12042016Sun
Last update: Sun, 04 Dec 2016 07pm

Banking & Finance

Business & Finance - Banking & Finance

EU banks at risk from bad loans, low profit: regulator LONDON: The greatest risks facing European Union banks are high levels of bad loans and lower profitability, the bloc's financial regulator said in a report Friday.The European Banking Authority said that while EU-wide lenders had strengthened their capital buffers, technology-related risks were increasing amid lingering litigation concerns.Presenting its ninth report on "risks and vulnerabilities in the EU banking sector", the EBA pointed to "high levels of non-performing loans (NPLs) and sustained low profitability" as being the main risks.But it said that overall, the 131 banks had "further strengthened their capital position, allowing them to continue the process of repair" against a backdrop of high volatility in funding markets.The regulator noted that the NPL ratio for the assessed banks as set against total loans had decreased overall to 5.4 percent in the second half of 2016 from 6.5 percent at the end of 2014. "While there are signs of potential improvements, asset quality is still weak compared to historical figures and other regions," the EBA ...

Business & Finance - Banking & Finance

Indonesia central bank says loan growth has rebounded KUTA: Indonesia's central bank said there were signs that banks have started to lend more to clients and that loan growth may have rebounded in October from its lowest level since 2009, a senior official said on Saturday.Juda Agung, Bank Indonesia's (BI) executive director of economic and monetary policy, said based on commercial banks' daily reports to regulators, loan growth may have rebounded to 7.5 percent in October and could accelerate to 8.3 percent in November.The latest banking data showed ...

Business & Finance - Banking & Finance

Singapore fines two British banks for 1MDB-linked lapses SINGAPORE: Singapore's financial regulator said Friday it has fined two British banks and barred a former Goldman Sachs banker in a widening crackdown on money laundering linked to Malaysian state fund 1MDB.Standard Chartered Bank was slapped with a Sg$5.2 million ($3.65 million) penalty while Coutts bank was fined Sg$2.4 million for breaching anti-money laundering regulations in 1MDB-linked transactions, the Monetary Authority of Singapore (MAS) said in a statement.The fines came after MAS, also the city-state's central bank, shut down the local ...

Business & Finance - Banking & Finance

Italy govt undersecretary says Monte Paschi won MILAN: Ailing Italian bank Monte dei Paschi di Siena will not need state support, Claudio De Vincenti, an undersecretary at the prime minister's office, said on Thursday.  The bank, which emerged as the weakest lender in a European health check of the sector this summer, is seeking to raise 5 billion euros ($5.3 billion) by year-end to plug a capital shortfall.  However, the plan has been overshadowed by a Dec. 4 referendum that could unseat the government of Prime Minister Matteo ...

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Russian central bank governor discusses G20 with French finance minister       MOSCOW: Russian central bank governor Elvira Nabiullina has discussed G20 agenda for the next year with French Finance Minister Michel Sapin, the central bank said in a statement on Thursday.    Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Mexico MEXICO CITY: Mexican Central Bank Governor Agustin Carstens is set to leave the Banco de Mexico in July 2017 to lead the Bank for International Settlements from October next year, a central bank spokesman said on Thursday.  Carstens, a former Mexican finance minister, has been the governor of the central bank since 2010.  The peso weakened nearly 1 percent on the news.        Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Bank of England sees global financial risks after Trump victory   LONDON: Donald Trump's victory in the US presidential election has increased the threats to the world economy from higher interest rates and less trade, the Bank of England said on Wednesday.  The BoE also pointed to potential dangers from rapid Chinese credit growth or a disorganised British departure from the European Union in a half-yearly assessment of risks to Britain's financial system.  BoE Governor Mark Carney highlighted a big rise in US market interest rates since Trump's victory, which the Bank said ...