Tag Archives: bank

NPA pains to continue at ‘elevated levels’ this fiscal year: ICICI Bank

ICICI Bank, which posted a massive plunge in net profit in the March quarter on a spike in bad loans, expects the asset quality pain to continue at “elevated levels” this fiscal with the top private lender putting a whopping Rs 44,000 crore more of assets on a watch-list. “There are significant uncertainties around future trends and it is expected ... Read More »

Warren Buffett says doesn’t try to profit from central bank moves: CNBC

Warren Buffett, the chairman and chief executive of conglomerate Berkshire Hathaway (BRKa.N), said Monday Berkshire did not try to profit from global central bank monetary policy and that low oil prices were beneficial to the United States. “It’s a fascinating movie to watch,” Buffett told cable television network CNBC, in reference to central bank monetary policy worldwide. “I don’t try ... Read More »

HDFC Bank plans to raise Rs 50,000 crore via bonds

The HDFC Bank headquarters in Mumbai. (Reuters file photo) NEW DELHI: Private sector lender HDFC Bank on Friday said it plans to raise Rs 50,000 crore through bonds over one year to fund business growth. The board has accorded approval for seeking shareholders nod at the annual general meeting (AGM) for issue of perpetual debt instruments, Tier II bonds, senior ... Read More »

Schäuble takes on bank secrecy in Germany after Panama Papers

Finance minister hopes to alter fiscal code so people with money in offshore firms can no longer hide behind banks, paper shows Wolfgang Schäuble is to present a 10-point plan to the heads of federal and state tax departments on Thursday. Photograph: Shawn Thew/EPA The German finance minister wants to prevent people in Germany who have money in offshore firms ... Read More »

World Bank: Tax evasion hurts anti-poverty fight

WASHINGTON: Tax evasion through international tax havens and other illicit transfers of money undermine the fight against global poverty, World Bank President Jim Yong Kim said Thursday. Kim said the bank is “very concerned” about illicit financial flows, amid intense attention on the recent leak of the “Panama Papers” showing how powerful officials and businesses in many countries make use ... Read More »

India world’s largest recipient of remittances in 2015: World Bank

India remained the world’s largest recipient of remittancesfrom abroad in 2015, despite a $1 billion drop from the previous year, the first such decline since 2009, the World Bank said on Thursday. It attributed the decline to the impact of falling oil prices on remittances from the Gulf countries and depreciation of major sending country currencies. In 2015, the country ... Read More »

BRICS moves to establish bank institute, rating agency

BRICS countries on Friday discussed the efficacy of “establishing” a bank institute and a rating agency of their own following the New Development Bank (NDB) becoming fully operational. BRICS finance ministers and central bank governors met here on the sidelines of the annual Spring meeting of theInternational Monetary Fund and the World Bank, for a discussion chaired by Finance Minister ... Read More »

Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks

Back in July of 2014, we reported that in an attempt to obtain if not compensation, then at least confirmation of bank manipulation in the precious metals industry, a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar ... Read More »

DCB Bank Q4 profit up 10%, NII jumps 30%; asset quality improves

Moneycontrol Bureau Private sector lender DCB Bank   ‘s profit in January-March quarter increased 10.4 percent year-on-year to Rs 69.5 crore, driven by net interest income and other income but higher provisions limited growth. Net interest income, the difference between interest earned and interest expended, grew by 30 percent to Rs 168.69 crore during the quarter compared to Rs 129.68 ... Read More »

World Bank trims 2016, 2017 East Asia growth forecasts, cites risks to outlook

The World Bank trimmed its 2016 and 2017 economic growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by risks such as uncertainty over China’s growth prospects, financial market volatility and further falls in commodity prices. The Washington-based lender now expects the developing East Asia and Pacific (EAP) region, which includes China, to grow 6.3 ... Read More »