 million) for the January-March quarter from 1.8 billion baht a year earlier, with non-performing loan at 3.85 percent of total, down from 3.87 percent at the end of last year. TMB Bank is 31 percent owned Dutch financial service company ING Groep. Copyright Reuters, 2014


Amazon hit by new strikes in Germany FRANKFURT: Two of Amazon's key sites in Germany were the target of fresh walkouts by staff on Thursday in an long-running wage dispute. The services sector union Verdi has called for full-day stoppages at Amazon's logistics centres in Leipzig and Bad Hersfeld. Participation was "good," a Verdi spokesman told AFP, without specifying how many employees took part in the strike.Amazon has a workforce of around 2,000 in Leipzig and 3,300 at Bad Hersfeld.Amazon has a ...

Oman's Bank Dhofar Q1 earnings beat estimates despite profit drop DUBAI: Bank Dhofar, currently in talks to merge with smaller rival Bank Sohar, beat analysts' expectations despite a 68.5 percent fall in first-quarter net profit as a one-off gain from last year wasn't repeated. Oman's second-largest bank by market value made a profit of 10.22 million rials ($26.6 million) in the opening three months of 2014 compared to 32.44 million rials in the prior-year period, a bourse statement said on Thursday.Four analysts polled by Reuters ...

SAP confirms 2014 forecasts after solid Q1 FRANKFURT: German software giant SAP said on Thursday it is sticking to its full-year forecasts for 2014 after profits rose slightly in the first quarter.SAP said that net profit rose by 3.0 percent to 534 million euros ($739 million) in the period from January to March, underlying or operating profit was up 12 percent at 723 million euros on a 3.0-percent increase in revenues to 3.698 billion euros. SAP publishes two sets of accounts, one ...

'Chief Yahoo' David Filo returns to board SAN FRANCISCO: Yahoo announced the nomination Wednesday of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."Filo was named along with Charles Schwab, head of a big investment firm bearing his name, and H. Lee Scott, former president and chief executive at Walmart."As a co-founder and long time Chief Yahoo, Filo is the heart and soul of the company and in re-joining the board, ...

Lloyds Bank says investors swap bonds for $98 million LONDON: Lloyds Banking Group said private retail investors who held bonds issued to rescue the bank during the 2008/9 financial crisis had agreed to swap them for 58.5 million pounds ($98.2 million) in cash. Lloyds, which is 25 percent owned by the government, also confirmed that institutional investors had agreed to exchange 5 billion pounds worth of the instruments, known as enhanced capital notes, for new bonds. The bank issued the bonds, which were designed ...

Unicredit's online unit Fineco files for listing MILAN: Italy's biggest bank by assets UniCredit said on Thursday its online banking unit FinecoBank had filed to list on the Milan stock market.The listing of Fineco is part of the bank's 2013-2018 business plan, it said UniCredit will remain the majority shareholder of Fineco, it said.Two sources previously told Reuters UniCredit plans to list 25-30 percent of the unit. Copyright Reuters, 2014


 



 
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Banking Review 2013


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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln