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Barclays' banking and mortgage complaints rise in third quarter LONDON: British bank Barclays said it had seen an increase in complaints relating to its banking services and mortgages in the third quarter of the year, although complaints about the mis-selling of loan insurance declined. Barclays, which has 48 million customers, said total complaints fell by 7 percent to 151,000, compared with the same period a year ago.That included a 21 percent fall in complaints about insurance to 91,300, the vast majority of which related to the mis-selling of payment protection insurance (PPI) in Britain. Barclays said the increase in mortgage and banking complaints was "wholly unacceptable". General banking complaints rose by 29 percent to 55,000. Barclays said the increase was driven largely by claims management companies, which take a cut of whatever compensation they obtain for customers. Complaints about mortgages rose by 18 percent to 2,700, which the bank said was due to growth in the number of applications ...

BoJ says will cut short-term December bond-buying to improve supply TOKYO: The Bank of Japan said on Friday it will scale back buying of short-term Japanese government bonds at its first debt purchasing operation in December as a supply shortage resulting from its monetary expansion drive takes hold. The BoJ said it will buy 450 billion yen ($3.81 billion) of one-year to three-year JGBs at its first operation in December, down from the 550 billion yen it purchased at its last operation in November. Similarly, ...
ECB says banks to return 5.864 billion euros in crisis loans FRANKFURT: Banks will return 5.864 billion euros (7.30 billion US dollar) in crisis loans to the European Central Bank next week after it started offering them new four-year loans at cheap rates. The Dec. 3 repayment is less than the 8.5 billion euros banks repaid this week but more than the 4.5 billion euros money market traders polled by Reuters had expected. Banks are returning funds they took from the ECB in late 2011 and ...
India says considering plan to reduce stake to 52pc in state banks NEW DELHI: The Indian government is considering a plan to reduce stakes in state-run banks to 52 percent that could enable it to raise about 891.2 billion rupees ($14.39 billion), Jayant Sinha, junior finance minister told lawmakers on Friday.The government holds stakes ranging from 56 percent to 84 percent in the state-run banks that account for 70 percent of India's total outstanding loans of about $1 trillion."The reduction of government of India share in equity ...
Argentina charges HSBC with aiding tax evasion BUENOS AIRES: Argentina's tax agency has charged British bank HSBC with helping more than 4,000 Argentines to commit tax evasion by stashing money in secret Swiss accounts, officials said Thursday. The Argentine tax authority (AFIP) said it had searched HSBC offices in Buenos Aires before moving ahead with the charges."We have filed a charge for tax evasion and illicit association relating to bank accounts in Switzerland," said AFIP director Ricardo Echegaray.He said three agencies associated ...
Turkish central bank injects 10 billion lira in repo, bids 15.42bn ISTANBUL: Turkey's central bank injected 10 billion lira ($4.52 billion) into the market in a one-week repo auction on Thursday at a fixed simple rate of 8.25 percent, bank data showed.Total bids for the repo, maturing on Dec. 4, amounted to 15.42 billion lira.Copyright Reuters, 2014 ...
Turkish central bank says may adjust reserve requirements for lenders ISTANBUL: Turkey's central bank said on Thursday it may adjust reserve requirements for commercial lenders to encourage them to reduce their reliance on foreign borrowing, a move which would lessen their vulnerability to volatile capital inflows.Turkey is particularly vulnerable to changes in foreign capital flows, which it uses to finance its current account deficit, its main economic weakness.The bank said capital flows to emerging markets remain volatile due to uncertainty over global monetary policy and ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln