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BNP Paribas chairman resigns: company PARIS: The chairman of BNP Paribas has resigned, some three months after the French bank was hit by a record $8.9 billion fine for violating US sanctions, the bank said.Baudoin Prot, 63, who has headed the bank since 2011, was stepping down as of December 1 "for personal reasons," the bank said in a statement following a meeting of the board late on Friday.Prot will be replaced by Jean Lemierre, 64, one of his close advisors and a key figure in negotiating BNP Paribas's settlement with US authorities.Prot's resignation, which was first reported by a source close to the matter on Tuesday, comes almost three months after the giant French bank pleaded guilty to US criminal charges of violating sanctions on Iran, Sudan and other countries.Prior to becoming chairman, Prot served as chief executive of BNP Paribas from 2003-2011, the period in which many of the violations of US sanctions ...

Trial pits ex-AIG chief vs US over '08 bailout NEW YORK: Six years after the financial crisis brought Wall Street to its knees, a Washington trial starting Monday will force policy makers to defend the drastic measures they took to prevent a deeper collapse.A lawsuit lodged by former American Insurance Group chief Hank Greenberg will revisit the monumental government decision of September 2008 to seize control of the world's largest insurance company.Greenberg's case maintains that US officials effectively stole AIG from shareholders in exchange ...
Colombia central bank seen holding rate to bolster slower growth BOGOTA: Colombia's central bank is expected to hold the key interest rate steady for the first time in six months as policymakers judge the lending rate may be reaching a neutral level while the economy needs help to maintain growth. A Reuters poll this week showed 29 of 36 analysts expect the policy board to keep the rate steady at 4.5 percent, the highest since October 2012, as it eases off a spate of monetary ...
Turkish central bank sells $40mn in forex auction, bids $81mn ISTANBUL: Turkey's central bank sold $40 million in a forex auction on Friday after receiving bids of $81 million, bank data showed. The average price was 2.2604 lira and the lowest price was 2.26 lira, it said. Copyright Reuters, 2014 ...
Morgan Stanley, StanChart picked to manage India share sales MUMBAI: Morgan Stanley and Standard Chartered are among six banks picked to manage the sales of shares in two state-run Indian companies, sources directly involved in the deals said on Friday. The combined sales, worth about $470 million at current market values, are part of government plans for a record $10.5 billion in asset sales in the year to March to help plug a budget deficit. Morgan Stanley and Indian banks JM Financial and Avendus ...
Philippine central bank says sees Sept annual inflation at 4.1-4.9pc MANILA: The Philippines' annual inflation rate will probably hold steady or even slow in September due to lower prices of selected food items, power and some oil products, the head of the central bank said on Friday. Governor Amando Tetangco said the bank expected annual inflation in September to be anywhere between 4.1-4.9 percent. The headline consumer price index rose 4.9 percent in August from a year earlier, matching the rate in July. However, core ...
Thai central bank sees no rise in 2014 exports, cuts 2015 GDP growth forecast BANGKOK: Thailand's central bank said on Friday the country's pivotal exports won't grow at all this year, but maintained the economy can still grow 1.5 percent in 2014 assuming the government can jack up spending in the last quarter. The Bank of Thailand (BOT) also cut its economic growth forecast for next year to 4.8 percent from the 5.5 percent it predicted in June. Three months ago, the central bank projected a 3.0 percent increase ...

 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln