London Metal Exchange chairman Donald Brydon tells Karina Robinson that change at the institution is unavoidable but a sell off is not on the books.
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Hungary’s OTP buys banks in Balkans, Russia and Ukraine
August 7, 2006OTP Bank (aka the National Savings and Commercial Bank), Hungary’s leading bank and the only locally owned central European bank with a regional strategy, continues to look eastwards for expansion with a flurry of takeover activity.
Argentina must stick with current course
August 7, 2006Orthodox ‘adjustment’ policies risk destroying the gains made since the 2001 crisis, namely high growth and investment rates as well as reasonably low inflation and unemployment, says Roberto Lavagna.
EU must help Turkey ward off instability
August 7, 2006With its neighbours in various states of strife, safeguarding Turkey’s obvious progress should be an EU priority.
Making waves
August 7, 2006For Barclays to succeed in the new South Africa, it must strengthen newly acquired Absa's efficiency and then both must learn how to tap the country’s burgeoning black middle class. Meanwhile, their efforts are shaking up a heavily concentrated banking sector.
Uganda trials reforestation project
July 3, 2006The New Forests Company (NFC) is using CDM to help finance its reforestation of an area in western Uganda in its Namwara project.
Nigeria’s minimum capital decree gives surviving banks more clout
July 3, 2006The most conspicuous change to the list of sub-Saharan African banks in the Top 1000 is the proliferation of Nigerian institutions. This reflects the impact of the Central Bank of Nigeria’s decree that banks there meet a new minimum capital requirement of N25bn ($192m), up from just N2bn.
Exceptional growth for Gulf
July 3, 2006High oil prices and massive liquidity have continued to produce booming profits and exceptional growth for most Middle East banks, particularly those in the Gulf region.
Headlines belie region’s health
July 3, 2006The headlines about Latin America this year have been dominated by left-wing outpourings from Venezuela’s President Hugo Chávez, by Bolivian President Evo Morales’s nationalisation of the country’s oil and gas fields and by corruption allegations involving Brazilian President Luiz Inácio Lula da Silva’s administration, which may well put his re-election in jeopardy.
Citigroup steams ahead of the field but BofA leapfrogs to second place
July 3, 2006There are no big surprises in the North American ranking, where Citigroup still leads its nearest domestic rival by a similar margin to that of last year. Then, it led JPMorgan by virtue of $74.4bn in Tier 1 capital to the latter’s $68.6bn; this year, it leads Bank of America Corp with $79.4bn against BofA’s $74bn.