Daniel Ritort

Tag Archives: bank

India opens bank for women

Manmohan Singh, Prime Minister of India, has inaugurated the country’s first ever state-owned bank for women in the western city of Mumbai. The Bharatiya Mahila Bank, which begins with seven branches, will employ women, accept deposits from and lend mostly to … Continue reading

The Institut Català de Finances to become Catalan public bank

With the move, the Catalan government’s aim is to strengthen the ICF’s role as a tool to support business and the productive economy. It will mostly focus on providing liquidity to entrepreneurial projects, particularly from SMEs.

Ireland to exit bailout

Enda Kenny, Prime Minister of Ireland, said the republic is on track to exit its international bailout program by December. He told the Fine Gael party conference in Limerick that although fragile times lay ahead the economic emergency will be … Continue reading

UK begins Lloyds bank privatization

The government‘s sale of Lloyds Banking Group has begun, with big investors being offered 6% of the bank. Based on today’s closing share price, that stake would be worth £3.3bn and the deal will cut the government’s stake in Lloyds … Continue reading

Banc Sabadell approves capital increase

The Board of Directors of Catalan’s second largest bank, Banc Sabadell, approved a capital increase operation of €1.4 billion. With the operation the Catalan bank will be capitalized enough to start internationalization plan.

BRICS plan a reserve fund worth $100bn

Leaders of the BRICS group of nations, Brazil, Russia, India, China and South Africa, have said they will set up a $100bn fund to guard against financial shocks. China will contribute $41bn to the pool, with Brazil, India and Russia … Continue reading

UBS paid back public bailout

Switzerland‘s central bank has said a loan it granted to bail out troubled bank UBS five years ago has been repaid. The development means UBS can now buy back the once-toxic assets taken out of the bank at the height … Continue reading

Future bank bailouts discussion ends without agreement

European Union finance ministers have failed to agree on how to rescue troubled banks in any future crisis. After almost 20 hours of talks, ministers are still split on whether savers should bear any of the cost of a bailout.

Cyprus attacks banks bailout terms

Nicos Anastasiades, President of Cyprus, has urged in a high critical letter euro zone leaders to revise the terms of his country’s bank bailout. He said the haircut imposed on large deposits under the 10bn-euro bailout had significantly eroded the … Continue reading

EU proposes taking control over LIBOR

European authorities are to propose bringing control of the inter-bank lending rate, Libor, under the supervision of a Paris-based regulator. The draft regulation proposes moving oversight of the scandal-hit benchmark from London to the European Securities and Markets Authority (ESMA).

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