Latest articles from Comment

New money laundering rules lead to chaos in Russian bank system

August 2, 2004

Russians have seen it all before; when the queues began to form outside banks that were refusing to pay out last month, panic began to set in.
A bank crisis that started in May with the closure of medium-sized Sodbiznesbank threatened to spin out of control after the large retail bank, Guta Bank, closed its doors and a run started on accounts at Alfa Bank, one of the two biggest commercial banks in Russia.

SEC registration solves nothing

August 2, 2004

On September 29 2003, the US Securities and Exchange Commission (SEC) reported on the hedge fund industry after a 15-month investigation. The most significant recommendation is for hedge fund managers to register with the SEC under the Investment Company Act of 1940.

Top 1001-2000 highlights growing polarisation between the big league and the smaller players

August 2, 2004

As Japan’s banking sector gets set for a mega-merger, the Banks of the Future listing illustrates the challenge facing emerging markets to strengthen their banks, and by extension their economies.
The Banks of the Future listing of the world’s Top 1001-2000 banks demonstrates dramatically not only the dominance of US and European banks even among the world’s smaller banks but also the paucity of capital available to banks in developing countries trying to grow their economies.

Italian debt rating downgrade comes not a moment too soon

August 2, 2004

Political infighting among four-member coalition underscores the need for structural reforms and perhaps a new government.
The Standard & Poor’s downgrade of Italian debt to AA- is long overdue. The only wonder is that the other rating agencies have yet to jump on board.

Award highlights women’s plight in management

August 2, 2004

Morgan Stanley’s recent $54m record settlement in a sex discrimination case will force banks to put the issue of bringing women into senior management on the front burner again, says Karina Robinson

Merger marks Japan’s reform progress

August 2, 2004

Last month’s proposal of marriage between MTFG and UFJ would create the largest bank in Japan, but it will only be positive news if the two businesses can be integrated, writes Geraldine Lambe
For the Japanese banking system, recuperation has been a long and painful process. It is only now, after more than a decade of despair, that Japan’s so-called mega-banks are ready to start performing as mega-banks should.

Why banks need a reality check on global economic change

August 2, 2004

Most predictions about the world are based on the increasingly powerful role of China and its booming economy. The trouble is that China is not booming in anything like the style that its official statistics would suggest. Leading US academic Lester Thurow, in a startling article written for The Banker’s Viewpoint, looks more closely at Chinese data and finds it wanting. A debate is now required on what this means for the global economy.

Benjamin Netanyahu: Israel’s prime minister in waiting

July 2, 2004

Benjamin Netanyahu, Israel’s finance minister, tells Karina Robinson about Israel’s economic turnaround and his thoughts on returning to power.

The Banker Top 1000 world banks produce record profits

July 2, 2004

The Banker’s latest Top 1000 World Banks listing shows that banks are back making record profits. The aggregate pre-tax profits of the Top 1000 shot up by a mammoth 65.4% to reach an all-time record of $417.5bn as the Japanese banks moved back into profit and institutions around the globe revelled in improving economic conditions. The listing also highlights the dominant position of EU and US banks, which account for almost three-quarters of total profits, and the unrivalled profitability of the US banks.

Germans hold back EU while Japan emerges from doldrums

July 2, 2004

The Banker Top 1000 shows that the Japanese banks seem to have finally turned the corner and that, despite dominating the listings, EU banks are suffering from the lack of profitability of German banks.

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