MADRID–Spanish banks’ level of borrowing from the European Central Bank rose to a record high in July as tensions mounted in the weeks following the announcement of a 100 billion euro ($122 billion) bailout for the country’s financial industry.
Data released Tuesday by the Bank of Spain showed that net borrowing rose to EUR375.55 billion, up from EUR337.21 billion in June. It was the tenth month in a row [...]
(Reuters) – Chinese lenders accounted for almost a third of global bank profit last year, up from 4 percent in 2007, as they grabbed market share given up by struggling European peers, according to The Banker magazine’s annual rankings.
Three Chinese banks topped the profit table, led by Industrial and Commercial Bank of China (ICBC) (601398.SS) for the second successive year, with pretax earnings of $43.2 billion, according to The Banker.
ICBC was followed [...]
Just a few headlines:
China Banks Postponing Losses Damages Confidence, S&P Says
Gross Says Next U.S. Quantitative Easing May Be $500 Billion
Moody’s cuts Region of Valencia to Ba3
Debt Downgrades to Rise ‘Substantially’ in 2012, Moody’s Says
San Francisco’s tab for public pensions may jump to $80M
Greek bond swap falling short – sources
Small banks in the mainland are resorting to “creative” but high-risk ways to structure loans, sources said.
Some are extending a single loan to several companies while others are handing out personal loans to executives that are then channeled into business operations.
Sources said that when a loan is spread among several companies, a bank is also at risk of a default.
“The companies may have been struggling and that’s why [...]
Pretty amazing when you see something intelligent out of China – that we, and the rest of the so-called “Western World”, refuse to do:
The assets linked to wealth management products provided by trust companies must be shifted onto banksâ€™ balance sheets by the end of 2011, the people said, declining to be identified as the matter isnâ€™t public. Lenders should prepare provisions equal to 150 percent [...]
now years after accession to WTO, the very few profitable business in China are: western firms JV, monopoly such as oil, china mobile. very few local manufacturer are making money in china, according to latest survey , 70% percent of top 100 private firms in zhejiang province are in real estate business, real estate business now are the life support of china gov, domestic manufacturer, resident. 80% of china financial [...]