01192017Thu
Last update: Thu, 19 Jan 2017 05am

Banking & Finance

Business & Finance - Banking & Finance

Saudi bank Samba Financial raises H2 2016 dividend DUBAI: The board of Samba Financial Group , Saudi Arabia's third-largest bank by assets, has proposed a dividend of 0.50 riyals ($0.13) per share for the second half of 2016, it said in a bourse statement. The proposed figure is higher than the 0.45 riyals per share which the bank paid for the corresponding period of 2015.Copyright Reuters, 2017 ...

Business & Finance - Banking & Finance

Deutsche Bank chairman rules out European merger BERLIN: Deutsche Bank Chairman Paul Achleitner has ruled out a European merger or a state bailout after the lender's mortgage settlement with the US Department of Justice, Frankfurter Allgemeine Sonntagszeitung reported. The bank, Germany's biggest, last week announced a $7.2 billion settlement with the US Department of Justice over its sale and pooling of mortgage securities in the run-up to the 2008 financial crisis. "The management board in principle looks at everything that could help ...

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State Bank of India cuts lending rate by 90 bps across maturities MUMBAI: State Bank of India, the country's biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits.After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 percent from 8.65 percent, while three-year loan rates will now be 8.15 percent from 9.05 percent previously.Lending rates were also cut across ...

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ECB's Coeure says policy normalisation must be discussed carefully FRANKFURT: The European Central Bank has not discussed ending its asset-purchase programme, ECB Executive Board Member Benoit Coeure told a German newspaper, though he said that would have to happen at some point. "There is no plan to cut back the purchases to zero. That wasn't even discussed by the Governing Council. A discussion will be needed about normalisation of monetary policy but it needs to be initiated carefully," he told daily Boersen-Zeitung in an ...

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Italy criticises ECB over Monte Paschi capital decision MILAN/FRANKFURT: The European Central Bank should have explained more clearly why it nearly doubled its estimated capital shortfall for the ailing Monte dei Paschi di Siena bank, which is being bailed out by the state, Italy's economy minister said. In unusually critical comments of the euro zone's single banking supervisor, Pier Carlo Padoan said in a newspaper interview the ECB's new capital target was the result of a "very rigid stance" in its assessment of ...

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Euro forefather Tietmeyer dies aged 85 FRANKFURT AM MAIN: Former Bundesbank president Hans Tietmeyer, a key architect of the euro who oversaw its introduction in Germany, has died at the age of 85, the central bank announced Wednesday.Tietmeyer ran the mighty Bundesbank from 1993 to 1999, a period that straddled the aftermath of German reunification as well as the launch of the single European currency and the creation of the European Central Bank."Hans Tietmeyer was an outstanding president, who always acted ...

Business & Finance - Banking & Finance

ECB's Weidmann says Monte dei Paschi bailout must be carefully weighed FRANKFURT: European Central Bank policymaker Jens Weidmann said plans for a state bailout of Italian bank Monte dei Paschi di Siena should be weighed carefully as many questions remain to be answered, according to German newspaper Bild. "For the measures planned by the Italian government the bank has to be financially healthy at its core. The money cannot be used to cover losses that are already expected," Bild quoted Weidmann as saying in a summary ...