Banking

Ljubljana – N Banka, the former Slovenian subsidiary of Russia’s Sberbank that was acquired by the NLB bank after sanctions were introduced against Russia, got a new chairman in Heribert Fernau on Friday.

The Central Bank's Monetary Policy Committee (MPC) will meet on June 23 to review its key interest rate.

This will be the MPC's sixth rate-decision meeting this year.

Economists expect the monetary authority to keep the policy rate (one-week repo auction rate) unchanged at
14 percent.

The four systemic banks National, Alpha Bank, Piraeus and Eurobank are expected to close more than 120 bank branches throughout the country in 2022.

According to the plan of the bank administrations, Piraeus plans to close 52 branches, Eurobank 25, National 25 and Alpha Bank 15 bank branches.

Reactions

The package of sanctions includes other tough measures, such as the removal from the swift of the largest Russian bank Sberbank

Ljubljana – The NLB bank has send a request to its Serbian subsidiary NLB Komercijalna Banka for a buy-out of the minority shareholders as Slovenia’s largest bank recently reached the relevant threshold after acquiring additional shares. NLB expects that the buy-out will have a neutral impact on the group’s bottom line.

The Federal Reserve this week is set to redouble its assault against record U.S. inflation while facing an array of shocks both internal and external that analysts fear may one day put the world's largest economy into a recession.

Ljubljana – NLB bank is completing the integration of Komercijalna Banka, a Serbian bank it bought in 2020. It has received regulatory approval for the legal merger of Komercijalna with NLB’s existing branch in Serbia, while the operational merger will take place over the weekend.

HSBC said yesterday that first-quarter profits dropped nearly 30 percent owing to higher-than-expected credit losses and inflation but the Asia-focused lending giant remained upbeat about its outlook.

The Turkish Central Bank revised its reserve requirements regulation on April 23 in a move to strengthen the macroprudential policy toolkit.

Reserve requirements, which used to only be applied to the liability side of balance sheets, will now be applied to asset sides as well, the bank said in a statement.

Treasury and Finance Minister Nureddin Nebati has underlined that the Turkish economy continues to draw interest from international investors during his visit to the U.S. capital.

He met with prominent portfolio investors in a meeting organized by banking giant JPMorgan on April 21.