Just in:  

You are here: Home»Business»Banking & Finance

Banking & Finance


Lending income lifts Barclays Africa, FY earnings up 10pc JOHANNESBURG: Barclays Africa Group posted a 10 percent rise in full-year earnings on Tuesday, in line with expectations, after booking higher lending income and cutting bad debts.The African subsidiary of Barclays Plc said diluted headline earnings per share totalled 1,537.5 cents in the year to end-December, from 1,396.6 cents a year earlier.Analysts had pencilled a 9 percent increase in earnings.Headline EPS, which excludes certain items, is the main measure of profit in South Africa.Barclays said net interest income - the measure of income from lending - climbed 10 percent to 35.6 billion rand ($3 billion) while credit impairments contracted 10 percent to 6.3 billion rand.Non-interest revenue came in 2 percent higher to 27.5 billion rand.Barclays, South Africa's third-biggest lender by market value, is the second of the "big four" banks there to report full-year earnings.Fourth-ranked Nedbank posted a 13 percent rise in earnings last month, boosted by higher lending income ...

Big US banks batten down as tighter regulation looms NEW YORK: Faced with increased regulation beginning in 2017, the major US banks are taking a number of restructuring steps, shedding staff and some speculative businesses, and cutting bonuses.Taking a machete to expenses, banks are speeding up disinvestments, trimming administrative budgets and turning to automation to replace employees in a broad array of banking operations, including online.The largest US bank in terms of assets, JPMorgan Chase, plans to save nearly $5 billion by 2017, and ...
Fed awards $118.21bn reverse repos Monday NEW YORK: The Federal Reserve on Monday awarded $118.21 billion of overnight fixed-rate reverse repurchase agreements to 51 bidders at an interest rate of 0.05 percent, the Federal Reserve Bank of New York said on its website.On Friday, the U.S. central bank allotted $155.00 billion in three-day reverse repos to 69 bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent.Demand for the Fed's ...
Deutsche Bank co-CEO to face trial on false testimony charges     FRANKFURT: Deutsche Bank co-chief Juergen Fitschen will face trial in April on allegations he gave false evidence in a long-running legal battle with the defunct Kirch group, the court said Monday. Fitschen and four others -- ex-CEOs Rolf Breuer and Josef Ackermann and former executives Clemens Boersig and Tessen von Heydebreck -- were all indicted last September and charged with the alleged attempted deception in the long-running case. All five have denied any wrongdoing.The higher ...
Ukraine's central bank offers to buy dollars at 26.86 hryvnia KIEV: Ukraine's central bank offered on Monday to buy dollars at a rate of 26.86 hryvnias on the interbank market, following three interventions last week to limit volatility for the struggling national currency.On Friday, the bank bought $62.35 million at a rate of 27.5 hryvnias to the dollar. The hryvnia has halved in value so far in 2015, having weakened 50 percent last year. On Monday, the average rate of bank trades for Ukraine's hryvnia ...
Russian central bank seen holding rates as inflation soars MOSCOW: Russia's central bank will hold its interest rates steady this month as inflation stays in double digits despite an economic slump, a Reuters poll predicted on Monday. The economy is set to see its first recession this year since the aftermath of the global financial crisis as sanctions imposed on Moscow for its role in the Ukraine conflict and a sharp drop in oil prices bite. These pressures have also led to a steep ...
Deutsche Bank bets big on US for investment bank growth NEW YORK: From its tower on Wall Street, Deutsche Bank enjoys a commanding view of lower Manhattan. Its target is to gain a presence in investment banking which is nearly as dominant. As Germany's largest bank prepares to announce a new strategy, possibly before the end of this month, it is packing its ranks with Wall Street veterans and preparing to give its division focused on capital markets, trading and advisory an even bigger role. ...


Index Closing Chg%
Arrow DJIA 18,096.90 0.58
Arrow Nasdaq 4,967.14 0.26
Arrow S&P 2,098.53 0.44
Arrow FTSE 6,919.24 0.44
Arrow DAX 11,390.38 0.98
Arrow CAC-40 4,917.35 0.99
Arrow Nikkei 18,703.60 0.59
Arrow H.Seng 24,465.38 0.96
Arrow Sensex 29,380.73 0.72

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln