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ANZ says to sell financing unit with loans worth $6.5bn SYDNEY: Australia and New Zealand Banking Group said it plans to sell its car and equipment finance business, which has $6.5 billion worth of outstanding customer loans, in a bid to cut its capital requirements under tough new rules. ANZ Australia CEO Mark Whelan did not specify an expected price but local media had said the business may fetch about A$2 billion ($1.57 billion). The sale is part of a broader restructuring aimed at ensuring the bank uses its capital efficiently, Whelan said in a statement. The bank, Australia's third-largest lender by market capitalisation was widely expected to sell the unit, Esanda, as part of an industry-wide reshuffle of financial loan books to comply with rules aimed at increasing the relative amount of cash lenders keep in reserve. The announcement also comes a day before the bank is due to report half-yearly earnings which are expected to show profit margins ...

Polish banks see credit demand growing strongly in Q2: survey WARSAW: Polish banks expect a considerable increase in demand for corporate, housing and consumer loans in the second quarter of 2015, as investments grow and lenders relax their borrowing rules, a survey showed on Monday. The survey, conducted by the central bank among senior loan officers of 26 banks, showed small and medium companies in particular were likely to benefit. The survey was conducted after the Polish central bank announced an end to its rate-cutting ...
ANZ to sell loans worth $6.5bn in dealer finance biz SYDNEY: Australia and New Zealand Banking Group on Monday said it plans to sell its Esanda dealer finance business, which includes A$8.3 billion ($6.51 billion) in loans to motor vehicle dealers."The sale of the Esanda Dealer Finance business is part of a broader group priority to actively manage our portfolio of businesses to ensure we use capital efficiently, as well as a focus on ANZ-branded products," ANZ Australia CEO Mark Whelan said in a statement.The ...
Irish central bank governor confirms decision to retire DUBLIN: Irish Central Bank Governor Patrick Honohan confirmed on Friday that he intends to retire at the end of the year, nine months before his seven-year term was due to end. Honohan, who was appointed in September 2009 at the height of Ireland's financial crisis, said it was a good time to retire as the bank was moving from a crisis management phase to one of repair and consolidation "That is more an implementation phase, ...
Lloyds revival makes retail offer unnecessary LONDON: The revival of Lloyds Banking Group removes the need for the UK government to sell shares in the lender to the British public. The Conservative Party has pledged to do this if it wins the UK's general election on May 7. Moreover, the UK lender's solid first-quarter results may have reinforced Chancellor George Osborne's thinking. Losses from bad debts dropped 59 percent from a year ago, and fresh charges for retail insurance misselling were ...
Commerzbank shareholders reject bigger bonuses BERLIN: Shareholders of Commerzbank, Germany's second largest bank, rejected a proposal Thursday to pay bankers bigger bonuses.At the annual general meeting in Frankfurt, only 64.7 percent of shareholders voted in favour of it, short of the 75 percent required to adopt the move, the bank said.The bank had wanted to be able to pay out top performance-based bonuses to some bankers that would have been worth 200 percent of the basic wage.Such bonuses drew heavy ...
Peru sees deficit rising to 2pc of GDP on stimulus spending LIMA: Peru's budget deficit will rise to 2 percent of gross domestic product this year as the government boosts spending to try to jump-start sluggish economic growth, a finance ministry report estimated on Thursday.The finance ministry had forecast a deficit of 0.4 percent of GDP in its last macroeconomic report in August before the government began rolling out additional measures to counter a sharp economic slowdown.Last year Peru posted a deficit of 0.2 percent of ...


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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
WeeklyMay 21, 2015
Reserves $17.75 bln