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Deutsche Bank's profit increase overshadowed FRANKFURT: Deutsche Bank warned that its new performance targets were at risk from heavy legal charges as it set aside 1.2 billion euros ($1.31 billion) for fines and settlements and reported quarterly earnings largely in line with expectations.Germany's largest bank by market value said it might not reach its 2020 performance targets, which include a return on tangible equity of over 10 percent compared to 5.7 percent now, should fines and settlements continue to batter the bank's bottom line.The results are Deutsche Bank's first under new boss John Cryan who has taken over after the early resignation of its co-chief executives Anshu Jain and Juergen Fitschen.Investors expect Cryan to push for tougher reforms and deeper cost cuts at the bank, which has been hit by a string of scandals and fines.It is now embroiled in a public dispute with its German supervisor Bafin over its management controls.The bank's second-quarter pretax ...

Royal Bank of Scotland reports profits rise LONDON: State-rescued Royal Bank of Scotland on Thursday announced a 27-percent rise in net profits for the second quarter, with the sale of US operations offsetting higher exceptional costs. Profit after tax climbed to £293 million ($457 million, 418 million euros) in the three months to the end of June compared with a net gain of £230 million in second quarter of 2014, the group said in a statement.The latest update comes after the British ...
Barclays boss McFarlane seen speeding asset sales, cost cuts LONDON: Barclays' new chairman John McFarlane is expected to speed up cost cuts and asset sales at the British bank on Wednesday, when quarterly results will be eclipsed by his strategic plans and the search for a new chief executive. McFarlane fired chief executive Antony Jenkins earlier this month, saying Barclays' turnaround was not happening quickly enough, so he is expected to give more details on his strategy alongside results for the second quarter.McFarlane, who ...
India's Union Bank Q1 net profit falls 22pc, bad loans rise MUMBAI: Union Bank of India, the nation's sixth-biggest state-run lender by assets, reported a smaller-than-expected 22 percent fall in quarterly profit even as bad loans rose.Net profit fell to 5.19 billion rupees ($81 million) during its fiscal first quarter to June 30, from 6.64 billion rupees reported a year earlier, the Mumbai-based lender said. Analysts on average had expected a net profit of 4.99 billion rupees, according to data compiled by Thomson Reuters.Gross bad loans ...
Bank of India Q1 net plunges 84pc; bad loans zoom MUMBAI: Bank of India, the nation's third-biggest state-run lender by assets, reported a sharply bigger-than-expected 84 percent fall in quarterly profit as bad loans surged.Net profit fell to 1.3 billion rupees ($20.3 million) for its fiscal first quarter to June 30, from 8.06 billion rupees reported a year earlier, the Mumbai-based lender said. Analysts on average had expected a net profit of 3.31 billion rupees, according to data compiled by Thomson Reuters.Gross bad loans as ...
Standard Chartered named Best Foreign Bank in Pakistan KARACHI: The Standard Chartered has won the "Best Foreign Bank in Pakistan" award for 2015 by Finance Asia.This award is in recognition of Standard Chartered's superior product structuring and distribution capabilities, and reinforces the Bank's dominant leadership position in Pakistan, said a press release issued here Monday.It said that the last decade has seen Standard Chartered transform itself in Pakistan and become an integral part of the social and economic fabric of the country.With a ...
India govt to consult on central bank on new monetary policy panel NEW DELHI: The Indian government will consult the central bank before taking a decision on the formation of a proposed interest rate-setting panel, junior finance minister Jayant Sinha told Reuters on Monday.Sinha's comments come days after the finance ministry published draft legislation that proposes to reduce the central bank's influence in setting interest rates.Sinha, however, clarified the proposal doesn't reflect New Delhi's views. He added that the government, including Prime Minister Narendra Modi, believes the ...


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln