Tuesday, 28 May 2013 16:44
Posted by Muhammad Iqbal
LISBON: Portugal's deep recession means credit risks will persist for the country's lenders, even if levels of bad loans in the banking system have fallen since early last year, its central bank said on Tuesday.The Bank of Portugal said that the banks were benefiting from better access to funding and deposits were rising again after a dip in 2012."We have witnessed a slight reduction in bad loans since the first quarter of 2012," it said in its financial stability report.Bad loan impairment hurt Portuguese banks' earnings last year and in the first quarter of 2013. Most of them posted losses over the period.Portugal is navigating through its third year of recession under a demanding 78-billion euro EU/IMF bailout programme that is scheduled to end halfway through next year.The central bank said individual bank deposits dropped 2.3 percent last year following a sharp rise in 2011, but bounced back again in ...
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LISBON: Portugal's deep recession means credit risks will persist for the country's lenders, even if levels of bad loans in the banking system have fallen since early last year, its central bank said on Tuesday.The Bank of Portugal said that the banks were benefiting from better access to funding and deposits were rising again after a dip in 2012."We have witnessed a slight reduction in bad loans since the first quarter of 2012," it said in its financial stability report.Bad loan impairment hurt Portuguese banks' earnings last year and in the first quarter of 2013. Most of them posted losses over the period.Portugal is navigating through its third year of recession under a demanding 78-billion euro EU/IMF bailout programme that is scheduled to end halfway through next year.The central bank said individual bank deposits dropped 2.3 percent last year following a sharp rise in 2011, but bounced back again in ...
PUNE: The Reserve Bank of India is likely to take steps to address the tight liquidity situation in the banking system, Deputy Governor H.R. Khan said on Tuesday.The RBI was making an assessment on the liquidity situation, Khan told reporters on the sidelines of a central bank event, responding to a question on the timing of open market operations.The deputy governor also said the government's cash balance was "quite substantial", which is an indicator of ...
ZURICH: Credit Suisse's chairman warned that a long-running tax dispute with the United States over hidden Swiss bank accounts could easily escalate and spill over to rivals if not settled."What looks to be a painful solution at first glance is better for everyone than none at all," Urs Rohner was quoted as telling the Neue Zuercher Zeitung daily on Tuesday.Rohner's comments come as the Swiss government said it hopes it is nearing a deal with ...
SINGAPORE: British banks HSBC Holdings plc and Standard Chartered plc sold 1.5 billion yuan ($244.63 million) worth of notes in Singapore on Monday in the first dim sum bond issuances since yuan-clearing became available in the city-state.China has been relaxing controls on the yuan, officially referred to as the renminbi or RMB outside the country, in order to gradually increase the use of its currency abroad.Industrial and Commercial Bank of China has begun yuan-clearing in ...
DUBAI: Peru's central bank now expects gross domestic product (GDP) growth for 2013 at 6.1 percent, Julio Velarde, president of the country's central bank, said on Monday.Velarde had said earlier in May that the central bank might trim its forecast for 2013 growth in Peru to 5.9 percent or 6 percent from 6.3 percent, when it issues its next quarterly outlook in late June.Economists have been trimming Peru's growth forecasts for 2013 after the country ...
NAIROBI: Kenya's central bank sought to mop up 21 billion shillings ($249.11 million) from the market on Monday through repurchase agreements (repos) and term auction deposits.The bank has regularly soaked up liquidity since last year to support the shilling by making it slightly more expensive to fund long dollar positions.Copyright Reuters, 2013 ...
TOKYO: Bank of Japan Governor Haruhiko Kuroda said the country's financial institutions have sufficient buffers against losses they may incur from rises in bond yields, as long as the market moves are driven by prospects of an economic recovery.The central bank will also be vigilant to any signs of overheating of asset prices or excessive risk-taking by financial institutions, the BoJ chief said, adding that there were no signs of that now."Japan's financial system as ...
