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Barclays bank returns to profit in first quarter

Agence France-PresseApril 24, 2013 03:16
British bank Barclays, seeking to fix its battered reputation caused by last year's Libor rate-rigging scandal, said Wednesday that it returned to profit in the first quarter with net earnings of £839 million ($1.28 billion, 983 million euros) after a loss in the first three months of 2012. Barclays recorded a profit after tax following a net loss of £598 million in the first quarter of last year, the bank said in an earnings statement.

HSBC to shed 1,149 UK jobs in new round of cutbacks

April 23, 2013 08:00
By Steve Slater LONDON (Reuters) - HSBC is cutting 1,149 jobs in Britain in another round of redundancies to save money and slim down Europe's biggest bank. The cuts are part of a three-year revival plan designed by Chief Executive Stuart Gulliver to reduce costs, raise returns and focus on profitable areas. But Unite, Britain's biggest trade union, said it may ballot its members at the bank to see if they want to strike in protest at the latest job cuts and accused HSBC of "putting profits before people".

Piraeus Bank escapes state control, Eurobank does not

April 22, 2013 14:00
By George Georgiopoulos and Andrei Khalip ATHENS/LISBON (Reuters) - Greece's second-largest lender Piraeus Bank <BOPr.AT> has clinched a deal with a Portuguese bank to meet its fundraising targets and stay out of state hands, it said on Monday But Eurobank <EFGr.AT>, the country's fourth-biggest bank, announced that it had given up its own plans for a capital increase, preferring to fall temporarily under state control.

Reforming Barclays unveils senior management changes

Agence France-PresseApril 18, 2013 11:01
Barclays bank on Thursday announced a fresh shake-up of its senior staff, including the departure of its head of investment banking, in the wake of last year's Libor rate-rigging scandal. Barclays said Rich Ricci, the head of its investment banking unit, and Tom Kalaris, who runs its wealth-management arm and US business, would retire in June. "Subsequent to Barclays' publication of the outcomes of its strategic review on 12 February, the bank has today announced changes to the senior management," the bank said in a statement.

Diamond era ends at Barclays with Ricci exit

April 18, 2013 06:30
By Steve Slater LONDON (Reuters) - Rich Ricci, the boss of Barclays' investment bank who collected $26 million (17 million pounds) in deferred bonuses last month, is leaving the scandal-hit bank as its new chief executive seeks to cut back executive pay and repair its image. The American-born Ricci, a star performer at Barclays known for his love of horse racing, was a key lieutenant of Bob Diamond, the former chief executive who left Britain's third largest bank last year after a Libor interest rate rigging scandal.

Barclays broke rules, used advisory staff for CO2 deal: lawyer

April 15, 2013 13:30
By Michael Szabo LONDON, April 15 (Reuters Point Carbon) - Barclays plc broke internal rules by transferring advisory staff with confidential information to its acquisitions team to help buy a Swedish carbon credit firm, a lawyer for a former client said on Monday. London-based trading house CF Partners is suing the bank for 82 million euros (70 million pounds), saying Barclays advised it on a potential bid for Stockholm-based Tricorona in 2008 then used the information to buy the carbon firm itself two years later.

Denizbank to buy Citibank consumer business in Turkey

April 12, 2013 14:52
Turkey's Denizbank , acquired last year by Russia's Sberbank, said on Thursday it had signed an agreement to buy Citibank's consumer banking business in Turkey, part of a Citi plan to shed assets worldwide. Denizbank, one of Turkey's top-10 lenders by assets, said the acquisition was expected to close in the third quarter, subject to regulatory approvals. The purchase price will be set after financial results are determined. Sources close to the matter had told Reuters last month that Citi was in exclusive talks with Denizbank on the sale of the unit.

Japan Fund for Poverty Reduction provides $2.5 mln grant to support Tajik communities with better access to improved health

April 11, 2013 05:33
The Asian Development Bank (ADB) and the Government of Tajikistan today signed an agreement for a project that will improve access of isolated rural communities in eastern Tajikistan to strengthened health services, ADB Country Office in Tajikistan said. The Japan Fund for Poverty Reduction (JFPR) is providing a $2.5 million grant to be managed by ADB for the Improved Maternal and Child Health through Connectivity project, which is scheduled to run for three years through 2016.

BankExpo-2013 to open in Tashkent on April 10

April 11, 2013 04:31
The sixth annual banking exhibition BankExpo 2013 will be held on April 10-11 in Tashkent by the Central Bank of Uzbekistan.All commercial banks, leading insurance companies, local and international IT companies, leasing organizations will participate in the event.The exhibition program includes round table discussions, seminars, presentations, meetings and master classes.There are over 30 commercial banks in Uzbekistan, 9,300 customer service points, 3,967 mini banks and savings banks. The number of banks per 100,000 adult citizens makes 49.

Fire breaks out at BSEC International Secretariat

April 11, 2013 03:30
Shamil Alibeyli; A fire blazed up at the International Secretariat of the Organization of the Black Sea Economic Cooperation (BSEC) in Istanbul, APA reports quoting the Black Sea news agency. Ukrainian Consul General in Istanbul, permanent representative to BSEC Bohdan Yaremenko said that the fire occurred at 05:00 local time and the building suffered serious damage, the roof collapsed. According to preliminary information, a short circuit caused the fire.
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