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Deutsche Bank announces 965mn euro loss in 4Q of 2013 BERLIN: Deutsch Bank, Germany's biggest bank, announced late Sunday a surprise net loss of 965 million euros ($1.3 billion) in the fourth quarter of 2013 because of litigation costs and weakening revenues.In a statement issued more than a week earlier than markets expected, co-CEOs Juergen Fitschen and Anshu Jain gave the loss figure, which amounted to 1.2 billion euros before taxes."We expect 2014 to be a year of further challenges and disciplined implementation; however, we are confident of reaching our 2015 targets and delivering on our strategic vision for Deutsche Bank," they said.The bank will post an overall 2013 net profit of 1.08 billion euros, they said.It set aside 2.5 billion euros over the year to address lawsuits by US and EU market authorities over a raft of issues, including the rigging of interbank lending rates and alleged hiding of the risks of US subprime mortgages.Provisions to respond to litigation ...

Thai central bank seen cutting key rate again on Wednesday BANGKOK: The Bank of Thailand's monetary policy committee is likely to cut its benchmark interest rate by 25 basis points for a second straight meeting on Wednesday to help the economy cope with prolonged political unrest, a Reuters poll showed.Anti-government protests in Bangkok, which have entered their third month, have hurt confidence and tourism as well as delayed public investment spending. There is no resolution to the crisis in sight but more violence is expected ...
Qatar Islamic Bank Q4 net more than triples, beats expectations DUBAI: Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, more than tripled its fourth-quarter net profit, beating analysts' expectations. QIB made a net profit of 364.9 million riyals ($100.2 million) during the three months to Dec. 31, according to Reuters calculations, compared with 110.6 million riyals in the same period a year ago. Analysts polled by Reuters had, on average, forecast a net profit of 316.5 million riyals for the quarter. ...
Russia's central bank shifts boundaries of rouble's floating corridor MOSCOW: Russia's central bank has shifted its target exchange-rate corridor for the rouble by five kopecks, following market interventions to curb the pace of the currency's decline. The new corridor extends from 33.30 to 40.30 roubles to the dollar-euro currency basket as of Jan. 17, compared to 33.25-40.25 previously. Under its managed float, the central bank increases its interventions as the rouble approaches the boundary of the corridor. Once an intervention allotment of $350 million ...
Deutsche Bank posts surprise Q4 loss as scandals weigh FRANKFURT: Deutsche Bank posted a surprise pre-tax loss of 1.15 billion euros for the fourth quarter due to heavy costs for litigation and restructuring, and warned that 2014 would be another year of further challenges and reform. The unexpected loss is likely to compound the problems that have dogged the bank over the past year, especially a lengthening list of lawsuits and regulatory matters, and to redouble pressure on co-chief executives Anshu Jain and Juergen ...
Deutsche Bank announces 1.2bn euro pre-tax loss in 4Q of 2013 BERLIN: Deutsch Bank, Germany's biggest bank, announced late Sunday a pre-tax loss of 1.2 billion euros ($1.62 billion) in the fourth quarter of 2013 because of litigation costs and weakening revenues.In a statement issued more than a week earlier than markets expected, co-CEOs Juergen Fitschen and Anshu Jain said: "We expect 2014 to be a year of further challenges and disciplined implementation; however, we are confident of reaching our 2015 targets and delivering on our ...
HSBC, Citi suspend traders as FX probe deepens LONDON: HSBC and Citigroup both suspended foreign exchange traders on Friday as a global probe into possible currency market manipulation intensified. Regulators from the United States arrived in London this week, stepping up an investigation in which they are working with Britain's financial watchdog to determine whether traders at some of the world's biggest banks colluded to manipulate the $5.3 trillion-a-day foreign exchange market. The investigations centre on senior traders' communication of ...

 



 
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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%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln