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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 of the single currency zone's financial system. The European Commission is planning a wider capital markets union for the 28-nation EU bloc.To help make that union a success, Constancio said, systemically important non-bank financial institutions - which include insurers, investment and pension funds but which he did not categorise in his speech - should be subject to similar testing."We need to curtail risks from these systemic players and raise their resilience through the financial cycle," ...

Deutsche Bank cuts Postbank loose in new restructuring FRANKFURT: Deutsche Bank, Germany's biggest lender, unveiled Monday details of a huge strategic shake-up in which it will rid itself of its Postbank unit and massively curb costs. Ending months of feverish speculation, Deutsche Bank finally lifted the veil on its blue-print for the future, bringing down annual costs by 3.5 billion euros ($3.8 billion) by 2020 and confronting the challenges of increased financial sector regulation and current low interest rates. The plans entailed the ...
Deutsche Bank considers alternatives to Postbank IPO; CFO FRANKFURT: Deutsche Bank will consider alternatives to an initial public offering when divesting its retail Postbank business, Chief Financial Officer Stefan Krause said."It's the basis of our thinking right now to follow the IPO route," he said during a conference call with analysts to discuss the bank's strategic revamp."We don't rule out any alternative," he added.An IPO is seen as the safer path and potential proceeds are not the main driver for an exit of ...
Deutsche Bank Q1 profit falls by half as legal charges bite FRANKFURT: Deutsche Bank saw net profit fall by half to 559 million euros ($608.1 million) in the first quarter versus a year ago as hefty legal charges eroded gains from a 24 percent rise in revenue to a near record of 10.4 billion euros. The group's investment bank saw revenue increase but its pre-tax contribution to the group's bottom line fall by more than half to 643 million euros due to rising non-interest expenses. A ...
India central bank chief Rajan calls for formal financing routes for farmers MUMBAI: Reserve Bank of India Governor Raghuram Rajan called for an urgent expansion of formal financing routes for farmers after a spate of suicides in the country, the Business Standard said on Saturday, citing the Press Trust of India."It is lack of formal financing rather than the excessive burden of informal financing which is the problem. So can we move formal financing to every area of the country," Rajan was quoted as saying.Prime Minister Narendra ...
HSBC expects progress this year on resolving past conduct issues LONDON: British bank HSBC said it expects to make progress on resolving past conduct issues this year. "As recent events have shown, there are a number of legacy issues left to resolve. We will make further progress on these in 2015," Chief Executive Stuart Gulliver told investors at the annual meeting in London. Gulliver also said the costs of operating a global business model had increased significantly in recent years, which had required the bank ...
HSBC bank launches review on whether to keep HQ in UK LONDON: Global banking giant HSBC on Friday said it had launched a review on whether to remain headquartered in Britain as the country tightens regulation of the sector.In a surprise announcement less than two weeks before Britain's general election, the Asia-focused bank again highlighted its concern about government policy to ring fence British banks' retail operations to protect them from their investment divisions. The board has "asked management to commence work to look at where ...


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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 $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln