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Bank of England keeps rates at record low LONDON: The Bank of England kept interest rates at a record low on Thursday as the risk of a new recession in the euro zone and caution from the U.S. Federal Reserve suggested a first increase in British borrowing costs might be delayed.The BoE's Monetary Policy Committee left Bank Rate at 0.5 percent, the level at which it has sat since the worst of the financial crisis five-and-a-half years ago.The decision to keep rates unchanged was expected by all 60 economists who took part in a Reuters poll.The MPC also said it remained committed to keeping at 375 billion pounds ($607.5 billion) the stockpile of assets which it acquired under its programme of government bond purchases.The MPC made no other statement on the outlook for monetary policy or the economy.Copyright Reuters, 2014 ...

JP Morgan names Mesmari head of UAE investment banking coverage DUBAI: JP Morgan Chase has appointed Majed al-Mesmari as its head of investment banking coverage for the United Arab Emirates, the US bank said in a statement on Thursday.Mesmari joins from Rothschild, where he was a director of global financial advisory services for five years.He will report to Karim Tannir, JP Morgan's head of investment banking for the Middle East and North Africa, the statement added.Copyright Reuters, 2014 ...
EBA asks Greece to tweak law on deferred tax for banks- paper ATHENS: The European Banking Authority (EBA) has asked Greece to adjust a recent law that allows its banks to boost their capital base by converting deferred tax assets into tax credits, Greek newspaper Kathimerini said on Thursday.The measure, which was voted into law last month, is seen saving banks around 2.5 billion euros ($3.2 billion) in core capital over 2015-16 and comes ahead of the EBA and European Central Bank's stress tests in October.The paper ...
Turkish central bank injects 1bn lira in repo, bids 1.98bn lira ISTANBUL: The Turkish central bank injected 1 billion lira ($442.5 million) into the market in a one-week repo auction on Thursday at a fixed simple rate of 8.25 percent, central bank data showed. Total bids for the repo, maturing on Oct. 16, were 1.98 billion lira. Copyright Reuters, 2014 ...
Kenya central bank in the market to mop up 5bn shillings NAIROBI: Kenya's central bank said on Thursday it was in the market to mop up 5 billion Kenyan shillings ($56.2 million) in excess liquidity from the money markets using seven-day repurchase agreements (repos) and term auction deposits. The central bank has frequently absorbed excess liquidity, a move that partly supports the shilling by making it more costly to hold dollars. The bank said it would also come to the market later in the session with ...
Spain's Bankia sells credit portfolio worth 335mn euros MADRID: Spain's Bankia on Thursday said it had sold a portfolio of credits related to real estate assets worth 335 million euros(427.76 million US dollar). In a press statement, Bankia said 226 million euros out of the total portfolio were backed by property guarantees. Copyright Reuters, 2014 ...
Bank of Italy says bad loans up 20pc in August MILAN: The Bank of Italy said on Thursday bad loans in the country rose 20 percent year-on-year in August while lending to companies and families continued to contract. In July, non-performing loans were up 20.5 percent on an annual basis. Lending to households was down 0.8 percent in August, from down 0.7 percent a month earlier, while credit to non-financial companies fell 3.8 percent after a contraction of 3.9 percent in July. Copyright Reuters, 2014 ...

 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln