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India central bank: banks must move to marginal cost for new base lending rate MUMBAI: India's central bank has asked banks to calculate their base lending rates on the basis of the marginal cost of funds instead of the current practice of average cost and to implement the new rules by April 1, 2016. The Reserve Bank of India wants banks' lending rates to be sensitive to policy rates, it said in a circular on draft base rate guidelines on Tuesday. Indian banks have been reluctant to lower their base lending rates, citing high cost of funds, despite the three policy rate cuts by the RBI. The RBI also urged banks to move to external financial benchmarks for pricing their deposits and loans in the medium term. Copyright Reuters, 2015 ...

Australia interest rates left at historic low SYDNEY: Australia's central bank left interest rates at the historic low of 2.0 percent on Tuesday, saying the economy was expanding moderately while inflation was contained. The Reserve Bank of Australia (RBA), which last lowered rates 25 basis points to 2.0 percent in May, added that the Australian dollar was also adjusting to lower commodity prices as a decade-long mining boom unwinds."The board today judged that leaving the cash rate unchanged was appropriate at this ...
Sri Lanka holds rates at record lows, closely monitors credit COLOMBO: Sri Lanka's central bank kept its key policy rates steady at record lows on Monday as expected, with inflation seen lower in the next few months, and said it was closely monitoring credit growth to avoid excessive expansion. The central bank left the standing deposit facility rate (SDFR) and the standing lending facility rate (SLFR) unchanged at 6.00 percent and 7.50 percent, respectively. The commercial banks' statutory reserve ratio was unchanged at 6.00 percent. ...
Mexico central bank sells $200mn in currency auction MEXICO CITY: The central bank of Mexico sold $200 million on Monday at an average price of 16.7617 pesos per dollar, the bank said, part of an auction program to boost foreign exchange liquidity following a slump in the peso. Copyright Reuters, 2015 ...
Turkish banks' Jan-July net profit rises 5.7pc ISTANBUL: Turkish banks' combined net profit rose 5.7 percent to 15.35 billion lira ($5.26 billion) in the first seven months of the year, data from the BDDK banking watchdog showed on Monday. The BDDK said bank assets at the end of July stood at 2.27 trillion lira, up 22.8 percent from a year earlier. Loans totalled 1.43 trillion lira at end-July, up 25.6 percent year-on-year. Copyright Reuters, 2015 ...
Bank of China to open Czech branch as Prague seeks closer ties with Beijing PRAGUE: Bank of China said on Monday it will open a branch in the Czech Republic, highlighting efforts by the two countries to boost business ties. China's fourth biggest commercial bank already has branches in Poland and Hungary, and plans to boost business in the region, said Wenbo Hou, the head of the team setting up the Prague branch. "Because CEE (central and east European) countries have big economic potential we will invest more in ...
China Construction Bank H1 net profit flat, hit by bad loans SHANGHAI: China Construction Bank (CCB), one of the country's biggest state banks, said net profit for the first half of the year were flat, hit by rising bad loans.The bank's net profit for the January-June period rose just under one percent year-on-year to 131.90 billion yuan ($20.64 billion), the bank said late Sunday, just a fraction higher than the 130.66 billion yuan for the same period last year.At the same time, its bad loans rose ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln