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India's central bank keeps interest rates unchanged MUMBAI: India's central bank kept its key interest rate on hold Tuesday as analysts had expected, resisting government pressure for a fourth cut of the year. The Reserve Bank of India (RBI) said the benchmark repo rate -- the level at which it lends to commercial banks -- would remain at 7.25 percent."It is prudent to keep the policy rate unchanged at the current juncture while maintaining the accommodative stance of monetary policy," RBI governor Raghuram Rajan said in a statement following the bank's monetary policy review meeting in Mumbai.Rajan had already snipped rates three times this year to aid India's economy, which at 7.5 percent growth outperformed China's for the first three months of 2015.Prime Minister Narendra Modi's business-friendly government was keen for a further cut as it seeks to quicken the pace of growth in Asia's third-largest economy. But Rajan has insisted that any further reduction would have ...

Credit Suisse, Jive raise largest Brazil distressed asset fund SAO PAULO: Credit Suisse Group AG and Jive Investments Holding Ltd raised Brazil's largest-ever distressed asset fund, underscoring growing interest in an asset class that has become the flavor of the month as Latin America's largest economy slips into recession.So Paulo-based Jive raised 500 million reais ($145 million) from Credit Suisse's private-banking clients in Brazil seeking to diversify into toxic credit and real estate assets, Jive said in a statement. The fund will be called ...
UK to start selling RBS shares with 5.2pc stake LONDON: Britain is to start selling off its shares in the Royal Bank of Scotland by disposing of 5.2 percent of the state-rescued institution, the Treasury announced Monday.RBS was bailed out with public money at a cost of £45.5 billion ($70.9 billion, 64.7 billion euros) following the 2008 global financial crisis and the British government holds 78.3 percent of the bank's shares.The Treasury owns its stake in RBS through UK Financial Investments and finance minister ...
Mexico central bank sells $200mn in currency auction MEXICO CITY: The central bank of Mexico sold $200 million on Monday at an average price of 16.0991 pesos per dollar, the bank said, part of an auction program to boost foreign exchange liquidity following a slump in the peso. Copyright Reuters, 2015 ...
Turkey's Vakifbank Q2 net profit misses forecast ANKARA: Turkey's Vakifbank posted a net profit of 386.3 million lira ($139.21 million)in the second quarter, missing expectations of 402 million lira in a Reuters poll. The bank posted its results on the Istanbul Stock Exchange. Copyright Reuters, 2015 ...
Kenya's central bank to lift interest rates to 12pc on Aug. 5 JOHANNESBURG: Kenya's central bank will lift interest rates on Wednesday, according to a slim majority of economists in a Reuters poll, as authorities look to support the shilling against a resilient US dollar.Despite last month's reprieve in inflation, the median forecast from the poll of 11 analysts, taken in the past week, suggested the central bank would lift interest rates by 50 basis points to 12 percent. However, five said there would be no change ...
Commerzbank says profits almost triple to 280mn euros FRANKFURT: Germany's second biggest banking group Commerzbank said Monday its second quarter profits had almost tripled, pushed up by higher revenue and a lower tax bill.From April to June the bank made a net profit of 280 million euros, it said, against 100 million in the first quarter. The results are better than analysts predicted, with Factset saying the bank's net profits were likely to come in around 267 million euros.Copyright AFP (Agence France-Presse), 2015 ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln