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Citi targeting market share gains in equities in 2015 LONDON: US bank Citigroup is targeting market-share gains in equities in 2015, its European head of equities told Reuters, pointing to fresh technology investment and new hires as financial-market trading picks up. The comments echo a more optimistic stance from trading desks at global investment banks after a bumper quarter boosted by the European Central Bank's announcement of a bond-buying scheme to spur growth. "We are not pulling back in equities -- quite the opposite," Tim Gately said in an interview. "We continuously invest in technology, have made a number of senior hires and expect to grow our market and wallet share in 2015." First-quarter equities revenue grew at double-digit percentage rates for a number of US banks including Morgan Stanley and J.P.Morgan, though Citi bucked the trend with a one-percent decline in the quarter. Trading conditions for the industry are set to stay positive, said Gately, thanks to near-zero ...

Malaysia central bank holds rates steady, says policy accommodative KUALA LUMPUR: Malaysia's central bank left its overnight policy rate unchanged on Thursday, as widely expected, saying that capital spending and domestic demand will support the economy. Bank Negara Malaysia (BNM) left its key rate unchanged at 3.25 percent, reiterating that it remains accommodative to growth. "Investment activity is expected to be led by capital spending in the export-oriented industries, the services sector and for infrastructure projects," it said in a statement."These investments will cushion ...
Russia's Sberbank says its unit well placed for ECB stress tests MOSCOW: Russia's top lender Sberbank said on Thursday its Austrian unit, Sberbank Europe, was well placed to pass the European Central Bank's stress tests. "As to Sberbank Europe's capital adequacy, taking into account the recent capital increase and a subordinated loan from the parent bank, it significantly exceeds the regulator's requirements," Sberbank said in emailed comments. The ECB said on Wednesday it would carry out stress tests and balance sheet reviews on the Austrian units ...
UBS CEO says working to settle litigation cases ZURICH: UBS is working hard to settle litigation cases and hopes to give a further update soon, the Swiss bank's chief executive will tell investors at an annual shareholder meeting on Thursday. "We are working intensively on finding the best possible solutions to a number of important pending cases in the near future, and hope that we will be able to say more on this soon," Chief Executive Sergio Ermotti will tell the bank's annual ...
NAB to demerge UK unit after $4.4 billion fundraising SYDNEY/LONDON: National Australia Bank plans to raise $4.4 billion from investors after being told by Britain's financial regulator to provide $2.6 billion in capital support to its UK business before a planned demerger. The A$5.5 billion rights issue is one of the biggest in Australian corporate history. It will also enable the country's biggest lender to shore up its balance sheet ahead of an expected tightening of capital requirements at home. NAB said on Thursday ...
Dutch bank ING posts strong Q1 profit THE HAGUE: Leading Dutch bank ING on Thursday posted a sharp rise in first quarter net profit, boosted by a growth in lending and as the sale of its US-based insurance unit was finalised.The bank recorded a profit of 1.77 billion euros ($2.0 billion), a sharp reversal from the 1.92 billion euro loss over the same period last year, ING said in a statement.Last year's loss was attributed to ING's ongoing restructuring, as it sought ...
NAB in Australia's largest ever capital raise SYDNEY: National Australia Bank Thursday announced the country's biggest ever rights issue to raise Aus$5.5 billion (US$4.4 billion) while detailing plans to demerge its British banking business.The country's fourth biggest lender outlined its proposals as it posted a net profit of Aus$3.44 billion in the six months to March 31, a 20.4 percent jump from the previous year.Its cash profit, the industry's preferred measure which strips out volatile items, rose 5.4 percent to Aus$3.32 billion, ...


Index Closing Chg%
Arrow DJIA 18,041.54 1.04
Arrow Nasdaq 5,032.75 1.11
Arrow S&P 2,104.20 1.03
Arrow FTSE 6,948.99 1.18
Arrow DAX 11,625.13 1.61
Arrow CAC-40 5,083.54 0.66
Arrow Nikkei 20,437.48 0.12
Arrow H.Seng 28,249.86 0.92
Arrow Sensex 27,531.41 0.41

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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 $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln