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Deutsche Bank to move 4,000 workers to Canary Wharf FRANKFURT: Deutsche Bank is preparing to move about 4,000 back office workers from five buildings in the City of London financial district to one in Canary Wharf in the east of the capital, where much of Britain's financial sector is now based.Deutsche said the move, scheduled to start towards the end of 2016, would increase efficiency and strengthen controls. It would mostly affect workers in technology and operations.The new office is located at 10 Upper Bank Street in Canary Wharf. It will house some 4,000 work spaces. The largest building to be exited is located at 6-8 Bishopsgate in the City.Deutsche Bank said the move was part of the its new Strategy 2020 plan, which is aimed at cutting costs, reducing investment banking operations and selling its Postbank retail chain.Copyright Reuters, 2015 ...

Indonesia central bank sees 2015 GDP growth at 5pc, credit growth slowing JAKARTA: Indonesia's central bank expects the economy to grow 5 percent this year, slightly slower than its previous 5.1 percent estimate, Bank Indonesia governor Agus Martowardojo said on Wednesday. He also told reporters that banking in Southeast Asia's largest economy remained healthy, but credit growth was slowing.Copyright Reuters, 2015 ...
Goldman may lose its way on Main Street NEW YORK: Goldman Sachs may get lost on Main Street. The investment banking powerhouse plans to meander off Wall Street and start lending money to average Joes and Joannes next year, the New York Times reported on Monday. Healthy returns probably await. A broader constituency of customers also could come in handy. It's a big strategic change, however, and one fraught with distractions and risks. The bank run by Lloyd Blankfein, with its $860 billion ...
Mexico central bank sells $52mn at 15.4203 pesos at daily auction MEXICO CITY: The central bank of Mexico sold $52 million on Tuesday at an average price of 15.4203 pesos per dollar, the bank said, part of an auction program to boost foreign exchange liquidity following a recent slide in the peso currency. Copyright Reuters, 2015 ...
ECB's Nowotny sees first signs of QE policy success VIENNA: The European Central Bank's asset purchase programme to boost the euro zone economy -- so-called quantitative easing (QE)-- is starting to bear fruit, ECB Governing Council member Ewald Nowotny said on Monday. "Quantitative easing policies have contributed significantly to economic recovery in the United States and there are first signs of success of these policies also in the European Union," he said in remarks prepared for a conference on long-term growth prospects.He said monetary ...
Bundesbank head: expansive monetary policy cannot tackle factors dragging growth FRANKFURT: Bundesbank President Jens Weidmann said on Monday that high debt and the resulting tax burden for companies and households could dampen growth in the euro zone, adding that this could not be tackled by making monetary policy more expansionary."The fact is that the factors named are all factors that burden growth and they cannot be eliminated by means of a monetary policy that is stability-oriented but more expansionary," he said in a speech to ...
Raiffeisen chairman says Russian business doing well VIENNA: Raiffeisen Bank International's business in Russia is doing well despite the weak local economy and political tensions over Ukraine, the Austrian bank's chairman told Kurier newspaper."We can't complain at all about the Russian bank," Walter Rothensteiner was quoted as saying in an interview published on Saturday, calling it "probably the best bank in Russia with a first-class group of customers".The crisis in Ukraine, where the bank's local business is losing money, was "unpleasant but ...

 



 
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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 01, 2015
Reserves $18.5 bln