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UniCredit posts in line Q1 profit, core capital slightly higher MILAN: Italy's biggest bank by assets, UniCredit, posted a 512 million euros ($576 million) net profit in the first quarter, in line with analyst expectations, while its closely watched core capital edged higher. An analyst consensus distributed by the bank had forecast a net profit of 511 million euros. Earnings were boosted by trading income and higher fees. UniCredit said its fully-loaded CET 1 ratio, a key measure of financial strength, stood at 10.35 percent from 10.02 percent at the end of December. The figure includes a contribution of about 25 basis points from a deal sealed in April to merge UniCredit's Pioneer with Santander Asset Management. Copyright Reuters, 2015

UK five-year gilt yields hit six-month high in global bond rout LONDON: Five-year British government bond yields rose to a six-month high on Thursday, reflecting a global flight from bond markets that analysts have struggled to fully explain. At 1139 GMT the five-year gilt yield hit its highest level since Nov. 12 at 1.559 percent, up around 9 basis points on the day. It was last at 1.54 percent. Long-dated gilt prices also sustained heavy losses as euro zone government debt tumbled sharply, with 30-year yields ...

India's industrial output growth slows to 2.1pc y/y in March NEW DELHI: India's annual industrial output growth slowed to 2.1 percent in March, government data showed on Tuesday. Analysts polled by Reuters were expecting the output to grow 2.8 percent compared with a provisional 5.0 percent annual growth in February.Copyright Reuters, 2015

RBS appoints Santander executive as business banking head LONDON: Royal Bank of Scotland has appointed Marcelino Castrillo managing director of business banking, handing him the task of restoring trust in a bank which has been criticised for its treatment of small firms. Castrillo, who will report to RBS's retail head Les Matheson, was formerly managing director of small business banking at Santander UK."We are the biggest lender to UK SMEs but we want to be the best and Marcelino will play a key ...

US telecoms giant Verizon buying AOL for $4.4bn NEW YORK: Verizon said Tuesday it is buying AOL for about $4.4 billion in a deal that will give the US telecoms giant increased digital content and advertising platform space.Verizon said it is paying $50 per share of AOL, whose stock price jumped by almost 18 percent in pre-market trading to $50.22."AOL has once again become a digital trailblazer, and we are excited at the prospect of charting a new course together in the digitally ...

ThyssenKrupp raises full-year targets FRANKFURT: German heavy industry giant ThyssenKrupp on Tuesday raised its full-year forecasts after better-than-expected earnings in the second quarter. ThyssenKrupp, which runs its year from October to September, said in a statement that "against the background of the progress made in operating performance and the generally stabilising economic conditions, management has specified and raised its forecast for the full year 2014/2015."The group said it now expected underlying or operating profit to "increase significantly to 1.6-1.7 ...

Deutsche Post confirms targets after 'moderate' Q1 FRANKFURT: German postal and logistics giant Deutsche Post said Tuesday it is sticking to its full-year earnings targets despite only a "moderate" start in the first quarter. "Although Deutsche Post DHL expects global growth to be moderate at best in 2015 and continues to make substantial investments in its long-term success, the group has confirmed its targets," the company said in a statement. Underlying or operating profit was projected to increase to between 3.05-3.2 billion ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln