Saturday 30 August 2014
 
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Deposits

Last-minute Cyprus deal; heavy loss for big depositors

  Cyprus clinched a last-ditch deal with international lenders to shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailo

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How Europe decided to punish Cyprus savers

  Just three weeks after being elected president of Cyprus, Nicos Anastasiades travelled to Brussels for his European debut last Thursday. His fellow leaders were all friendly enough.   Hours before

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SABB net profit surges 12.2pc in 2012

Saudi British Bank (SABB), an associated company of the HSBC Group, has registered a net profit of  SR3.24 billion ($862.8 million) for 2012, up 12.2 per cent compared to SR2.88 billion for the same period the year before. Sa

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Egypt cbank vows to safeguard bank deposits

  Egypt's central bank, responding to what it said were market rumours, said on Monday that it was taking all steps needed to safeguard deposits in Egyptian banks whether denominated in local or foreign currencies.

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SABB 9-month net profit up 8.6pc

Saudi British Bank (SABB) said its net profit for the nine months ended 30 September hit SR2.42 billion ($640 million), up 8.6 per cent compared to SR2.23 billion for the same period last year. Announcing the nine months results o

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Gulf deposits in Jersey top $33bn

Total deposits from the Gulf countries in Jersey, one of the world’s leading international finance centres, reached GBP21.2 billion ($33.1 billion), accounting for 14 per cent of total deposits in Jersey's financial sector, said a report.

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DIFC-based firms post $12.8bn in deposits

Deposits out of the Dubai International Financial Centre (DIFC) by regulated entities have grown at an average annual rate of 39 per cent in the past three years to reach $12.8 billion at the end of the first quarter of 2012, a report said.

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New rules to boost Kuwait capital markets

Kuwait's new loan-to-deposit ratio rules for banks are aimed at encouraging capital market development, improving asset-liability matching and boosting credit supply, the country's new central bank governor said on Monday. Under legislatio

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Egypt cenbank cuts reserve requirement on deposits

Egypt's central bank cut its reserve requirement on local currency deposits to 12 per cent from 14 per cent on Tuesday, in a move to provide banks with more cash to lend to the government and business.      The go

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Ajman Bank 2011 net profit soars 75pc

Ajman Bank, an award-winning Islamic financial services institution, has reported a net profit of Dh7 million ($1.905 million) for 2011, a year-on-year increase of 75 per cent compared to the Dh4 million profit reported in 2010. The bank a

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