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Romania central bank holds rates at 5.25pc BUCHAREST: Romania's central bank kept its benchmark interest rate unchanged at 5.25 percent on Monday seeking to reconcile a weak economy with high inflation and a relatively weak currency.   Unlike Hungary, Poland and the Czech Republic which have cut interest rates to help their economies Romania has kept borrowing costs at 5.25 percent as inflation was at 4.6 percent in November, above the central bank's target band.   The bank has forecast end-2012 inflation at 5.1 percent, above its 2-4 percent target, mostly due to food prices. Analysts expect the economy grew 0.4 percent last year, less than initially estimated.   Meanwhile, debt yields have fallen and the leu currency has stabilised after a December parliamentary election gave the leftist government a landslide win.   But both remain vulnerable to potential new political tension between the government and rival rightist President Traian Basescu, as well as to a pending review of Romania's 5 billion euros aid deal ...

China SHANGHAI: China's money rates extended their fall on Monday, with dealers reporting that banks are eager to lend amid expectations that the central bank will use reverse repos to maintain liquidity.   The PBOC surprised the market over the weekend by issuing five-day reverse bond repurchase agreements on Saturday.    The central bank normally auctions seven-day repos on Tuesdays and Thursdays. The unusual five-day tenor allows the instrument to mature this Thursday, the same day as if a seven-day ...
Global regulator eases liquidity rules for banks  BASEL: The world's top banking regulatory body on Sunday eased the first global liquidity rules scheduled to start applying to banks in 2015 and aimed at improving their ability to survive financial crises.   The Basel Committee on Banking Supervision said at a press conference here that it had widened the definition of the easy-to-sell assets that banks will have to hold to survive periods of stress.   The Basel III standards had been initially proposed in 2010 but ...
UAE banks to ask central bank to soften mortgage rules  ABU DHABI: Commercial banks in the United Arab Emirates plan to ask the central bank to delay and soften new rules placing caps on mortgage loans for residential housing, banking industry sources said on Sunday.   A central bank circular last week said mortgage loans for foreign individuals should not exceed 50 percent of the property value for a first purchase of a home, and 40 percent for second and subsequent homes. The caps for UAE citizens ...
German bank regulator to probe pay awards at German banks: paper FRANKFURT: German regulator BaFin will scrutinise pay policies at two dozen top banks because of doubts over whether lenders are correctly implementing stricter bonus rules, Frankfurter Allgemeine Sonntagszeitung said.   Systemically relevant banks and staff who have been identified as "high level risk takers" including at Deutsche Bank are of particular interest, the paper said, citing a BaFin source.   Around 23 banks with a balance sheet size greater than 10 billion euros, and complex or international operations are ...
Bank of Ireland CEO sees early mortgage arrears flattening DUBLIN: Early stage mortgage arrears at Bank of Ireland have flattened over the past three months, chief executive Richie Boucher was quoted as saying on Sunday.   The bank said in a trading update in November that the rate of growth in mortgage arrears was slowing and Boucher told the Sunday Times in an interview that arrears at the early 30- and 60-day level had "flattened" for three months in a row.   Ireland's banking sector, which with the ...
China SPD bank profit up 25 pct in 2012  SHANGHAI: Profits at China's Shanghai Pudong Development Bank rose 25 percent year-on-year in 2012 to 34.16 billion yuan ($5.48 billion), according to a preliminary financial report published on the Shanghai Stock Exchange website late on Friday.   The rate of increase over the previous year was slower than the 42 percent it recorded in 2011 as a result of economic headwinds, official news agency Xinhua said on Saturday.   Earnings per share rose 25 percent to 1.831 yuan per ...

 



 
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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