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Mexico central bank passes $2bn in reserve gains to government MEXICO CITY: Mexico's finance ministry said on Tuesday it will use a financial gain from the central bank's record reserves to fund infrastructure spending in 2016, compensating for a hit to public finances from a sharp drop in oil prices. The central bank gave the finance ministry nearly 31.5 billion Mexican pesos ($2 billion), the finance ministry said in a statement, from a gain made on the bank's dollar reserves in 2014 due to the Mexican peso's sharp depreciation last year. Mexican President Enrique Pena Nieto drove up deficit spending during his first two years in office, but the government has cut back spending after a collapse in global oil prices in late 2014.Mexico's government uses income from the state oil company to fund about one-third of its budget.A slower pace of infrastructure spending and private investment under a landmark energy reform is expected to crimp growth this year and ...

Santander's Q1 profits jump as Spanish economy recovers MADRID: The eurozone's biggest bank, Spain's Santander, said Tuesday its first quarter net profit jumped 32 percent as strengthening economic recovery in its home market boosted revenue.The bank reported a net profit of 1.72 billion euros ($1.87 billion) in the first three months of the year, up from 1.3 billion euros during the same period last year.Net profit in Spain -- which posted its first full year of economic growth last year since the 2008 ...
Deutsche Bank co-CEO in dock on false testimony charges MUNICH: Deutsche Bank co-CEO Juergen Fitschen and four other defendants went on trial on Tuesday accused of giving false testimony in a long-running legal battle with the defunct Kirch media group.A guilty verdict would deal a deadly blow to Germany's biggest lender as it struggles to clean up its image in the wake of a long list of legal challenges in recent years, and would leave the defendants facing prison sentences of between one and ...
Commerzbank in 1.4bn euro capital hike FRANKFURT: Commerzbank, Germany's second biggest lender, announced Tuesday it raised 1.4 billion euros ($1.5 billion) in a capital increase in a move to boost its financial buffers."Commerzbank today placed 113.9 million new shares with institutional investors by way of a so-called accelerated bookbuilding process," the group said in a statement."The placement price was fixed at 12.10 euros per share. The gross issue proceeds amount to a total of 1.4 billion euros," the statement said.Following the ...
Standard Chartered Q1 profit down 22pc HONG KONG: Asia-focused British bank Standard Chartered said Tuesday its first-quarter profit fell more than 20 percent year-on-year, missing analysts' expectations.Profit before tax for the three months ended March 31 fell 22 percent to $1.47 billion from $1.88 billion in the same period last year, the bank said in a filing to the Hong Kong stock exchange.The figure was below the average estimate of $1.6 billion predicted by four analysts polled by Bloomberg News."Trading conditions ...
Deutsche Bank co-CEO in dock on false testimony charges MUNICH: Deutsche Bank co-CEO Juergen Fitschen is one of five defendants in a trial starting Tuesday accused of giving false testimony in a long-running legal battle with the defunct Kirch media group.Since the charges are of an aggravated nature, they can carry a prison sentence of anywhere between one and 10 years if found guilty.Such a verdict would deal a deadly blow to Germany's biggest lender as it struggles to clean up its image in ...
Non-banks should also undergo stress tests, says ECB's Constancio BRUSSELS: Stress tests should be extended to major European financial institutions other than banks to help underpin the integrity of the region's financial system, the ECB's vice president, Vitor Constancio, said on Monday. European banks underwent health checks last year to help make the financial system more resilient to economic crisis as the European Central Bank took over supervision of the euro zone's biggest lenders. The tests are the first step towards more coordinated control ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln