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RBS looking at merger options for Ulster Bank DUBLIN: State-controlled Royal Bank of Scotland has commissioned investment bank Morgan Stanley to advise it on potential merger opportunities for its Irish unit, Ulster Bank, the business's chief executive was quoted as saying on Friday. Ulster Bank, which is the biggest bank in Northern Ireland and the third largest in the Republic of Ireland, has racked up losses of 2.5 billion pounds ($4.2 billion) over the past two years. It accounts for less than 4 percent of RBS's assets but was responsible for 20 percent of its bad debt charges last year. "We think there may be further consolidation in the market. We're looking to see if Ulster Bank can play a part in that," Jim Brown said in an interview in the Irish Times newspaper. "There are a number of smaller institutions, without getting into the specifics, and there may be opportunities with those in terms of fulfilling our ...

Kenya central bank says in market to mop up 4bn shillings NAIROBI: Kenya's central bank said on Friday it was in the money market to mop up 4 billion shillings ($46.25 million) in excess liquidity. By mopping up liquidity, the bank makes it relatively costlier to hold onto long dollar positions, which in turn helps strengthen the shilling.Copyright Reuters, 2014 ...
UniCredit to spend up to $14bn on buying state debts to firms MILAN: UniCredit is prepared to spend up to 10 billion euros ($14 billion) to take on payments owed to companies by Italy's public administration, the bank's chief executive said in a newspaper interview on Friday. "We have up to 10 billion euros for these operations," Ghizzoni told Italian newspaper La Repubblica, adding that the public administration would have to confirm the validity of the claims before the country's biggest bank by assets took on the ...
Spanish public debt hits new record in 2013 MADRID: Spain reported Friday its public debt soared to a new record high in 2013 despite a slew of budget-cutting measures, ballooning to nearly 94 percent of the economy's entire annual output.Public debt in the eurozone's fourth-largest economy leapt to the equivalent of 93.9 percent of gross domestic product in 2013, up sharply from 86 percent in 2012, the central bank said. In 2007, Spanish public debt represented just 36.3 percent of GDP.Copyright AFP (Agence ...
Indonesia holds key interest rate at 7.5pc JAKARTA: Indonesia's central bank held its benchmark interest rate at 7.50 percent Thursday for the fourth consecutive month as Southeast Asia's top economy showed signs of recovery from a tumultuous 2013.Indonesia's currency has strengthened in recent months after plunging by more than 20 percent last year and inflation is easing after almost doubling in 2013 from the previous year.Bank Indonesia governor Agus Martowardojo said earlier Thursday that the bank would not tolerate inflation beyond the ...
Singapore to regulate Bitcoin exchanges, vendors SINGAPORE: Singapore's central bank said Thursday it will regulate "intermediaries" for the Bitcoin virtual currency to prevent them from being used for money laundering and terrorist financing.Intermediaries such as Bitcoin exchanges and operators of vending machines were "particularly vulnerable" to being used for such purposes, the Monetary Authority of Singapore (MAS) said in a statement.MAS said it will introduce regulations requiring middlemen that "buy, sell or facilitate the exchange of virtual currencies for real currencies ...
Indonesia central bank holds policy rate unchanged at 7.50pc, as expected JAKARTA: Indonesia's central bank held its benchmark reference rate unchanged at 7.50 percent on Thursday, as widely expected because pressures over the inflation rate and the rupiah have eased.All 15 analysts in a Reuters poll had projected Bank Indonesia (BI) to keep its reference rate on hold on Thursday.Between June and November, BI raised the benchmark rate by 175 basis points to 7.50 percent to calm markets jittery about the large current-account deficit, sliding rupiah ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln