Belgian financial group KBC said Friday that it would soon reimburse money it had borrowed in exceptional ECB long-term lending operations owing to improvements in the credit markets and its own cash position. A KBC statement said the bank and insurance group would pay back a total of 8.3 billion euros ($11.1 billion) in the first quarter of 2013. Finance director Luc Popelier cited "the substantially improved condition of the wholesale funding market and KBC’s very solid liquidity position." He added that just three weeks into 2013, KBC had covered one-quarter of its financing needs for the entire year. KBC had twice taken advantage of the European Central Bank's Long-Term Refinancing Operations (LTRO) that loaned banks money for three-year periods at ultra-low interest rates to encourage them to extend credit to the wider economy. Analysts at the Italian bank UniCredit said that the ECB would announce the results of all early repayment of LTROs on Friday, adding: "We expect 200 billion to be repaid in the coming months." That would be a clear sign of improvement in the 17-nation eurozone's banking sector.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor