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China's AgBank Q3 net profit up 6pc, bad loan ratio rises SHANGHAI/HONG KONG: Agricultural Bank of China Ltd (AgBank),the country's third-largest lender by market value, reported a 6 percent rise in third-quarter net profit, slightly below analysts' estimates. The last of China's five biggest listed banks to report quarterly earnings, AgBank followed the others in showing a rise in its non-performing loan ratio as the country's economic slowdown hurts borrowers. Net profit rose 6 percent to 48.4 billion yuan ($7.92 billion) in the quarter, according to the bank's unaudited financial statements filed on Thursday. That was slightly below the average forecast of 50.4 billion yuan in a Reuters poll of analysts. AgBank's non-performing loan ratio increased to 1.29 percent at the end of September compared with 1.24 percent at end-June. China's bad loan levels were at 1.08 percent at the end of June, according to official data, the highest ratio since 2011. Copyright Reuters, 2014 ...

Deutsche Bank to help ECB run ABS purchase plan FRANKFURT: Deutsche Bank is one of several financial firms chosen by the European Central Bank to help carry out its plans to buy asset backed securities, two people familiar with the situation said on Thursday. The ECB plans to buy asset-backed securities, which repackage loans, later this year as part of a wider programme to stimulate the euro zone economy. Germany's Manager Magazin Online reported earlier on Thursday that Deutsche Bank was one of four ...
Russian central bank says minimum rate at 1-wk fx repo auction to be 2.1207pc MOSCOW: The minimum interest rate at a dollar repo auction to be held later on Thursday will be 2.1207 percent, the Russian central bank said in a statement.The bank has previously said that the auction will be for one-week repos with the volume limited to $2 billion. This follows an auction for 28-day dollar repos on Wednesday.Copyright Reuters, 2014 ...
Danske Bank beats forecast, lifts full-year profit guidance COPENHAGEN: Danske Bank reported third-quarter pretax profit above expectations on Thursday and raised its full-year profit guidance.The bank, Denmark's biggest by market capitalisation, said that pretax profit rose to 4.5 billion Danish crowns ($762 million), above the mean forecast of 4.24 billion crowns in a Reuters poll of analysts.The pretax profit figure is an increase of nearly 100 percent year on year, thanks to lower impairment charges, growth top line and flat costs. Danske Bank ...
National Australia Bank planning UK exit, FY net drops SYDNEY: Exiting the United Kingdon is an "absolute priority" for National Australia Bank, Chief Executive Officer Andrew Thorburn said after the bank posted a fall in annual cash profit, hit by writedowns for its troubled British business.Thorburn said on Thursday the bank needed "urgency" in dealing with its low-returning assets, including its wealth management arm. He did not specify measures that the bank could take to unlock value.NAB's UK business, which includes Yorkshire and Clydesdale ...
OCBC Q3 net profit up 62pc as loans surge, one-off China gain SINGAPORE: Oversea-Chinese Banking Corp , Singapore's second-biggest lender, reported a 62 percent rise in quarterly profit on Thursday, helped by a one-off gain from its China unit and strong loan growth.The S$1.23 billion net profit includes a fair value gain of S$391 million ($306.2 million) due to its increased stake in Chinese lender Bank of Ningbo, which became a 20 percent-owned subsidiary during the last quarter.Excluding that one-off gain, the net profit of S$841 million ...
Brazil shocks with interest rate hike in wake of election BRASILIA: Brazil's central bank raised interest rates on Wednesday, surprising investors with a bold move that signals President Dilma Rousseff could make more market-friendly policy changes after her narrow re-election victory on Sunday.In a divided vote, the central bank's board decided to raise its benchmark Selic rate by 25 basis points to 11.25 percent. All 43 economists surveyed in a Reuters poll this week expected the bank to keep the Selic at 11 percent.With the ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln