International Finance

Category : Banking

HSBC is “Numero Uno” among European Banks

HSBC has gone past France and Germany’s largest lenders to take the top spot on a league table of Europe’s biggest banks as its assets grew to more than 2 trillion Euros ( £ 1.7 trillion).  June 11, 2013 : International Finance Magazine, reports on the rise of the bank, its rapid growth and its role...

Premier League Revenue Rises to £ 3 Billion Pounds for First Time

English Premier League clubs will enjoy a revenue boost of almost 25 percent next season due to new television deals. June 10, 2013 : The combined revenue of the 92 clubs of England’s top four division’s football is estimated to be more than 3 billion pounds ($ 4.6 million) for the first time next season. According...

RBA leaves rate unchanged at 2.5%

RBA chief Glenn Stevens has rightly configured the monetary policy to foster sustainable growth in demand and contain inflation, reports TEAM IFM Sydney, June 10: The Australian central bank has kept its key rate unchanged at 2.5 percent for the 10th straight month as a mining investment slowdown has impacted growth resulting in the need for...

RBI takes steps to spur bank lending

Indian central bank’s pragmatic moves will help the new government stick to prudent fiscal management and usher in broader reforms, reports Team IFM New Delhi, June 10: India’s central bank chief Raghuram Rajan Tuesday eased credit rules and indicated he would ease monetary policy further if inflation slowed faster than anticipated, leaving interest rates unchanged...

Bank of America’s 8.5 Billion Settlement Heads for Court Showdown

American International Group Inc. and others have objected to this settlement, saying the settlement made to them is a fraction of the money they lost.  June 07, 2013: Court proceedings have begun on an 8.5 billion settlement between Bank of America and investors in mortgage securities that turned bad during the financial crisis in 2008. Bank...

IMF tells France to Speed up Reforms and Contain Public Spending

In its report on France, the fund has trimmed its forecast to see the economy contract by 0.2 percent this year from a previous – 0.1 percent.  June 07,2013: The International Monetary Fund (IMF) has advised France to focus on removing obstacles to growth, liberalize its economy and lower labor costs to get back to growth...

Crisis hit Co-op Bank hires ‘Turnaround Specialist’ Richard Pennycook and Banker Richard Pym to Beef up Banking and Retail Sectors

The Co-operative group has beefed up its management by recruiting the former finance director of Morrison’s and the chairman of Britain’s Nationalized Banks. June 06, 2013: The Co-operative Group has made senior personnel changes in an attempt to stabilize its troubled bank following a credit downgrade and deep concerns on its capital levels. Richard Pennycook, widely...

Bank of England and HM Treasury Funding for Lending Scheme – 2013 Q1 usage and lending data

The Bank of England has published the updated data on the use of Funding for Lending Scheme(FLS) for the quarter ending 31st March 2013.  June 03, 2013 : The Bank has today published updated data on the use of the Funding for Lending Scheme (FLS). Today’s publication shows for each group participating in the FLS...

Switzerland to Relax Bank Secrecy Laws

SWITZERLAND aims to save its banks from heavier punishment in the United States for helping wealthy tax cheats by sidestepping its own famed secrecy laws to let bankers disclose data to US prosecutors. Dealing a huge blow to Switzerland’s historic banking secrecy, Swiss finance officials on Wednesday approved a plan that would allow the country’s...

Egypt: Making Home Ownership a Reality

Supporting a Competitive and Sustainable Residential Mortgage Market in Egypt. By, Eman Abd El Hady l World Bank The Egypt Mortgage Finance Project yielded some of the most impressive results Egypt has seen in the financial sector, enabling banks and non-bank lenders in the primary market to offer long-term market-based mortgage loans for residential housing. During...