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RBS says it will return surplus capital to shareholders EDINBURGH: Royal Bank of Scotland expects a substantial increase in its capital as a result of disposals over the coming years and intends to return excess capital to shareholders, Chief Executive Ross McEwan said. The bank, which is 78-percent owned by the government, said in February it would shrink its investment banking operations drastically, pulling out of 25 countries across Europe, Asia and the Middle East, to help it refocus on lending in Britain. It is also selling its US bank Citizens."As we reduce risk, and make expected divestments over the coming years, we anticipate a substantial increase in our capital as a result. Subject to approval, we intend to return any surplus capital to our shareholders," McEwan told the bank's annual meeting on Tuesday. Paying a dividend or buying back shares would make the bank more attractive to shareholders and help the government dispose of its stake. Prior to ...

ECB again increases emergency liquidity reserve for Greek banks ATHENS: The European Central Bank (ECB) again increased emergency liquidity funds for Greece's banks Monday, according to a Greek bank source who said the ECB may renew the hike "at any time" if necessary.The new increase of the ECB's Emergency Liquidity Assistance (ELA) was the third since Wednesday and came as Greek savers continued withdrawing their money in large volumes from the country's banks.Though the total amount of the new reserve was not divulged, the ...
Failure to reach Greece deal would be 'insane': bank chief LONDON: The head of Greece's biggest bank voiced optimism Sunday that the country would avoid a default, saying it would be "insane" if there was no deal with creditors.The clock is ticking for Athens to reach a deal with the European Union and the International Monetary Fund, with a key debt repayment due at the end of the month.But Louka Katseli, chair of the National Bank of Greece, told BBC radio on the eve of ...
SoftBank paid $135m to former Google exec Arora; reports TOKYO: Japan's telecom carrier SoftBank paid vice president and ex-Google executive Nikesh Arora a whopping $135 million in the year to March, reports said Saturday.The amount included a one-time, sign-on bonus for the Indian-born 47-year-old, according to the Nikkei business daily and the Asahi Shimbun.Arora gave up his high-profile post at the Internet search giant to join the Japanese firm in October last year.SoftBank's official filing showed it paid 16.556 billion yen ($135 million) to ...
Greek banks 'stable', government insists ATHENS: The Greek banking system is stable, the government said Friday ahead of an emergency European Central Bank session prompted by a rush of deposit withdrawals."The governor of the Bank of Greece has confirmed the stability of the banking system, which is fully safeguarded by the joint actions of the Bank of Greece and the European Central Bank," a government source said.Bank of Greece governor Yannis Stournaras had earlier met with the top Greek negotiator ...
Kenya's central bank says in market to mop up 5bn shillings NAIROBI: Kenya's central bank said on Friday it planned to mop up 5 billion shillings ($51 million) in excess liquidity from the money market. Absorbing excess liquidity makes it more expensive to hold dollars, which in turn supports the shilling KES=.Copyright Reuters, 2015 ...
Norway central bank cuts key rate to record low 1.0pc OSLO: Norway's central bank on Thursday cut its key interest rate to a record low one percent to counteract the impact of lower oil prices on the economy, and warned of a possible further cut."Developments in the Norwegian economy have been slightly weaker than expected and the economic outlook has deteriorated somewhat. The board has therefore decided to reduce the key policy rate now," central bank governor Oystein Olsen said in a statement. The quarter-point ...


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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln