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BNP Paribas says Poland job cuts could reach 1,800 PARIS: BNP Paribas plans to cut up to 1,800 jobs as part of a merger of Bank BGZ, which it bought last year, with BNP Paribas Polska, a spokesman for the French bank said on Friday.Polish regulators gave the bank approval to merge the two companies on Thursday. The bank had to set a maximum level of job losses under local regulations, the spokesman said."The limit was set during the discussions. The plan runs over two years and it's absolutely not certain to reach 1,800. It's a maximum," the spokesman said, confirming a report in French newspaper Les Echos.BNP Paribas bought Bank BGZ from Rabobank last year for 4.5 billion zlotys ($1.19 billion) as part of a plan to expand in higher-growth markets.Copyright Reuters, 2015 ...

UniCredit board approves launch of bad loans vehicle with Intesa, KKR MILAN: The board of UniCredit, Italy's largest bank by assets, has approved a plan to set up a pool of restructured loans with domestic rival Intesa Sanpaolo and US private equity firm KKR, UniCredit's chief executive said on Thursday. The banks hope that combining problem loans with the benefit of outside expertise and capital will make the debt easier to recover or to sell to third parties. Under the plan UniCredit and Intesa will pool ...
Russian net capital outflow $32.6 billion in Q1 MOSCOW: Russia saw a net capital outflow of $32.6 billion by companies and banks in the first quarter of 2015, according to estimated balance of payments data published by the Russian central bank on Thursday. The surplus on Russia's current account amounted to $23.5 billion in the first quarter, with the trade surplus at $40.3 billion, the central bank estimates showed. Copyright Reuters, 2015 ...
Brazil banking shares sink on concern of higher tax burden SAO PAULO: Shares in the largest Brazilian listed banks fell on Thursday on concern the government might be preparing steps to raise taxation of commercial banking activities to help plug a swelling budget deficit. According to weekly magazine Exame, Finance Minister Joaquim Levy told Febraban, the group representing the nation's banks, that the government is considering increasing a type of income taxes known as CSLL to 17 percent from 15 percent currently. The magazine did ...
HSBC says facing French criminal probe over 'SwissLeaks' LONDON: British banking giant HSBC said Thursday it is facing a French criminal probe over its Swiss private banking arm, weeks after "SwissLeaks" allegations it had helped clients hide billions from the taxman.HSBC said in a statement that "it has been placed under formal criminal investigation by the French magistrates in connection with the conduct of HSBC's Swiss Private Bank in 2006 and 2007 for alleged tax-related offences".The probe is in addition to one launched ...
Bank of Japan holds off further easing measures TOKYO: The Bank of Japan held off further easing measures on Wednesday as it struggles to drag up the country's flatlining inflation that is defying a massive stimulus programme launched two years ago.The central bank stayed pat on its record stimulus programme, which is adding about 80 trillion yen ($663 billion) to the money supply every year.After a two-day meeting, the BoJ said in a statement consumer inflation was likely to be about zero "for ...
Turkish central bank opens 1bn lira repo auction ISTANBUL: Turkey's central bank opened a 1 billion lira ($386 million) one-week repo auction on Wednesday, bank data showed.Copyright Reuters, 2015 ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln