Published by Eurasia Insights   Issue 17, Wednesday 02 November 2011

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BankWatch 17
19 October - 01 November 2011

The shake-out continues

In spite of the turbulence across the eurozone and the continuing debate around the viability both of the single currency and Greece’s membership of the currency club, it’s been a fairly quiet week for the region’s banking industry.

The shake out continues with the gradual re-shaping of the region’s bank ownership – with Barclays confirming the sale of its operations in Russia and Qatar’s QNB lining up to buy Dexia’s Turkish unit – all in the middle of warnings about the likely need for more capital for even the largest banks in Central and Eastern Europe and continuing unrest over economic austerity. With the global economic crisis entering its fourth year we can’t help but wonder when it will end.

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Banking results

Santander profit up, no capital raising needed

Spain's Banco Santander said it won't need to issue shares or cut its dividend to meet higher capital requirements under a new European Union plan, as it reported a 10% rise in third-quarter net profit. More...

Source: The Wall Street Journal
Date: 27 October 2011

Eurobank EFG has lowered its GDP growth forecast

Eurobank EFG Group has revised down its growth forecasts for South Eastern European economies as a result of the euro debt crisis and problems in the U.S. For Bulgaria the growth forecast was lowered to 2.9% in 2011 and 3.5% in 2012. More...

Source: Focus information Agency
Date: 22 October 2011


Mergers, deals, market moves

Lifeline for Bulgarian banks under threat

Greek banks, UniCredit and Raiffeisen are expected to be among the major banks that will need to raise capital and resort to their units in Eastern Europe, including Bulgaria, to meet the EU required recapitalization ratio, experts have forecast. More...

Source: Novinite
Date: 27 October 2011

Barclays sells its Russian retail and commercial banking operations

Barclays Bank has confirmed the sale of its Russian retail and commercial banking operations, Barclays Bank, to investors including Igor Kim, one of Russia’s leading bankers. More...

Source: Invest In Russia
Date: 27 October 2011

Hungary: Banks vow to fight government policy

Hungarian banks, angered by new government measures are vowing to fight to protect their rights and profits, but their mostly Western owners say they nevertheless remain committed to the market. More...

Source: The Wall Street Journal
Date: 23 October 2011

Qatari bank in talks to buy Dexia's Turkish bank

Qatari bank QNB has begun talks on buying a majority stake in Turkey's DenizBank, a subsidiary of the Franco-Belgian banking group Dexia that is currently being broken up. More...

Source: Cumhuriyet
Date: 18 October 2011

Austria: Hypo Alpe Adria puts sale of bank units on hold

Nationalised Austrian lender Hypo Alpe Adria has put the sale of its banking units in Austria and Italy. Its chief executive that the bank still has enough capital to survive in the mean time. More...

Source: Reuters
Date: 18 October 2011

Banking Technology

Cloud banking can drive ‘creative destruction’, says Gartner

With the result of an industry survey, cloud is the top priority for the global CIOs in the financial services industry. 39 percent of survey respondents expect that more than half of their transactions will be supported via cloud infrastructure and software as a service by 2015. More...

Source: Gartner
Date: 01 November 2011

Visa Europe invests in Monitise

Visa Europe has invested £25 million in mobile banking and payments tech provider Monitise, strengthening the partnership between the two companies. More...

Source: Bank Systems & Technology
Date: 31 October 2011

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Eurasia Insights is a research firm focused on analysis, measurement and benchmarking of the emerging financial services industry of Eastern Europe and Central Asia. Our firm has two core product ranges:

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