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Thai Kasikornbank Q1 net profit up 18pc, beats forecast BANGKOK: Kasikornbank Pcl, Thailand's fourth-largest lender, reported a better-than-expected 18 percent rise in first-quarter net profit on Friday due to growth in loans to large corporate customers and lower operating costs.The bank posted a net profit of 11.9 billion baht ($369.85 million) in the January-March quarter, up from 10.1 billion a year earlier. It beat an average 11 billion baht forecast by 11 analysts polled by Reuters.However, loan and net profit growth is likely to decelerate this year, given the weak economy and domestic political unrest, which has prompted banks to adopt stricter loan criteria to prevent a build-up of bad debt. In line with several other banks, Kasikornbank has lowered its 2014 loan growth target to 7-8 percent from a previous target of 9-11 percent as it cut its GDP growth forecast for the year to 3 percent due to the impact of political unrest on the economy.Copyright Reuters, ...

Portugal gets another IMF bailout payment WASHINGTON: The International Monetary Fund released a bailout payment of 851 million euros ($1.18 billion) to Portugal on Thursday as the debt-riddled country gets close to exiting its three-year IMF-European Union rescue.The IMF executive board approved the payment, which brings the total amount disbursed under the program to 25.7 billion euros.The so-called "troika" of international lenders -- the IMF, the European Commission and the European Central Bank -- opened a 78-billion-euro credit lifeline to Portugal ...
Turkey's Vakifbank secures $995mn syndicated loan ISTANBUL: Turkey's Vakifbank secured a one-year syndicated loan in two tranches of $270.5 million and 525 million euros ($724.84 million) from international markets, the bank said on Thursday. The loan would have a total cost of LIBOR +0.90 percent and EURIBOR +0.90 percent respectively, the lender said in a statement with the Istanbul stock exchange. Copyright Reuters, 2014 ...
Turkish central bank injects 5bn lira in repo, bids 9.32bn ISTANBUL: The Turkish central bank injected 5 billion lira ($2.34 billion)into the market in a two-week repo auction on Thursday at a fixed simple rate of 10 percent, data showed. Bids totalled 9.32 billion lira for the repo, which matures on April 24. Copyright Reuters, 2014 ...
Thai TMB Bank cuts 2014 loan growth target after weak Q1 BANGKOK: Thailand's TMB Bank cut its 2014 loan growth target to between 6 percent and 8 percent, saying it was becoming more cautious as political tensions raise concerns about the economy. TMB Bank, the country's seven-largest lender, had previously forecast loan growth of 8 percent for the year. Its first-quarter loan portfolio, however, grew only 0.3 percent from the previous quarter, leading to the revision of the outlook, Chief Executive Boontuck Wungcharoen said in a ...
Oman's Bank Dhofar Q1 earnings beat estimates despite profit drop DUBAI: Bank Dhofar, currently in talks to merge with smaller rival Bank Sohar, beat analysts' expectations despite a 68.5 percent fall in first-quarter net profit as a one-off gain from last year wasn't repeated. Oman's second-largest bank by market value made a profit of 10.22 million rials ($26.6 million) in the opening three months of 2014 compared to 32.44 million rials in the prior-year period, a bourse statement said on Thursday.Four analysts polled by Reuters ...
Lloyds Bank says investors swap bonds for $98 million LONDON: Lloyds Banking Group said private retail investors who held bonds issued to rescue the bank during the 2008/9 financial crisis had agreed to swap them for 58.5 million pounds ($98.2 million) in cash. Lloyds, which is 25 percent owned by the government, also confirmed that institutional investors had agreed to exchange 5 billion pounds worth of the instruments, known as enhanced capital notes, for new bonds. The bank issued the bonds, which were designed ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln