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Indonesia central bank puts June trade deficit at around $300mn JAKARTA: Indonesia's trade balance likely slipped back into deficit of around $300 million last month, central bank governor Agus Martowardojo said on Monday. He also said the current account deficit for this year would be around 3 percent of GDP. A previous central bank estimate predicted it would be less than 3 percent. The governor told reporters that imports were still increasing, pointing to a wider deficit in oil and gas by the former OPEC member. In May, Indonesia posted a small surplus of $70 million. Copyright Reuters, 2014 ...

China June new bank loans 1.08 trillion yuan, beat expectations BEIJING: Chinese banks lent 1.08 trillion yuan ($173.90 billion) worth of new yuan loans in June, beating expectations of 915 billion yuan, central bank data showed on Tuesday, as Beijing stepped up efforts to stimulate the economy. Broad M2 money supply jumped 14.7 percent last month from a year earlier, the People's Bank of China said in a statement on its website, also higher than a forecast of 13.5 percent in a Reuters poll of ...
BoJ stands pat on policy, trims economic forecast TOKYO: The Bank of Japan kept monetary policy steady on Tuesday and slightly trimmed its economic growth forecast for the current fiscal year, reflecting soft exports and a bigger-than-expected slump in household spending after the April sales tax hike. In a quarterly review of its long-term projections, the central bank maintained its forecast that consumer inflation will gradually accelerate towards its 2 percent target next year. As widely expected, the BoJ voted unanimously to maintain ...
Citigroup to pay $7bn subprime mortgage settlement: report NEW YORK: Federal regulators and Citigroup are set to announce Monday a $7 billion settlement to resolve charges that the bank sold faulty mortgage-backed securities ahead of the 2008 financial crisis, US media reported.The deal ends months of negotiations between US Treasury Department investigators and Citigroup, people briefed on the matter told The New York Times.Citigroup initially proposed paying $363 million, while the Department of Justice was seeking $12 billion and threatening to sue the ...
Malaysian CIMB mega bank merger comes with 'risks': Fitch KUALA LUMPUR: Ratings agency Fitch warned on Monday that a merger plan by Malaysia's second largest bank CIMB Group with RHB Capital and Malaysia Building Society to create the country's biggest lender was fraught with risk."The proposed merger of CIMB, RHB and Malaysia Building Society (MBSB) is ambitious, and will bring inherent challenges and risks for the new banking group amid a complex integration process," Fitch Ratings said in a statement.Last week, CIMB, RHB Capital, ...
Sri Lanka holds rates at multi-year lows for 6th straight month COLOMBO: Sri Lanka's central bank on Monday kept policy rates steady at multi-year lows for a sixth straight month, as expected, and said it anticipates that previous cuts will bring lower lending rates to more sectors of the economy. Between December 2012 and January 2014, the central bank cut the repurchase rate by 125 basis points (and the reverse repurchase rate by 175 bps to stimulate growth. Despite the policy-easing measures, growth of credit extended ...
China's June fiscal spending jumps 26.1pc y/y BEIJING: China's fiscal expenditure surged 26.1 percent in June from a year earlier to 1.65 trillion yuan ($265.84 billion), the finance ministry said on Monday, reflecting the government efforts to speed up spending to shore up the economy. The spending growth accelerated from a rise of 24.6 percent in May. China's fiscal revenues rose 8.8 percent in June from a year ago to 1.3 trillion yuan, the ministry said in a statement.The government reports second-quarter ...

 



 
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Banking Review 2013


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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln