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Spain's Caixabank targets ROTE of 12-14pc from 2017 onwards MADRID: Spain's third-biggest lender Caixabank on Tuesday said it was targeting a ROTE profitability ratio of 12 to 14 percent from 2017 onwards, up from 3.4 percent today, thanks to both a rise in revenues and a sharp improvement in its efficiency ratio.The Barcelona-based bank, one of the few Spanish lenders to have weathered the worst financial crisis in decades without needing public aid, said it would grow its revenues by 5.7 percent annually over the next three years.It also aims to bring its efficiency ratio below 45 percent by 2018 to put it in line with big Spanish peers, cut its non-performing loan ratio to below 4 percent, compared to 9.9 percent at the end of 2014 and keeps its so-called CET1 fully-loaded capital ratio at between 11 and 12 percent.In a presentation to journalists, Caixabank, one of the most acquisitive lenders during the crisis, reiterated that it did ...

UK legislator says Bank of England FX probe was too soft LONDON: A Bank of England probe into what central bank staff knew of malpractice in London's foreign exchange market failed to scrutinise officials closely enough and was "seriously incomplete", a senior lawmaker said on Tuesday.Last year, the BoE's supervisory board commissioned an investigation by a top commercial lawyer, Anthony Grabiner, to look into what BoE staff knew about foreign exchange market malpractice.The investigation found that the BoE's chief foreign exchange dealer had failed to escalate ...
South Korea central bank to sell 2.5trn won MSBs on Wednesday SEOUL: South Korea's central bank said on Tuesday that it will sell 2.5 trillion won ($2.28 billion) worth of two-year monetary stabilisation bonds via an auction on Wednesday.The auction will be held at 0100 GMT for 10 minutes, the Bank of Korea said.Copyright Reuters, 2015 ...
Barclays Africa says applies for Nigerian licence JOHANNESBURG: Barclays Africa has applied for a licence to operate in Nigeria and is "keen" to take over operations in Egypt and Zimbabwe that still belong to its parent company, its chief executive said on Tuesday."We have just applied for the licence and we'll have to wait to see what the outcome of that application is. So no, we have not yet heard anything," Maria Ramos told reporters.Copyright Reuters, 2015 ...
Polish mBank plans conditional dividend at 17 zlotys/share WARSAW: Polish lender mBank said on Tuesday it plans to pay out a dividend of 17 zlotys ($5) per share if its total capital ratio (TCR) stands at least at 15.5 percent in the first half of 2015 and net profit reaches at least 250 million zlotys. If these conditions are met, the dividend would amount to 717.57 million zlotys, with the dividend day set as May 29 and the dividend payout day set as ...
China to simplify SOE off-shore financing process soon SHANGHAI: Off-shore investment and fundraising procedures for Chinese state-owned enterprises (SOEs) will soon be simplified, media reported on Tuesday.The People's Bank of China (PBOC) and related government bodies have already submitted a proposal to streamline "going out" procedures for Chinese firms to the State Council, a central bank official told Shenzhen-based Securities News."In the future, restrictions on overseas investment and financing by Chinese SOEs will be eased, and firms won't have to apply for permission ...
Lending income lifts Barclays Africa, FY earnings up 10pc JOHANNESBURG: Barclays Africa Group posted a 10 percent rise in full-year earnings on Tuesday, in line with expectations, after booking higher lending income and cutting bad debts.The African subsidiary of Barclays Plc said diluted headline earnings per share totalled 1,537.5 cents in the year to end-December, from 1,396.6 cents a year earlier.Analysts had pencilled a 9 percent increase in earnings.Headline EPS, which excludes certain items, is the main measure of profit in South Africa.Barclays said ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln